 Logo used since 2022 | |
 Headquarters inPingshan District, Shenzhen, Guangdong, China | |
| Formerly | Shenzhen BYD Battery Company Limited (1995–2002) |
|---|---|
| Company type | Public |
| SEHK: 1211 SZSE:002594 CSI A50 | |
| Industry | Conglomerate |
| Founded | February 1995; 31 years ago (1995-02) |
| Founder | |
| Headquarters | Shenzhen, Guangdong ,China |
Area served | Worldwide |
Key people | Wang Chuanfu (chairman,CEO) |
| Products |
|
Production output |
|
| Revenue |  ¥777.1billion (2024) (US$107.97billion)[1] |
| ¥38.1billion (2024) (US$5.29billion) | |
| ¥40.25billion (2024) (US$5.59billion) | |
| Total assets | ¥783.36billion (2024) (US$108.84billion) |
| Total equity | CN¥185 billionUS$25.771 billion (2024) |
| Owners |
|
Number of employees | 968,900 (December 2024) |
| Subsidiaries | |
| Website | bydglobal.com |
| Footnotes / references [2][3][4][5][6][7][8][9][10][11][12] | |
| BYD Company | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Simplified Chinese | 比亚迪股份有限公司 | ||||||||||
| Traditional Chinese | 比亞迪股份有限公司 | ||||||||||
| |||||||||||
BYD Company Limited orBYD (Chinese:比亚迪;pinyin:Bǐyàdí) is a Chinesemultinational manufacturingconglomerate headquartered inShenzhen, Guangdong, China. It is avertically integrated company with several major subsidiaries, includingBYD Auto which producesautomobiles, BYD Electronics which produces electronic parts and assembly, andFinDreams, a brand name of multiple companies that produce automotive components andelectric vehicle batteries.
BYD was founded byWang Chuanfu in February 1995 as abattery manufacturing company. Its largest subsidiary, BYD Auto, was established in 2003 and has since become the world's largest manufacturer ofplug-in electric vehicles.[13] Since 2009, BYD's automotive business has accounted for over 50% of its revenue, surpassing 80% by 2023.[14][15] The company also produces rechargeable batteries (includinghandset batteries,electric vehicle batteries, andenergy storage systems),forklifts,solar panels,semiconductors, andrail transit systems.[16][17] Through its subsidiary, FinDreams Battery, BYD was the world's second-largest electric vehicle battery producer in 2024, holding a 17% market share, behind onlyCATL.[12]
Since 2022, BYD has been China's largestprivate-sector employer, ranking behind severalstate-owned enterprises.[18] As of September 2024, the company employs 900,608 people, including 104,003 inresearch and development (R&D).[19] It also leads inpatent filings, having submitted over 13,000 patents between 2003 and 2023.[20] In 2024, theWorld Intellectual Property Organization (WIPO)’s Madrid Yearly Review ranked BYD's number of marks applications filled under theMadrid System as 10th in the world, with 73trademarks applications submitted during 2024.[21] BYD's stock is listed on theHong Kong Stock Exchange (H shares) and theShenzhen Stock Exchange (A shares). The company ranked 143rd on theFortune Global 500 in 2024.[22]
"BYD" is thepinyin initials of the company's Chinese nameBiyadi. The company was originally known asYadi Electronics (亚迪电子), named after the Yadi Road inDapeng New District, where the company was once based.[23] According to Wang Chuanfu, when the company was registered, the character "Bi" (比) was added to the name to prevent duplication, and to provide the company with analphabetical advantage intrade shows.[24] As the name "BYD" had no particular meaning, BYD started adopting abackronymic slogan "Build Your Dreams" when it participated at the 2008North American International Auto Show in the US.[25][26][27]
On 18 November 1994,Wang Chuanfu gathered a team of 20 people and founded BYD inBuji Town,Longgang District,Shenzhen.[28] The company was formally founded on 10 February 1995 as Shenzhen BYD Battery Company Limited withCN¥ 2.5 million of capital, with a focus on producing rechargeablenickel–cadmium (NiCd) batteries.[29][30] Wang, at 29 years old, founded the company after noticing an opportunity presented by the shift in Japanese companies from NiCd to high-valuenickel–metal hydride (NiMH) andlithium-ion (Li-ion) batteries while he was working as a vice supervisor at the Beijing Nonferrous Research Institute. He moved toShenzhen with his cousinLu Xiangyang and started the company in 1995 to capitalize on the opportunity.[31]
BYD's business grew by implementing a redesignedmanufacturing approach by incorporating moremanual labour, in contrast of thecapital-intensive and highly automated processes in Japan. This manufacturing process, along with in-house production of key machinery, contributed to a reduction in unit costs compared to Japanese competitors by around five or six times lower.[32] The company also developed advancements in battery technology, including foamed nickel roller welding, which improvedelectrode performance.[33]
BYD's cost-efficient production methods attracted major clients. In 1996, BYD secured an order fromSanyo, marking its entry into the global battery supply chain. By 1997, amid theAsian financial crisis,Philips,Panasonic, andMotorola became BYD's major clients.[33]
In 1998, BYD's first branch outside China, BYD Europe B.V., was opened in the Netherlands. It also established a branch in the United States called BYD America Corporation in 1999.[34] BYD opened its firstindustrial park inKuichong, Shenzhen in 2000.[35]
BYD started producing mobile phone components in the early 2000s.[36] By July 2002, BYD became the world's leading NiCd battery manufacturer, surpassing Sanyo, accounting for 65% of global production.[32]
In September 2002, Sanyo filed apatent infringement lawsuit against BYD, alleging that BYD infringed on its patents related to the constitution of the bare cell of Li-ion batteries and the structure of Li-ion battery packs.[37][38]
In 2007, Taiwanese electronics manufacturerFoxconn sued BYD for unfair competition and misappropriating confidential data. Lawsuits were filed in Hong Kong and Shenzhen, alleging BYD obtainedtrade secrets from former Foxconn employees. Previously, BYD had faced unsuccessful patent infringement claims fromSony and Sanyo.[39]
In December 2007, the BYD Electronics division is listed on theHong Kong Stock Exchange after multiple delays due to legal disputes with Foxconn.[40]
On 31 July 2002, the company underwent aninitial public offering (IPO) on theHong Kong Stock Exchange. The company announced its target to become the world's second-largest battery firm.[41][15] Shortly after the IPO, BYD acquired a small automotive manufacturing company, Xi'an Qinchuan Automobile, from state-owneddefense companyNorinco in January 2003, which was met with disapproval from shareholders, as the plan was not disclosed in theprospectus.[42] Qinchuan was acquired with the intention of developing battery-powered electric vehicles.[43][44] BYD's first cars were conventional petrol vehicles such as theBYD F3, with production starting in April 2005.[32] The model gained market share by offering a low price and was considered successful.[45]
The company produced its firstplug-in hybrid vehicle, the BYD F3 DM in 2008, followed by its first productionbattery electric vehicle, theBYD e6 in 2009.[46][47]
For eleven years, from 2009 to 2020, BYD's automobile business stagnated, with annual sales hovering between 400,000 and 500,000 vehicles, while other local manufacturers experienced growth.[48] From 2020, BYD's sales have grown significantly, driven in part by the rapid increase in new energy vehicle sales in China.[49] Since 2021, it started exporting passenger cars to key markets such as Europe, Latin America, Southeast Asia and Australia.[50][51][52]
In September 2008,MidAmerican Energy Holdings, a subsidiary ofWarren Buffett'sBerkshire Hathaway Inc, invested about US$230 million for a 9.89%[53] share of BYD atHK$8 per share.[54] Buffett credited this investment toCharlie Munger, Berkshire's vice chairman who saw the potential in the company.[55] Since 2022, Berkshire had gradually reduced its shareholding in BYD after its share price increased significantly. As of June 2024[update], Berkshire held a 6.9% stake in BYD.[56] By September 2025, Berkshire had completely exited its investment in BYD.[57]
In 2009, BYD purchased a Chinese solar panel manufacturer to enter thesolar panel industry. It began building a 100-megawatt solar power plant inShangluo, Shaanxi, at a cost of CN¥ 500 million.[58]
By 2009, the company secured its position as the second-largest producer of NiMH batteries and the third-largest in Li-ion batteries.[32] In 2012, BYD had captured more than half the world's mobile phone battery market and was the largest Chinese manufacturer (and in the top four globally) of all types ofrechargeable batteries.[59][16]
In June 2011, BYD was listed on theShenzhen Stock Exchange at CN¥ 18 a share. It raised CN¥ 1.42 billion yuan (US$219 million) in the initial public offering, which was below expectations, amid weak investor sentiment and concerns over its performance.[60]
In 2016, BYD unveiled a workingmonorail prototype marketed as "Skyrail" (Chinese:云轨;lit. 'cloud rail')[61][62][63] and announced they will enter the globalrail transit market.[64] The first public Skyrail line opened as a 9.7 km (6.0 mi) long loop line inYinchuan's flower expo in 2018.[65][66]
Between 2017 and 2019, due to several factors such as the slowdown of BYD Auto's sales, BYD saw its net profit has falling sharply for three consecutive years, especially in 2019 when it dropped toCN¥ 1.6 billion. Wang Chuanfu described it as the "darkest moment", since at that time the company had only one goal, which was to survive.[67] However, Wang insisted on investing CN¥ 8.4 billion inresearch and development.[68] In 2020, BYD received the equivalent of €2.1 billion in Chinese statesubsidies.[69]
In 2020, BYD established four automotive component manufacturers spun-off from BYD divisions brandedFinDreams, with the intention of supplying parts to other automotive companies.[70] In that year, it also introduced theBlade battery, alithium iron phosphate (LFP) battery for electric vehicles. While many battery manufacturers were shifting away from LFP due to concerns over energy density, BYD promoted the Blade as a safer alternative with competitive energy performance andenergy density. The battery was first used in theBYD Han, abattery electric sedan released in 2020, and later adopted in subsequent models.[30]
From 2020, BYD experienced a substantial surge in vehicle production and sales volume, partly attributed to the increasing popularity of new energy vehicles in China.[71] It also initiated exports of electric vehicles to overseas markets since 2021, mainly to Europe, Southeast Asia, Oceania and Latin America.[49] In March 2022, BYD ended the production of pureinternal combustion engine vehicles to focus on plug-in electric vehicles.[72] In 2023, it introduced two new brands, which areYangwang andFangchengbao.
In November 2024, BYD hosted an event in Shenzhen to commemorate its 30th anniversary and the production of its 10 millionth new energy vehicle.[73]
In the second quarter of 2025, BYD's quarterly profit fell for the first time in more than three years. Its net profit totaled 6.4 billion yuan ($894.74 million), down 29.9% from the same period in 2024, as vehicle sales declined in its home market.Reuters reported that the Chinese government's campaign against price wars contributed to the slowdown in BYD’s sales.[74][75]
In September 2025, Berkshire Hathaway sold its entire stake in BYD after a 17-year investment that generated a 3,890% return. Berkshire began investing in BYD in 2008 and started gradually reducing its stake in 2022.[76]
In December 2025, BYD overtook the South Korean affiliate of US auto giantGeneral Motors Co. in the Korean market.[77]
In 2025, BYD dominated new car sales in Singapore with over 20% market share. It was revealed on 22 January 2026 that out of 52,678 total car registrations, 11,184 were BYD.[78]
BYD Auto was founded in January 2003 by BYD ownerWang Chuanfu, following BYD's acquisition of Xi'an Qinchuan Automobile.[79] It manufactures passengerbattery electric vehicles (BEVs) andplug-in hybrid electric vehicles (PHEVs), collectively known asnew energy vehicles (NEVs) in China. It also produceselectric buses andtrucks. Aside from using the BYD main brand, BYD Auto also owns three other brands intended to capture the high-end market, which areDenza,Fangchengbao andYangwang.
TheBYD F3, the first car developed by BYD Auto, began production in 2005. The company launched its first plug-in hybrid electric vehicle, theBYD F3DM in 2008, followed by theBYD e6, its first battery electric vehicle, in 2009. BYD Auto ended production of purelyinternal combustion engined cars in March 2022. Since 2023, BYD Auto is the largest automobile manufacturer in China by annual sales.[80]
As of 2025[update], BYD Auto has nine major vehicle production bases in China. In addition, it operates production bases in Uzbekistan and Thailand and is constructing new facilities in Indonesia, Brazil, Hungary, and Turkey. BYD's annual vehicle production capacity in China is 5.82 million vehicles as of 2024[update].[81]
BYD's automotive business constitutes the majority of BYD's revenue. In 2024, BYD reported a revenue of around CN¥617 billion from automotive and related products, accounting for 79% of BYD's total revenue.[82]
 | |
| Company type | Public |
|---|---|
| SEHK: 285 | |
| Industry | |
| Founded | 14 June 2007; 18 years ago (2007-06-14) |
| Headquarters | Shenzhen, Guangdong, China |
Area served | Worldwide |
Key people |
|
| Products |
|
| Revenue | CN¥129.95 billion (2023) |
| CN¥7.96 billion (2023) | |
| CN¥4.04 billion (2023) | |
| Total assets | CN¥87.21 billion (2023) |
| Total equity | CN¥29.33 billion (2023) |
| Owners |
|
Number of employees | 150,300 (2023) |
| Parent | BYD Company Limited |
| Website | electronics.byd.com |
| Footnotes / references [83] | |
BYD Electronic (International) Company Limited or simplyBYD Electronics manufactures handset components and assembles mobile phones for its customers as anOEM orODM. Created as a subsidiary of BYD in 2002, it issued anIPO on theHong Kong Stock Exchange in 2007 having beenincorporated in Hong Kong on 14 June 2007.[40]
BYD Electronics operated several overseas factories,[84] such as inCluj,Romania;[85] a factory inKomárom,Hungary that was acquired through the February 2008 purchase of Mirae Hungary Industrial Manufacturer Ltd;[85] and a factory inChennai,India, which was also completed in 2008.[85] In addition, BYD Electronic has production bases inHuizhou,Tianjin, and at Baolong Industrial Park, Longgang District,Shenzhen.[86]
As a "one-site mode supplier" especially formobile phones, the company providesproduct design,manufacturing, testing,assembly and after sales services. By 2011, notable BYD Electronics customers includeNokia,Motorola, andSamsung.[87] According to Wang Chuanfu in 2021, the company manufactures mostHuawei mobile phones.[88]
Since 2020, BYD Electronics became one of theoriginal equipment manufacturer (OEM) ofApple'siPad.[89] It also produces iPads in its factory in Vietnam, which went operational in July 2022. The Vietnamese factory is located at the Phu Ha industrial park in thePhú Thọ province. The first phase of the facility has an annual capacity of 4.32 milliontablets and 50 millionoptical prism products.[90][91] Apple's plan to produce iPads with BYD in India were cancelled due to government regulations stemming from geopolitical concerns between India and China.[92][93]
In August 2023, BYD Electronics has agreed to buy several Chinese factories operated byJabil, a U.S. manufacturer that supplies major components to Apple.[94]
In May 2024, it was announced that BYD Electronics would be added to Hong Kong'sHang Seng Index.[95]
In July 2024, BYD Electronics andLuxshare Precision joined theiPhone 16 supply chain, following the relocation of some iPhone production from India back to China due to quality concerns.[96]
BYD Semiconductor Co., Ltd. was established in 2020 as the successor to the BYDIC Design Department that was established in 2002.[17] manufactures and distributessemiconductor products such asintegrated circuits,insulated gate bipolar transistor modules,light emitting diodes, single chips, and other products.[97] The company planned to issue aninitial public offering (IPO) before cancelling it in November 2022 as the company chose to increase investments inwafer production.[98]
BYD Forklift was established in 2009 and headquartered inZhenjiang, Shaoguan. It develops and produces electricforklifts, towing vehicles androbots with an annual production capacity of 30,000 units. The company marketed its forklifts since 2014.[99]
 | |
| Product type | Automotive components |
|---|---|
| Owner | BYD Company Limited |
| Country | China |
| Introduced | March 2020; 5 years ago (2020-03) |
| Chinese name | |
| Simplified Chinese | 弗迪 |
| Hanyu Pinyin | Fúdí |
FinDreams (Chinese:弗迪;pinyin:Fúdí) is the brand name used by fourautomotive supplier companies owned by BYD. These companies were announced in March 2020 as spin-offs from BYD. The establishment of FinDreams companies was done to grow sales of components to other automotive companies. The companies include FinDreams Battery, FinDreams Powertrain, FinDreams Technology, FinDreams Vision (cancelled),[100] and FinDreams Precision.[101][102]
Its Chinese name, 'Fudi' comes from a poem in theClassic of Poetry, which means honesty, trustworthiness, steadfastness and diligence.[103]
FinDreams Battery Co., Ltd. was registered on 5 May 2019 as a successor to BYD Lithium Battery Co. Ltd., which was established in 1998. Its products include consumer batteries, electronic batteries, electric vehicle batteries andenergy storage batteries.[104] It specializes inlithium iron phosphate (LFP) batteries, includingblade battery.[105] As of November 2021[update], the company has established 15 major production bases in more than 10 cities across China.[106] As of December 2024[update], FinDreams Battery is the world's second largest producer ofelectric vehicle batteries belowCATL.[107][108] Manufacturers that have been using LFP batteries produced by FinDreams Battery includeTesla,[109][110]Toyota,[111]Kia,[112]Ford,[113]Suzuki,[114]KG Mobility,[115]Chery,[116]Xiaomi,[117]XPeng,[118]Nio,[119]FAW,[120]JAC,[121]Dongfeng Nissan,[122]Hozon/Neta,[123] and others.
In early 2022, the company started construction of ajoint venture plant withFAW Group called FAW-FinDreams to produce battery packs. BYD held 51% of the shares, while FAW held the rest. Located inChangchun, Jilin, the plant was designed with a total capacity of 45GWh. The first battery pack rolled off the plant in July 2023, and the plant went operational in September 2023.[124]
.jpg)
In June 2023, FinDreams Battery established a joint venture with Huaihai Holding Group, which is best known forelectric tricycles andelectric scooters, intending to establish the world's largest supplier ofsodium-ion batteries.[125] In January 2024, construction of the sodium-ion manufacturing plant started. The CN¥10 billion (US$1.4 billion) plant will have a 30GWh annual production capacity.[126]
In February 2024, the company signed an 8-year agreement with American automotive supply company,BorgWarner. FinDreams Battery will supply BorgWarner with blade cells for manufacturing LFP battery packs in Europe, the Americas and several Asia Pacific regions. BorgWarner will also secure anintellectual property license to use FinDreams battery pack design and manufacturing process.[127]
In March 2024, FinDreams Battery became a cell supplier toTesla's energy storage manufacturing in China which operates at the newly built Shanghai Megafactory. It will start supplying 20 percent of the cells needed to produce Tesla'sMegapack starting from the first quarter of 2025.[128]
FinDreams Battery also owns Shenzhen BYD Energy Storage Co., Ltd., (previously Shenzhen Pingshan FinDreams Battery Co., Ltd.) that producesenergy storage products.[129] It produces the BYD Home Energy System, simplified as BYD HES, an integrated product combiningsolar panels,battery,inverter, etc.[130][131] This system generated electricity fromsolar power, and then stored it.[132]
In February 2025, BYD Energy Storage announced a contract withSaudi Electricity Company to provide 12.5 GWh of energy storage.[133]
FinDreams Powertrain Co., Ltd. develops and produces engines and powertrain-related parts such as transmissions, axles, electric car platforms andplug-in hybrid systems.[17][104]
FinDreams Technology Co., Ltd. develops and produces automotive electronics andchassis-related parts that are used in passenger cars, commercial vehicles, and rail transit.[104] It has ten major products such as vehicle thermal management, vehiclewiring harness, smart cockpit,advanced driver-assistance system (ADAS), passive safety components,braking system,suspension andexhaust, body control,steering system, and body accessories.[17]
FinDreams Precision Co., Ltd. (previously FinDreams Molding)[100] operatesmoulding manufacturing and research and development.[104]
RIDE[134] is the US spinoff of BYD, focusing on transit solutions in the US and Canada.[135] Headquartered inPasadena, California, US, the company was announced in 2023 and during a transition period, in which it won awards for innovativeschool bus designs, was known publicly as BYD | RIDE.[136] RIDE operates the former BYD Coach & Bus facility inLancaster, California.[137] Type A, C, and D school buses, transit buses and trucks are manufactured and assembled at the facility, which employs about 500 American union workers who are affiliated with theSMART union.[138] RIDE battery electric school buses have been deployed in Oakland, California in concert withZum.[139]
BYD constructed monorail systems around the world, including theGuang'an Metro and theGuilin Metro in China,Line 17 in São Paulo and theSkyRail Bahia, both in Brazil. BYD is also part of aconsortium that was awarded a pre-development contract to build a monorail from theSan Fernando Valley toLAX via theSepulveda Pass inLos Angeles.[140]
.jpg)
BYD also offers anotherAutomated guideway transit (AGT) system, known as "SkyShuttle" (Chinese:云巴;lit. 'cloud bus').[141] SkyShuttle trains are autonomous and battery powered. They run like monorails on beams, with one difference: the guiding wheels of a monorail train embrace the single beam while the SkyShuttle's guiding wheels are located between two beams of the track. Essentially the SkyShuttle acts like a monorail, but with two "rails". In-house development took 7 years and cost over 1.5 billion USD.[142]
Operational SkyShuttle systems in China:
In 2021, BYD had 288,000 employees. BYD workforce reached 570,000 employees in 2022, after the company hired 280,000 employees in a single year. At that year, BYD became theprivate enterprise company with the largest workforce in China, and only below several state-owned companies such asChina National Petroleum Corporation,State Grid Corporation of China andChina Post. By the end of 2023, the company had 704,000 employees, with 133,000 new hires that year.[18] This workforce count is nearly double that ofToyota, which has 375,000 employees.[144] In 2024, BYD hired close to 200,000 new employees in car manufacturing and components. In December 2024, the company has 968,900 employees.[145]
On 5 November 2021, a 36-year-old employee of BYD was reported dead in his rented home. According to his relatives, his sudden death was due to high-intensity overtime work. No autopsy was conducted, so the cause of death remains unclear. BYD agreed to pay the deceased employee's family a lump sum of CN¥200,000 in compensation.[146]
BYD heavily invested in core component development, with a substantialresearch and development (R&D) budget and personnel. Founder Securities data reveals that BYD's R&D investment reached CN¥7.99 billion in 2021 with a 12.9% rise in R&D personnel, totaling 40,382 employees in 2021. The company also increased itspatent filing by 19.7% year-on-year in 2020, with 29,777 patents.[14]
In 2022, BYD invested CN¥18.65 billion in R&D, more than double than its 2021 budget.[147] In 2023, BYD spent CN¥39.91 billion on R&D, which is 6% of its operating income.[148] In that year, the company also recruited 33,000 new R&D personnel, increasing the total number to 102,000. Among these R&D employees, 60% are under the age of 30. Additionally, BYD disclosed in its financial report that the average annual salary for R&D personnel is around CN¥212,000.[148]
BYD is characterized by itsvertical supply chain system, originating as a battery company in 1995 before venturing into cars (viaBYD Auto) in 2003. At the same time, BYD also leverages China's low labour costs, transforming production lines for power batteries from capital-intensive to labour-intensive, ensuring a competitive edge through a robust supply chain system and reduced production costs.[149] The company has been recognized for innovation; for example it has developed technologies that allow mobile phone batteries to be made at room temperature rather than in expensive, heated dry rooms.[150]
When BYD entered the automobile industry, it built a fully integrated automotive supply chain. The company achieved this byreverse engineering competitor products and supplier parts.[151] The company had also achieved proficiency in producing key components for electric vehicles, such as batteries,motors, and electronic control.[14] This vertical integration model strengthened its industrial chain and mitigates challenges such as the globalchip shortage.[14]
BYD diversified into research and development ofsemiconductor by establishing BYD Semiconductor in 2020. Core components, including automotivechips and theDiLink automotive intelligent system, were independently developed. The establishment of FinDreams companies from December 2019 focused on power batteries,automotive lighting,electronics,powertrain, andmoulding.
In early 2020, BYD transitioned its parts and components division into subsidiary companies, collectively known as FinDreams. It enabled independent operations for these companies, making component supply to other automotive companies easier.[14]
BYD has also invested inmining operations to secure consistent access tolithium and other essential raw materials. In 2022, the company partnered with Chilean lithium producerSQM and was also linked to resource deals in Africa forcobalt andmanganese. BYD backed out of the plan to build lithium cathode plants in Chile due to plunging lithium prices.[152] These initiatives have helped BYD stabilize production costs and ensure steady supply, protecting it from the price and supply fluctuations that have affected the industry.[153] BYD also acquiredmineral rights for two plots inJequitinhonha Valley in Brazil. Covering 852 hectares inCoronel Murta, Minas Gerais, an area known as Brazil's "Lithium Valley", the region recognized for its abundant lithium reserves.[153][154]
In 2023, BYD also formed a joint venture withZhejiang Huayou Cobalt to expand refining capacity in China to ensure higher quality standards, reducing reliance on third-party refiners, and improving flexibility in meeting demand surges.[153]
BYD has many production bases, including three locations inShenzhen[155] (one of which is on the 'BYD Road' (simplified Chinese:比亚迪路;traditional Chinese:比亞迪路;pinyin:Bǐyàdí Lù) inPingshan District,Shenzhen),[155] as well as sites inHuizhou,[155]Shanxi,[156] andShanghai.[156] The first plant of the company in India was opened inChennai.
BYD's automotive business operates an extensive network of vehicle manufacturing facilities across China, encompassing both wholly owned plants and subsidiaries. Its major production centers include the Xi'an plant inXi'an, Shaanxi with a capacity of 900,000 vehicles annually and the Hefei plant inChangfeng,Hefei, Anhui with 1.32 million vehicles per year. Additional large-scale facilities are located inChangsha, Hunan;Shenzhen, Guangdong;Changzhou, Jiangsu,Zhengzhou, Henan, andJinan, Shandong, contributing to the production of passenger vehicles, and additionally key components such as engines, traction motors, and battery systems. BYD also runs specialized branches focused on electric buses in various cities including Dalian, Guilin, and Wuhan, and produces special-purpose electric vehicles and commercial trucks at other dedicated sites.[157][158][159] As of 2024[update], BYD's annual vehicle production capacity in China has reached 5.82 million vehicles.[81] Additionally, BYD has expanded its automotive manufacturing footprint beyond China, such as in Thailand, Indonesia, Uzbekistan, Brazil, Hungary, and Turkey.
The company also operatesphotovoltaic module (solar panel) Bloomberg New Energy Finance Tier 1 manufacturing plant inBeijing, an R&D center and nascent automobile assembly line in Shenzhen, and an R&D center in Shanghai.[160] In 2020, BYD built a new facility inChongqing, China for producing itsblade battery,[161] which are considered to be the safest EV batteries.[162]
In Brazil, it opened its first facility 2015 for the production of electric buses.[163] In April 2017, it inaugurated its second plant for photovoltaic modules. In 2020, BYD opened its third manufacturing plant in the country in Manaus, specifically for lithium iron phosphate batteries, for use in electric buses.[164][165] It is developing facilities inCampinas andCamaçari, the latter slated to begin producing 150,000 passenger vehicles annually from 2025.[citation needed]
In Southeast Asia, BYD is setting up production lines in Cambodia, Indonesia, and Thailand, with capacities ranging from 10,000 to 150,000 vehicles per year. In Europe, BYD has two electric bus assembly facilities in Europe inKomarom, Hungary andBeauvais, France.[166][167] It plans to open a passenger vehicle plant inSzeged, Hungary by 2026,[168] as well as another inManisa, Turkey.[169]
BYD also operates an electric bus manufacturing plant inLancaster, California, near Los Angeles, since 2014.[170][16] In 2019, a bus plant opened inNewmarket, Ontario to handle orders in Canada.[171][172][173]
The key trends of BYD are (as of the financial year ending 31 December):[174][175][176][177]
| Year | Revenue (CN¥ bn) | Net income (CN¥ bn) | Revenue source | Number of employees (k) | Number of sold passenger cars (1000s)[178][179] | Source | |
|---|---|---|---|---|---|---|---|
| Automobile | Non-automobile | ||||||
| 2016 | 100 | 5.0 | 55% | 45% | 510 | [180] | |
| 2017 | 102 | 4.0 | 53% | 47% | 201 | 421 | [180] |
| 2018 | 130 | 2.7 | 59% | 41% | 221 | 528 | [181] |
| 2019 | 127 | 1.6 | 49% | 51% | 229 | 468 | [182] |
| 2020 | 156 | 4.2 | 53% | 47% | 224 | 431 | [182] |
| 2021 | 216 | 3.0 | 60% | 40% | 418 | 749 | [183] |
| 2022 | 424 | 16.6 | 77% | 23% | 570 | 1,882 | [183] |
| 2023 | 602 | 30.0 | 80% | 20% | 703 | 3,024 | [184] |
| 2024 | 777 | 40.3 | 79% | 21% | 969 | 4,272 | [185] |
Notable members of the senior management of the company are as follows:[82]
Executive director
Non-executive directors
Independent non-executive directors
Supervisory Board
Senior management
In 2010, BYD topped theBloomberg Businessweek Tech 100 that listed fast-growing tech companies.[186] In that year, BusinessWeek ranked BYD the eighth most innovative company in the world[187] and that same year saw Fast Company ranking BYD as the 16th most innovative.[188] In 2016, BYD won the Zayed Future Energy Prize award for Large Corporations for their development of robust rechargeable batteries.[189] In 2017, PV Magazine awarded BYD the top category of innovation on its newly launched battery storage system that advances progress in three categories: modularity, charging and discharging capacity, and efficiency.[190]
In June 2006, Shenzhen Futaihong Precision Industry Company and Hong Fu Jin Precision Industry (Shenzhen) Co. Ltd., affiliates ofFoxconn Technology Group, filed alawsuit against BYD in the Shenzhenintermediate people's court. Foxconn alleged that former employees Liu and Si, who had joined BYD's mobile phone design department, had stolentrade secrets. The plaintiff sought 5 million yuan in compensation.
During the trial, the Shenzhen intermediate people's court referred the case to theSupreme People's Court, which appointed the Beijing JZSC Intellectual Property Forensic Center to conduct an appraisal. The forensic analysis examined files found at BYD, to determine whether the information was common knowledge. The initial appraisal identified 68 out of 116 Foxconn files as non-public knowledge. Foxconn argued that these files contained critical production, assembly, and testing processes, making them proprietary trade secrets. The company also highlighted that over 400 former employees had moved from Foxconn to BYD, including senior technicians and managers trained in Europe with Foxconn's funding. The rapid growth of BYD's mobile manufacturing business coincided with this employee migration and Foxconn's alleged trade secret leakage.[191]
In addition to patent litigation,Foxconn sued BYD inHong Kong andIllinois, U.S. in June 2007, alleging BYD poached 50 Foxconn employees and was complicit in the stealing of trade secrets to set up a competing cell phone manufacturing operation.[54][192] Court proceedings disrupted the planned public listing of BYD Electronics inHong Kong Stock Exchange. BYD's initial listing application expired, leading to a second attempt in September 2007, which was again met with legal action from Foxconn, delaying the listing for another six months.[193]
In 2008, the Shenzhen Baoan People's Court ruled that the files in question contained non-public information with economic value, finding BYD guilty of trade secret infringement. Afterwards, Foxconn withdrew the civil proceedings against BYD in mainland China, and soughtcriminal prosecution, as the case was deemed to involve criminal activity. On 20 March 2008, the former executive director and Vice President of BYD was arrested. Then on 24 and 31 March 2008, two former employees of Foxconn were arrested and sentenced to 1 year and 4 months, and 4 years in prison respectively.[191] In October 2009, BYD issued acounterclaim to Foxconn in Hong Kong court, allegingdefamation and bribery of Chinese officials as well as intimidation on Foxconn's part.[192]
In 2012, the Hong Kong High Court rejected Foxconn's appeals against BYD, while also questioning BYD's counterclaims ofdefamation and misuse of legal proceedings. BYD denied Foxconn's allegations of trade secret theft and accused Foxconn of coercing former employees into making false confessions and tampering with evidence.[193]
On 27 April 2020, BYD hired attorneyCharles Harder and filed a federal civil complaint inU.S. District Court for the Southern District of New York,[194] againstVice Media alleging defamation for a story about BYD being associated with companies alleged to be using forcedUyghur labor in itssupply chain which was published on 11 April 2020.[172][195] BYD's case was dismissedwith prejudice in March 2021. TheU.S. Court of Appeals for the Second Circuit affirmed the dismissal. TheU.S. Supreme Court denied BYD's petition for review.[196]
In November 2020, BYD filed alibel lawsuit against the non-profitAlliance for American Manufacturing (AAM) and some of its employees for calling BYD an arm of the Chinese state and linking it to Uyghur forced labor.[195] TheU.S. District Court for the District of Columbia ruled that BYD failed to establish that AAM's statements were defamatory, and dismissed the lawsuit. TheU.S. Court of Appeals for the District of Columbia affirmed the dismissal. The U.S. Supreme Court declined to hear BYD's appeal in August 2022.[197][195]
In 2022, theUnited States Department of Commerce found that BYD had circumvented tariffs on solar panels by routing its operations through Southeast Asian countries.[198] In August 2023, the U.S. Department of Commerce issued a final determination on BYD, determining they circumvented tariffs.[199]
TheNational Defense Authorization Act for Fiscal Year 2024 signed into law on 22 December 2024 prohibits the U.S. Department of Defense from procuring BYD batteries on security grounds.[200][201] In October 2025, the United States Department of Defense stated that BYD merits inclusion on a list of companies linked to China's military.[202]
"BYD Electronic"... was spun off from BYD Company Limited and listed on the Main Board of the Stock Exchange Hong Kong Limited on 20 December 2007. It is a world-leading vertically integrated provider of handset components and modules manufacturing as well as assembly services. The Company provides services to brand name vendors of handsets as original equipment manufacturers...
{{citation}}: CS1 maint: work parameter with ISBN (link)
A subsidiary ofBYD Company | |||||||||||||||||
| Marques | |||||||||||||||||
| Current models |
| ||||||||||||||||
| Discontinued models | |||||||||||||||||
| Key people | |||||||||||||||||
| Related | |||||||||||||||||
 Constituents of theSZSE 100 Index | |
|---|---|
|
| Constituents of theFTSE China A50 Index | |
|---|---|
|
 Constituents ofHang Seng Index | |
|---|---|
| Finance | |
| Utilities | |
| Properties | |
| Commerce and Industry |
|
| Constituents ofHang Seng China 50 Index | |
|---|---|
|
| International | |
|---|---|
| National | |
