This article contains content that is written like an advertisement. (May 2020)
|Industry||Automobiles, Buses, Electric bicycle, Truck, Forklift, Solar Panels, Rechargeable batteries|
|Wang Chuanfu (Chairman, CEO)|
|Products||Gasoline and electric cars, battery-powered bicycles, buses, trucks, forklifts, monorail train and buses, photovoltaic modules (solar panels), face masks, rechargeable batteries, and handset components.|
|Revenue||US$8.5 billion (2013)|
|5,480,012,000 renminbi (2016)|
|Total assets||145,070,778,000 renminbi (2016)|
Number of employees
|229,154 (2020) |
BYD Co. Ltd. ("Build Your Dreams") is a Chinese manufacturing company headquartered in Shenzhen, Guangdong, founded by Wang Chuanfu in February 1995. It has two major subsidiaries, BYD Automobile and BYD Electronic.
BYD has grown to become a major manufacturer of automobiles (most notably full-electric and hybrid cars, buses, trucks, etc.), battery-powered bicycles, forklift, solar panels and rechargeable batteries (mobile phone batteries, electric vehicle batteries and renewable bulk storage).
The name BYD is an abbreviation of "Build Your Dreams".
Founded in February 1995 and listed on the Hong Kong Stock Exchange on 31 July 2002, BYD Co Ltd began as a rechargeable-battery factory competing in the Chinese market against Japanese imports.
BYD grew quickly within ten years capturing more than half the world's mobile-phone battery market and becoming the largest Chinese manufacturer (and in the top four worldwide) of all types of rechargeable batteries. BYD topped the 2010 Bloomberg Businessweek Tech 100 list, a list of large, fast-growing tech companies. Replacing work done by machines with cheap, local labor lowered costs, and the company began expanding beyond batteries adding automobiles and mobile phone components.
Seeking to utilize BYD battery production resources, it sells electric cars in addition to gasoline-powered models.
In 2016, BYD unveiled a working monorail prototype marketed as "Skyrail" and announced they will enter the global rail transit market. The first public Skyrail line opened as a 9.7 km (6.0 mi) long loop line in Yinchuan's flower expo in 2018. Since then BYD has begun construction of a number of systems around the world including the Guang'an Metro and the Guilin Metro in China, Line 17 in São Paulo and the SkyRail Bahia, both in Brazil. BYD is also part of a consortium that was awarded a pre-development contract to build a monorail from the San Fernando Valley to LAX via the Sepulveda Pass in Los Angeles. (Another group is developing an alternate plan for a subway.)
BYD also have a rubber-tyred tram product, known as "SkyShuttle". Bishan rubber-tyred tram in Chongqing is operational. Pingshan SkyShuttle Line 1 in Shenzhen, Xi'an High-tech Zone Tram in Xi'an, Line T2 of Guiyang Tram in Guiyang are under construction.
Mobile phone components
The company has its corporate headquarters in the Pingshan District, Shenzhen, Guangdong province. Its North American headquarters are in Downtown Los Angeles, and BYD has sales offices in various countries.
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.
In 2017, PV Magazine has 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.
BYD (H.K.) Co Ltd
- Golden Link Worldwide Ltd is an investment holding company incorporated in the British Virgin Islands. A wholly owned subsidiary of BYD (H.K.) Co Ltd, itself a wholly owned subsidiary of BYD Co Ltd, as of 2007 Golden Link held nearly 70% issued share capital of BYD Electronic (International) Co Ltd.
Shenzhen BYD Electronic Parts Co Ltd
Production and sale of NiMH and NiCD batteries, hardware products, instruments and flexible printed circuit boards are performed by this subsidiary.
Shenzhen BYD Microelectronics Co Ltd
Shenzhen BYD Daimler New Technology Company
A joint venture with German Daimler AG, Denza focuses on producing electric vehicles that eschew the BYD brand name.
BYD Electronic Co Ltd
BYD Electronic Hungary Kft
Originally Mirae Hungary Industrial Manufacturer Ltd, and responsible for the manufacture and sale of mobile handset components, BYD Electronic Hungary Kft was purchased from Mirae Industry Co Ltd on 12 February 2008. Prior to the purchase, it manufactured handset housings for Nokia.
Foshan Jinhui Hi-tech Optoelectronic Material Co Ltd
BYD Toyota EV Technology CO., LTD.
In April 2020, BYD and Toyota completed registration of the new company BYD Toyota EV Technology CO., LTD. (BTET) to jointly Research and Develop battery electric vehicles (BEVs) for the Chinese market.
Production bases and facilities
BYD has many production bases, including three locations in Shenzhen (one of which is on the self-titled 'BYD Road' (simplified Chinese: 比亚迪路; traditional Chinese: 比亞迪路; pinyin: Bǐyàdí Lù) in Pingshan District, Shenzhen), as well as sites in Huizhou, Shanxi, and Shanghai.
Auto production bases include an automobile assembly line in Xi'an, a K9 electric bus manufacturing plant in Dalian, a photovoltaic module (solar panel) Bloomberg New Energy Finance Tier 1 manufacturing plant in Beijing, an R&D center and nascent automobile assembly line in Shenzhen, and an R&D center in Shanghai.
US operations can be found in Elk Grove Village, Illinois, and San Francisco, California. BYD also acquired a site for a future North American headquarters in downtown Los Angeles, and has built and operates a manufacturing plant in Lancaster, California, near Los Angeles.
BYD has three factories in Brazil, the first of which opened in 2015 for the production of electric buses. 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.
On April 27, 2020, BYD hired attorney Charles Harder and filed a federal civil complaint in U.S. District Court, Southern District of New York, against VICE Media alleging defamation for a story that was published on April 11, 2020.
In addition to patent litigation, Foxconn has sued BYD in Hong Kong and Illinois court in 2007, alleging that BYD poached 50 Foxconn employees and was complicit in the stealing of trade secrets, in order to set up a competing cell phone manufacturing operation. Court proceedings were brought before BYD Electronic was spun off by BYD later in 2007, delaying the public listing on the Hong Kong stock exchange by half a year.
Foxconn also opened proceedings in the district where BYD is headquartered, at the Shenzhen Intermediate People’s Court, which referred the case to the Supreme People’s Court, which in turn commissioned an appraisal by the Beijing JZSC Intellectual Property Forensic Center into files in BYD's possession which were alleged to belong to Foxconn. Eventually the Shenzhen court made the final judgment: BYD's files contained non-public information originating from Foxconn, which could bring economic benefits to the holders, thereby, BYD was found guilty of infringing Foxconn’s trade secrets.
Afterwards, Foxconn withdrew the civil proceedings against BYD in mainland China, and sought criminal prosecution instead. On March 20, 2008, the former executive director and Vice President of BYD was arrested. Then on March 24 and 31 2008 two former employees of Foxconn were arrested and sentenced to 1 year and 4 months, and 4 years in prison respectively.
In the media
- In September 2008, MidAmerican Energy Holdings, a subsidiary of Warren Buffett's Berkshire Hathaway Inc., invested about US$230 million for a 10% (or 9.89%<) share of BYD @ HK$8/share.
- "Why China's War on Pollution Affects the Whole World". Bloomberg.com. Archived from the original on 9 March 2018. Retrieved 9 March 2018 – via www.bloomberg.com.
Beneficiaries include BYD Co., a Warren Buffett-backed carmaker that soared 67 percent last year and sold more cars than Tesla.
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"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...
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