BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life.
BYD Co. Ltd. is a publicly listed Chinese conglomerate manufacturing company headquartered in Shenzhen, Guangdong, China. It was founded by Wang Chuanfu in February 1995. The company has two major subsidiaries, BYD Automobile and BYD Electronic. BYD Company manufactures automobiles, buses, electric bicycles, trucks, forklifts, solar panels and rechargeable batteries.
It 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”.
China remains a pivotal market for electric vehicles, with BYD’s sales accounting for a sizable portion. Tesla, despite its global presence, relies on China for around one-fifth of its sales in the quarter ending September 30th.
Li Auto, Xpeng, and other Chinese EV companies hit good numbers for deliveries, scaling YoY and Month over Month numbers.
BYD faces fierce competition from both domestic rivals and Tesla in a relentless price war. The battle for market share led to price cuts from all sides, with the goal of increasing accessibility and product penetration.