BYD Company

BYD Co Ltd
比亚迪股份有限公司
Public
Traded as SEHK: 1211
SZSE: 002594
Industry Automobiles, Buses, Electric bicycle, Truck, Forklift, Rechargeable batteries
Founded 1995 (1995)
Headquarters Shenzhen, Guangdong, China
Area served
 Worldwide
Key people
 Founder, Chairman & CEO Wang Chuanfu (王传福)
Products Gasoline and electric cars, battery-powered bicycles, buses, truck, forklift, rechargeable batteries and handset components.
Revenue US$8.5 billion (2013)
Owner
Number of employees
 220,000 in 2017[3]
Subsidiaries BYD Automobile
BYD Electronic
Website www.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 is a Chinese manufacturer of automobiles, battery-powered bicycles, buses, forklifts, rechargeable batteries, trucks, etc[4] with its corporate headquarters in Shenzhen. It has two major subsidiaries, BYD Automobile and BYD Electronic and was founded in February 1995.

BYD has grown to become a major manufacturer of automobiles, battery-powered bicycles, buses, truck, forklift, rechargeable batteries, most notably mobile-phone batteries.[5]

BYD topped the 2010 Bloomberg Businessweek Tech 100 list, a list of large, fast-growing tech companies.[6]

Name

The name BYD is an acronym derived from the phrase "Build Your Dreams".[7]

History

BYD US Headquarter in Los Angeles

Founded in February 1995[4] and listed on the Hong Kong Stock Exchange on 31 July,[8] 2002,[9] BYD Co Ltd began as a rechargeable-battery factory competing in the Chinese market against Japanese imports.[5]

Early growth

BYD grew quickly within ten years capturing more than half the world's mobile-phone battery market[10] and becoming the largest Chinese manufacturer (and in the top four worldwide) of all types of rechargeable batteries.[5] Replacing work done by machines with cheap, local labor lowered costs,[10] and the company began expanding beyond batteries adding automobiles and mobile phone components.

Automobiles

A year after the 2002 acquisition of Tsinchuan Automobile Co Ltd, BYD Automobile Co Ltd was born.[8] One of many Chinese automakers, in 2010 it was the sixth largest in terms of sales volume.[11]

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

In late 2017, the premier of the government of Ontario, Canada announced that BYD would open a factory in the province to manufacture electric vehicles. Other sources indicated that the plant could open as early as 2018.[12] BYD already had a small Canadian office in Windsor, Ontario at the time.[13]

Mobile phone components

Mobile phone components were added to the BYD product line in the early 2000s. But this business, BYD Electronic, was spun off in 2007.[14]

Corporate affairs

The company has its corporate headquarters in the Pingshan New Area in Longgang District, Shenzhen, Guangdong province. Its North American headquarters are in Downtown Los Angeles, and BYD has sales offices in various countries.[15]

Innovation

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.[16]

In 2010, BusinessWeek ranked BYD the eighth most innovative company in the world [17] and that same year saw Fast Company ranking BYD as the 16th most innovative.[18]

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. [19]

Subsidiaries

The company has a number of subsidiaries, including BYD Auto. The following is an incomplete list.[3]

BYD (H.K.) Co Ltd

Trading in NiCd, NiMH and Li-ion batteries and related products,[3] it is a wholly owned subsidiary of BYD Co Ltd that in turn wholly owns Golden Link Worldwide Limited.[14]

Shenzhen BYD Electronic Parts Co Ltd

Production and sale of NiMH and NiCD batteries, hardware products, instruments and flexible printed circuit boards are performed by this subsidiary.[3]

Shenzhen BYD Microelectronics Co Ltd

Established in 2002,[21] it is responsible for the design, production and sale of ICs for use in the mobile phone industry.[22] It is registered as a sino-foreign joint venture.[3]

Shenzhen BYD Daimler New Technology Company

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

BYD Electronic Co Ltd

An investment holding company incorporated in the Cayman Islands.[3]

BYD Electronic Hungary Kft

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.[3] Prior to the purchase, it manufactured handset housings for Nokia.[3]

Foshan Jinhui Hi-tech Optoelectronic Material Co Ltd

A joint venture with Foshan Plastic Group Co Ltd and BYD (H.K) Co Ltd,[23] it manufactures material ion exchange membranes.[3]

Production bases and facilities

BYD has many production bases, including three locations in Shenzhen[24] (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 New District, Longgang District, Shenzhen),[24] as well as sites in Huizhou,[24] Shanxi,[4] and Shanghai.[4]

Auto production bases include an automobile assembly line in Xi'an, a K9 electric bus manufacturing plant in Dalian,[25] a module manufacturing plant in Beijing, an R&D center and nascent automobile assembly line in Shenzhen, and an R&D center in Shanghai.[8]

US operations can be found in Elk Grove Village, Illinois, and San Francisco, California.[5] 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.[26]

BYD was unsuccessfully sued by Sony and Sanyo for patent infringement.[5] Foxconn has also brought a suit against the company for the same reason.[27]

In the media

See also

References

  1. ↑ "Why China's War on Pollution Affects the Whole World". Bloomberg.com. Retrieved 2018-03-09 – 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. 1 2 3 "BYD Company". Retrieved 27 October 2016.
  3. 1 2 3 4 5 6 7 8 9 10 "BYD Co Ltd 2008 Annual Report" (PDF). Retrieved 12 October 2010.
  4. 1 2 3 4 Company Profile BYD Official Site
  5. 1 2 3 4 5 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.
  6. ↑ "The Tech 100". BusinessWeek. Archived from the original on 24 May 2010. Retrieved 26 May 2010.
  7. ↑ A Small Showing, but With Big Dreams NICK BUNKLEY Published: 12 January 2009
  8. 1 2 3 Company Profile Archived 26 August 2009 at the Wayback Machine. BYD Auto Official Site
  9. ↑ to BYD Company Introduction, BYD Official Site
  10. 1 2 China, Inc. By Ted Fishman Google Books, page 215
  11. ↑ China Car Market 101: Who Makes All Those 18 Million Cars? thetruthaboutcars.com, 19 January 2011
  12. ↑ http://www.businessreviewcanada.ca/marketing/2202/Chinas-BYD-to-open-electric-vehicle-plant-in-Ontario
  13. ↑ https://www.thestar.com/news/queenspark/2017/12/01/chinese-truck-manufacturer-to-open-ontario-factory-premier-says-on-trade-trip.html?source=newsletter
  14. 1 2 3 4 "BYD Electronic (International) Company Limited Annual Report 2007" (PDF). 2007. 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...
  15. ↑ "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: "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"
  16. ↑ break all the rules: A special report on innovation in emerging markets; The charms of frugal innovation economist.com, 15 April 2010
  17. ↑ "The 50 Most Innovative Companies 2010". BusinessWeek. Archived from the original on 18 April 2010. Retrieved 17 April 2010.
  18. ↑ "The World's Most Innovative Companies 2010". Fast Company. Archived from the original on 19 April 2010. Retrieved 17 April 2010.
  19. ↑ BYD STRIDES FORWARD WITH A HIGH VOLTAGE BATTERY STORAGE SYSTEM, PV Magazine 2017-12-08 Retrieved 2018-05-25
  20. ↑ "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.
  21. ↑ BYD Acquires SinoMOS tradingmarkets.com Wed. 8 October 2008
  22. ↑ BYD Said to Buy Wafer Assets tradingmarkets.com Wed. 8 October 2008
  23. ↑ Foshan Plastic Group starts special cell production.(NEWSDESK: Cooperation)(Foshan Jinhui High-Tech Photoelectric Material Co. Ltd.) China Chemical Reporter, 26 February 2006
  24. 1 2 3 BYD Co Ltd Company Brochure BYD Auto Official Site
  25. ↑ "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). Retrieved 29 December 2014.
  26. ↑ 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.
    • For California location, see "Chinese auto, solar firm BYD chooses LA as its US headquarters". Contra Costa Times. 30 April 2010. Archived from the original on 3 May 2010. Retrieved 1 May 2010.
  27. 1 2 Joanne Chiu and Alison Leung (29 September 2008). "Buffett's BYD endorsement sends shares soaring". Reuters. Retrieved 3 May 2009.
  28. ↑ Car Designer Sees China’s Wheels Electric-powered BYD Press Release, 12 May 2009
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