Company profile · Electric vehicles and batteries
BYD
比亚迪股份有限公司
BYD is the world's largest maker of new-energy vehicles and one of its largest battery producers: a Shenzhen company that began with rechargeable batteries in 1995, bought a car maker in 2003, stopped building combustion-only cars in 2022 and now sells electric and plug-in hybrid cars, buses, trucks and batteries on every continent.
Key facts
Overview
BYD ('Build Your Dreams') was founded by Wang Chuanfu in Shenzhen in 1995 as a maker of rechargeable batteries for mobile phones and became a global supplier to Nokia and Motorola. In 2003 it bought Qinchuan Auto and entered car making; in 2008 Berkshire Hathaway bought a 10 % stake. The company's vertical integration — its own batteries (the Blade lithium-iron-phosphate cell), semiconductors, motors and electronics — allowed it to cut costs faster than rivals as China's electric-vehicle market took off, and in March 2022 it became the first major maker to end production of purely combustion-engined cars.
BYD sold more than four million new-energy vehicles in 2024 and has built or announced plants in Thailand, Brazil, Hungary, Turkey, Indonesia and elsewhere as it expands abroad. Its subsidiaries include FinDreams (batteries and components), BYD Electronic (contract manufacturing) and Denza (premium brand with Mercedes-Benz heritage); the Yangwang and Fangchengbao brands cover the top of the range.
Market position
The largest seller of new-energy vehicles worldwide and the largest Chinese car maker by volume; second only to CATL in EV battery output. Its position rests on cost leadership through vertical integration and on a broad range from small city cars to premium and commercial vehicles.
Key strengths
- Vertical integration from cells and semiconductors to finished vehicles
- Blade battery (LFP) with cost and safety advantages
- Scale: the largest NEV volume in the world
- Fast-growing overseas plants and dealer networks
- Buses and trucks alongside passenger cars
What the company does
Passenger vehicles
- Battery electric vehicles
- Plug-in hybrids (DM-i)
- Denza, Yangwang and Fangchengbao brands
Commercial vehicles
- Electric buses
- Electric trucks and forklifts
Batteries and components
- Blade LFP battery cells and packs (FinDreams)
- Energy storage systems
- Motors, power electronics and semiconductors
Electronics manufacturing
- BYD Electronic contract manufacturing for consumer electronics
Present in about 100 countries. Regions: China, Europe, Southeast Asia, Latin America, Middle East, Australia. Plants in Thailand and Brazil; Hungary plant under construction; assembly in several other markets.
For a foreign counterparty
- Price and range
- For dealers and fleet buyers, BYD offers the widest electric range at the lowest price points in most markets.
- Battery supply
- FinDreams sells LFP cells and storage systems to third parties, including energy-storage integrators.
- Local production
- Plants in Thailand, Brazil and Hungary reduce tariff and logistics exposure for those markets.
Considerations
- Trade defence
- EU countervailing duties on Chinese battery electric vehicles from 2024 (17 % for BYD) and 100 % US Section 301 tariffs on Chinese EVs shape where BYD cars can be sold at what price.
- Profit under price pressure
- BYD's 2025 net profit fell for the first time in five years amid China's EV price war, and the company cut its workforce; margins are thin for dealers as well.
- Service network maturity
- Overseas after-sales and parts networks are younger than those of incumbents.
Milestones
- 1995-02 — Founded in Shenzhen as a rechargeable-battery maker
- 2002-07 — Listed in Hong Kong
- 2003-01 — Acquires Qinchuan Auto and enters car making
- 2008-09 — Berkshire Hathaway buys a 10 % stake
- 2020-03 — Launches the Blade battery
- 2022-03 — Ends production of purely combustion-engined cars
- 2023 — Sells more than three million NEVs in a year
- 2024 — NEV sales exceed four million; Thailand plant opens
- 2025 — 2025 results: revenue 804 billion yuan, first profit decline in five years; workforce reduced to about 870,000
Official site: www.byd.com
Frequently asked questions
Other companies in electric vehicles and batteries: CATL
Sources
- BYD reports revenue growth but falling profits in 2025 — Internet Info Agency (retrieved 6 September 2026)
- BYD 2025 annual report in context — CleanTechnica (retrieved 6 September 2026)
- EU countervailing duties on battery electric vehicles from China (2024) — European Commission (retrieved 6 September 2026)
- BYD Company Limited — investor relations — BYD (retrieved 6 September 2026)
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