BYD Auto, BYD is a giant electric car company from China.

BYD Co. Ltd, short for “Build Your Dream,” is a Chinese company founded in 1995 by Wang Chuanfu. Currently, he serves as the president, CEO and chairman of the board of the company and ranks 39th on China’s list of billionaires. The company’s initial business was mobile phone batteries before expanding to become the world’s second-largest manufacturer of mobile phone batteries.

BYD entered the automotive business in 2002 through the acquisition of Tsinchuan Automobile Co. Ltd, which became its subsidiary and subsequently changed its name to BYD Auto Co., Ltd.

In the early stages, BYD also manufactured and sold conventional fuel vehicles with a highlight being the design of cars resembling brands from Japan and Europe. However, in 2008, the Chinese government implemented policies to promote electric vehicles, prompting BYD to decide to produce the first plug-in hybrid electric vehicle in the form of the BYD F3DM. This move garnered significant interest in the industry, to the extent that Warren Buffet acquired a 10% stake in BYD’s parent company (equivalent to around $230 million at the time). This was because, at that time, the United States and Europe had not shown much interest or had the capability to develop technology in this area prominently.

The model that made BYD more widely known is the BYD Qin a plug-in hybrid electric vehicle introduced in 2013. It rose to become the best-selling car in China in 2014 and ranked 7th among the top-selling plug-in electric cars in 2014. In 2015, its sales climbed to the 4th position among plug-in electric vehicles worldwide, following Tesla Model S, Nissan Leaf, and Mitsubishi Outlander PEV, with BMW i3 ranking 5th.

BYD is expanding its electric vehicle empire.

Last year, BYD rose to become the best-selling electric car brand in China, with 108,612 units sold marking a 9% increase from 2016. This elevated BYD to hold a 19% market share of electric vehicles in China the previous year.

However, Chinese car brands still face challenges in Western markets, with limited recognition and reputation. Last year, BYD expanded its presence outside China, especially in Asia, primarily focusing on electric buses, trucks, and batteries rather than personal vehicles.

Nevertheless, BYD is striving to improve its international image in various ways. This includes hiring Leonardo DiCaprio as a Brand Ambassador and appointing Wolfgang Egger, former head of design at Audi, as the company’s design chief. Additionally, BYD is preparing to build an electric car manufacturing plant in Morocco by the end of last year, signaling its intent to penetrate Western markets soon.

Why build a factory in Morocco for expanding into Western markets? Because Morocco is strategically located in northeastern Africa, adjacent to Spain, and is a logical location for selling cars in Europe. Renault and Peugeot have already established factories in Morocco to sell in Europe.

As for penetrating the United States car market it doesn’t seem to be BYD’s current plan. The company perceives the U.S. as having less appetite for clean energy vehicles compared to Europe or India given the relatively low gasoline prices and the current trade policy challenges under the Trump administration.

The strengths of BYD’s business include

1. Electric Vehicles (EVs) : BYD is renowned for its electric vehicles which encompass electric cars, buses, trucks and trains. The company prioritizes the development of electric transportation solutions to address environmental issues and reduce reliance on fossil fuels. Most recently, BYD electric cars, also known as Build Your Dream, have been introduced in Thailand and gained significant popularity.
2. Rechargeable Batteries : Apart from EVs, the company also plays a significant role in manufacturing rechargeable batteries, especially lithium iron phosphate (LiFePO4) batteries. These batteries are widely used in electric vehicles and energy storage systems.
3. Energy Storage : BYD has expanded its business to provide energy storage solutions for household, commercial and large-scale industrial applications. These energy storage systems are used to store electricity generated from clean energy sources such as solar and wind power, ensuring stable and reliable energy supply.
4. Monorail Systems : BYD has developed Monorail Transit Systems which serve as an alternative transportation method for urban areas. These systems are designed to be environmentally friendly and efficient, addressing traffic congestion and mobility issues within urban areas.
5. Solar Power : The company also participates in the solar energy industry by manufacturing solar panels and providing leading solar energy solutions for residential, commercial and industrial applications.
6. Electronics : Apart from its core businesses in electric vehicles and clean energy, BYD also engages in consumer electronics manufacturing such as smartphones and rechargeable batteries for electronic devices.

BYD has gained international recognition for its ability to innovate electric vehicles and clean energy technologies. It is a leader in developing electric transportation-related solutions and has garnered interest due to its innovative technologies. The company’s founder, Wang Chuanfu, is an influential figure in promoting electric vehicles and sustainable technologies in China and globally.

Timeline of BYD, the giant electric car company from China that does more than just cars.

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