BYD Company

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BYD Co Ltd
比亚迪股份有限公司
TypePublic
SEHK1211
SZSE: 002594
IndustryAutomobiles, Buses, Electric bicycle, Truck, Forklift, Solar Panels, Rechargeable batteries
FoundedFebruary 1995; 26 years ago (1995-02)
FounderWang Chuanfu
Headquarters,
China
Area served
Worldwide
Key people
Wang Chuanfu (Chairman, CEO)
ProductsGasoline and electric cars, battery-powered bicycles, buses, trucks, forklifts, monorail train and buses, photovoltaic modules (solar panels), face masks, rechargeable batteries, and handset components.
RevenueUS$8.5 billion (2013)
5,480,012,000 renminbi (2016) Edit this on Wikidata
Total assets145,070,778,000 renminbi (2016) Edit this on Wikidata
Owner
Number of employees
229,154 (2020) [5]
SubsidiariesBYD Automobile
BYD Electronic
Websitewww.byd.com
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 Co. Ltd. ("Build Your Dreams") is a Chinese manufacturing company headquartered in Shenzhen, Guangdong, founded by Wang Chuanfu in February 1995.[6] 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).[7]

Name[edit]

The name BYD is an abbreviation of "Build Your Dreams".[8]

History[edit]

BYD US Headquarters in Los Angeles

Founded in February 1995[6] and listed on the Hong Kong Stock Exchange on 31 July[9] 2002,[10] BYD Co Ltd began as a rechargeable-battery factory competing in the Chinese market against Japanese imports.[7]

Early growth[edit]

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.[11][7] BYD topped the 2010 Bloomberg Businessweek Tech 100 list, a list of large, fast-growing tech companies.[12] Replacing work done by machines with cheap, local labor lowered costs, and the company began expanding beyond batteries adding automobiles and mobile phone components.[11]

Automobiles[edit]

A year after the 2002 acquisition of Tsinchuan Automobile Co Ltd, BYD Automobile Co Ltd was born.[9] One of many Chinese automakers, in 2010 it was the sixth largest in terms of sales volume.[13]

Seeking to utilize BYD battery production resources, it sells electric cars in addition to gasoline-powered models.

Rail Transit[edit]

Skyrail Monorail[edit]

In 2016, BYD unveiled a working monorail prototype marketed as "Skyrail"[14][15][16] and announced they will enter the global rail transit market.[17] The first public Skyrail line opened as a 9.7 km (6.0 mi) long loop line in Yinchuan's flower expo in 2018.[18][19] 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.[20] (Another group is developing an alternate plan for a subway.)

Rubber-tyred Tram[edit]

BYD also have a rubber-tyred tram product, known as "SkyShuttle".[21] Bishan rubber-tyred tram in Chongqing is operational.[22] 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[edit]

Mobile phone components were added to the BYD product line in the early 2000s. But this business, BYD Electronic, was spun off in 2007.[23]

Corporate affairs[edit]

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.[24]

Innovation[edit]

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.[25]

In 2010, BusinessWeek ranked BYD the eighth most innovative company in the world [26] and that same year saw Fast Company ranking BYD as the 16th most innovative.[27]

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.[28]

Subsidiaries[edit]

The company has a number of subsidiaries, including BYD Auto. The following is an incomplete list.[29]

BYD (H.K.) Co Ltd[edit]

Trading in NiCd, NiMH and Li-ion batteries and related products,[29] it is a wholly owned subsidiary of BYD Co Ltd that in turn wholly owns Golden Link Worldwide Limited.[23]

Shenzhen BYD Electronic Parts Co Ltd[edit]

Production and sale of NiMH and NiCD batteries, hardware products, instruments and flexible printed circuit boards are performed by this subsidiary.[29]

Shenzhen BYD Microelectronics Co Ltd[edit]

Established in 2002,[31] it is responsible for the design, production and sale of ICs for use in the mobile phone industry.[32] It is registered as a sino-foreign joint venture.[29]

Shenzhen BYD Daimler New Technology Company[edit]

A joint venture with German Daimler AG, Denza focuses on producing electric vehicles that eschew the BYD brand name.

BYD Electronic Co Ltd[edit]

An investment holding company incorporated in the Cayman Islands.[29]

BYD Electronic Hungary Kft[edit]

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.[29] Prior to the purchase, it manufactured handset housings for Nokia.[29]

Foshan Jinhui Hi-tech Optoelectronic Material Co Ltd[edit]

A joint venture with Foshan Plastic Group Co Ltd and BYD (H.K) Co Ltd,[33] it manufactures material ion exchange membranes.[29]

BYD Toyota EV Technology CO., LTD.[edit]

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.[34]

Production bases and facilities[edit]

BYD has many production bases, including three locations in Shenzhen[35] (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),[35] as well as sites in Huizhou,[35] Shanxi,[6] and Shanghai.[6]

Auto production bases include an automobile assembly line in Xi'an, a K9 electric bus manufacturing plant in Dalian,[36] 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.[9]

US operations can be found in Elk Grove Village, Illinois, and San Francisco, California.[7] 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.[37]

In 2019 a bus plant opened in Newmarket, Ontario to handle orders in Canada.[38]

By 2020, BYD converted some of its equipment to produce 5 million N95 masks per day to reduce the spread of COVID-19.[39][40][41]

BYD has three factories in Brazil, the first of which opened in 2015 for the production of electric buses.[42] 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.[43][44]

BYD has two electric bus assembly facilities in Europe in Komarom, Hungary and Beauvais, France.[45]

BYD built a new facility in Chongqing, China for producing its blade batteries,[46] which are considered to be the safest EV batteries.[47]

Legal disputes[edit]

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,[48] against VICE Media alleging defamation for a story that was published on April 11, 2020.

BYD was unsuccessfully sued by Sony and Sanyo for patent infringement. The Taiwanese OEM Foxconn has also brought a suit against the company for the same reason.[49]

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.[50] Court proceedings were brought before BYD Electronic was spun off by BYD later in 2007, delaying the public listing[51] on the Hong Kong stock exchange by half a year.[52]

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.[51]

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.[51]

BYD issued a counterclaim to Foxconn in Hong Kong court, alleging defamation and bribery of Chinese officials as well as intimidation on Foxconn's part.[50]

In the media[edit]

See also[edit]

References[edit]

  1. ^ "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.
  2. ^ a b c "BYD Company". Archived from the original on 28 October 2016. Retrieved 27 October 2016.
  3. ^ "Archived copy". Archived from the original on 17 April 2021. Retrieved 1 September 2020.CS1 maint: archived copy as title (link)
  4. ^ a b "Archived copy". Archived from the original on 17 April 2021. Retrieved 1 September 2020.CS1 maint: archived copy as title (link)
  5. ^ "Archived copy". Archived from the original on 17 April 2021. Retrieved 25 March 2021.CS1 maint: archived copy as title (link)
  6. ^ a b c d Company Profile Archived 27 April 2009 at the Wayback Machine BYD Official Site
  7. ^ a b c d Marc Gunther (13 April 2009). "Why Warren Buffett is investing in electric car company BYD". Fortune. Archived from the original on 27 April 2009. Retrieved 2 May 2009.
  8. ^ A Small Showing, but With Big Dreams Archived 29 September 2017 at the Wayback Machine NICK BUNKLEY Published: 12 January 2009
  9. ^ a b c Company Profile Archived 26 August 2009 at the Wayback Machine BYD Auto Official Site
  10. ^ to BYD[permanent dead link] Company Introduction, BYD Official Site
  11. ^ a b Fishman, Ted (28 February 2005). China, Inc.: How the Rise of the Next Superpower Challenges America and the World. Simon and Schuster. p. 215. ISBN 978-0-7432-8440-0.
  12. ^ "The Tech 100". BusinessWeek. Archived from the original on 24 May 2010. Retrieved 26 May 2010.
  13. ^ China Car Market 101: Who Makes All Those 18 Million Cars? Archived 22 January 2011 at the Wayback Machine thetruthaboutcars.com, 19 January 2011
  14. ^ "云轨-轨道交通产品". 25 May 2020. Archived from the original on 15 June 2020. Retrieved 25 May 2020.
  15. ^ "SKYRAIL". BYD USA. Archived from the original on 2 May 2019. Retrieved 2 May 2019.
  16. ^ "BYD SkyRail" (PDF).
  17. ^ "BYD Unveils SkyRail Test Track In Shenzhen, China". CleanTechnica. 14 October 2016. Archived from the original on 2 May 2019. Retrieved 2 May 2019.
  18. ^ "New unmanned SkyRail service unveiled in NW China". chinaplus.cri.cn. Archived from the original on 4 May 2019. Retrieved 4 May 2019.
  19. ^ 网易 (27 January 2021). "云轨跑起来了?桂林云轨1号线票价预测". www.163.com. Retrieved 29 March 2021.
  20. ^ "SkyRail Express, Metro to Explore Development of Sepulveda Pass Monorail". San Fernando Valley Business Journal. 1 July 2021. Retrieved 3 July 2021.
  21. ^ "云巴-轨道交通产品". Archived from the original on 15 June 2020. Retrieved 25 May 2020.
  22. ^ 人民网 (10 April 2021). "无人驾驶"云巴"16日在璧山开通".
  23. ^ a b c d "BYD Electronic (International) Company Limited Annual Report 2007" (PDF). 2007. Archived from the original (PDF) on 8 July 2011. Retrieved 12 October 2010. "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...
  24. ^ "Contact Us Archived 22 February 2015 at the Wayback Machine." BYD Company. Retrieved on 17 June 2015. "BYD COMPANY LIMITED Headquarters Add.: No.3009, BYD Road, Pingshan, Shenzhen, 518118, P.R.China " - Chinese address Archived 23 May 2015 at the Wayback Machine: "比亚迪股份有限公司 总部 地址:深圳市坪山新区比亚迪路3009号 邮编:518118 " - "BYD North America Headquarters Add.:1800 S. Figueroa Street, Los Angeles, CA90015, USA"
  25. ^ break all the rules: A special report on innovation in emerging markets; The charms of frugal innovation Archived 17 April 2021 at the Wayback Machine economist.com, 15 April 2010
  26. ^ "The 50 Most Innovative Companies 2010". BusinessWeek. Archived from the original on 18 April 2010. Retrieved 17 April 2010.
  27. ^ "The World's Most Innovative Companies 2010". Fast Company. Archived from the original on 19 April 2010. Retrieved 17 April 2010.
  28. ^ "BYD STRIDES FORWARD WITH A HIGH VOLTAGE BATTERY STORAGE SYSTEM, PV Magazine 2017-12-08 Retrieved 2018-05-25". Archived from the original on 26 May 2018. Retrieved 25 May 2018.
  29. ^ a b c d e f g h i "BYD Co Ltd 2008 Annual Report" (PDF). Archived from the original (PDF) on 8 July 2011. Retrieved 12 October 2010.
  30. ^ "Further Reorganisation of the Be Group for the Proposed Spin-Off And Adjournment of Egms in Respect of the Proposed Spin-Off" (PDF). Archived from the original (PDF) on 16 July 2011. Retrieved 12 October 2010.
  31. ^ BYD Acquires SinoMOS Archived 15 October 2008 at the Wayback Machine tradingmarkets.com Wed. 8 October 2008
  32. ^ BYD Said to Buy Wafer Assets[permanent dead link] tradingmarkets.com Wed. 8 October 2008
  33. ^ Foshan Plastic Group starts special cell production.(NEWSDESK: Cooperation)(Foshan Jinhui High-Tech Photoelectric Material Co. Ltd.) China Chemical Reporter, 26 February 2006
  34. ^ "BYD and Toyota to jointly produce BEVs for China". www.autodevot.com. Archived from the original on 11 April 2020. Retrieved 3 April 2020.
  35. ^ a b c BYD Co Ltd Company Brochure Archived 15 February 2010 at the Wayback Machine BYD Auto Official Site
  36. ^ "港媒:比亚迪纯电动巴士大连下线 电池项目已正式启动". 凤凰财经 (in Chinese). Archived from the original on 29 December 2014. Retrieved 29 December 2014.
  37. ^ For Illinois location, see "Chinese Auto Maker BYD Locating its North American Headquarters Downtown on Figueroa". blogdowntown. 30 April 2010. Archived from the original on 4 May 2010. Retrieved 1 May 2010.
  38. ^ "BYD Opens First Canadian Bus Assembly Plant". BYD North America. Archived from the original on 17 April 2021. Retrieved 24 January 2020.
  39. ^ Xie, John (19 March 2020). "World Depends on China for Face Masks But Can Country Deliver? | Voice of America - English". www.voanews.com. Voice of America. Archived from the original on 21 March 2020.
  40. ^ Newhauser, Daniel; Hamilton, Keegan (11 April 2020). "Trump Blacklisted This Chinese Company. Now It's Making Coronavirus Masks for U.S. Hospitals". Vice News. Archived from the original on 22 April 2020. Retrieved 30 April 2020.
  41. ^ Myers, John (20 April 2020). "Newsom's secretive $1-billion mask deal with Chinese automaker sparks bipartisan concerns". Los Angeles Times. Archived from the original on 22 April 2020. Retrieved 30 April 2020.
  42. ^ "Press Release: BYD Company Announces First Factory In Brazil". BYD USA. Archived from the original on 13 January 2021. Retrieved 11 January 2021.
  43. ^ "Archived copy". www.electrive.com. Archived from the original on 26 January 2021. Retrieved 11 January 2021.CS1 maint: archived copy as title (link)
  44. ^ "BYD Starts Operations at its Lithium Iron Phosphate Battery Factory in Brazil". 1 September 2020. Archived from the original on 25 October 2020.
  45. ^ Editorial (15 May 2019). "BYD: Electric bus production in Hungary will grow". Sustainable Bus. Archived from the original on 14 January 2021. Retrieved 12 January 2021.
  46. ^ "A Glimpse into BYD's Blade Battery Factory in Chongqing". FinanzNachrichten.de (in German). Archived from the original on 6 November 2020. Retrieved 11 January 2021.
  47. ^ Krivevski, Blagojce. "BYD Launches Blade Battery Pack Set to 'Redefine' EV Safety Standards". Archived from the original on 30 November 2020. Retrieved 11 January 2021.
  48. ^ "BYD files federal defamation lawsuit against VICE". Archived from the original on 21 May 2020. Retrieved 28 April 2020.
  49. ^ a b Joanne Chiu and Alison Leung (29 September 2008). "Buffett's BYD endorsement sends shares soaring". Reuters. Archived from the original on 7 February 2009. Retrieved 3 May 2009.
  50. ^ a b "A look inside Foxconn - where iPhones are made: a postmodern Chinese industrial empire that was blighted by suicides". 12 September 2010. Archived from the original on 15 June 2019. Retrieved 22 May 2019.
  51. ^ a b c "Commercial espionage between Foxconn and BYD". ipr.chinadaily.com.cn. Archived from the original on 18 October 2016. Retrieved 22 May 2019.
  52. ^ "Move to metal casings for smartphones to benefit BYD Electronic, Ju Teng". South China Morning Post. 15 April 2014. Archived from the original on 11 June 2017. Retrieved 22 May 2019.
  53. ^ Car Designer Sees China’s Wheels Electric-powered[permanent dead link] BYD Press Release, 12 May 2009

External links[edit]