BYD Auto Co. Ltd., founded in 1995 in Shenzhen, China, is a manufacturer of automotive and energy technologies. Adopting the slogan “Build Your Dreams,” the company initially operated in the battery production sector and entered the automotive industry in 2003. Since 2020, BYD has increased production volumes in electric and hybrid vehicles. The company implements a vertically integrated model by producing both batteries and vehicles internally.
BYD Logo (BYD Official Website)
Historical Development
Initially focused on rechargeable battery production, BYD entered the automotive sector in 2003 by acquiring Qinchuan Automobile Company. With the launch of the plug-in hybrid F3DM in 2008, the company took pioneering steps in the electric vehicle market and developed various hybrid and fully electric models during the 2010s. By 2024, BYD surpassed Tesla in annual sales and became the global leader in new energy vehicle (NEV) sales.
Product Range
Electric Vehicles (BEV)
- Dolphin
- Seal
- Han EV
- Atto 3
Plug-in Hybrid Models (DM-i, DM-p Series)
- Qin Plus DM-i
- Song Plus DM-i
- Destroyer 05
Premium and Sub-brand Initiatives
- Denza (collaboration with Mercedes-Benz)
- Yangwang (luxury BEV segment)
- Fang Cheng Bao (SUV segment)
Electric Vehicle Technology
BYD uses its in-house developed Blade Battery (LFP – Lithium Iron Phosphate) system and the e-Platform 3.0 infrastructure to achieve high integration, modularity, and energy efficiency. Advanced driver assistance systems (ADAS) are integrated through “DiPilot” and “God’s Eye” L2+ autonomous support systems. Technical investments also continue in battery cooling safety, energy recuperation, and fast charging across multiple platforms.
Global Production Network and Financial Performance
BYD is expanding production beyond China with new facilities in Thailand, Brazil, Hungary, and Turkey. The planned EV production plant in Turkey is positioned as a regional hub for the European market.
As of 2024, the company reported total revenue of 777.1 billion CNY (~107 billion USD) and net profit of 40.25 billion CNY. That year, 4.27 million NEVs were sold, with 1.52 million delivered in the final quarter. This represents a 41% year-on-year increase in sales volume.
Market Performance and International Growth
BYD experienced rapid growth particularly in Asia, Europe, and Latin America. Vehicle deliveries in Europe increased by 83% in 2024, while market share in Latin America expanded through SUV and sedan models. Outside China, the highest sales growth occurred in emerging markets such as Thailand, Brazil, and Hungary. Short-term entry into the North American market has not been planned, with focus placed on Hungary and Turkey for European production.
Strategic Goals and Future Planning
BYD’s medium-term targets include raising annual exports to 800,000 units and total sales volume to 5–6 million vehicles by 2025. The company plans to increase the share of international sales to 50% of total volume by 2030 and expand BEV and PHEV model variety for different markets. By 2050, BYD aims to implement sustainability policies that reduce environmental impact and carbon emissions throughout its supply chain.
