Английская Википедия:BYD Company

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BYD Company Limited or BYD (Шаблон:Zh) is a publicly listed Chinese multinational conglomerate manufacturing company headquartered in Shenzhen, Guangdong, China. It was founded by Wang Chuanfu in February 1995. The company has several major subsidiaries: BYD Auto that produces vehicles, BYD Electronic that produces electronic parts and assembly and FinDreams companies that produces automotive components.

BYD's largest subsidiary, BYD Auto was founded in 2003 and currently is the world's largest electric vehicle manufacturer. Since 2009, BYD's automotive business has contributed above 50 percent of its revenue, reaching 76 percent in 2022. Through other subsidiaries, BYD also produces rechargeable batteries (mobile phone batteries, electric vehicle batteries and bulk storage), forklifts, solar panels, semiconductors, and rail transit network.

Name

The "BYD" name is the pinyin initials of the company's Chinese name Biyadi, which itself was created from company's original trademark Yadi Electronics (亚迪电子, named after the Yadi Road in Dapeng New District, where the company was once based) and the character Bi was just conveniently added to give the company an alphabetical advantage in trade shows. The company later back-formed a slogan, "Build Your Dream", or more commonly "Build Your Dreams".

History

BYD was founded in February 1995 with a focus on rechargeable nickel–cadmium (NiCd) batteries. While working as a vice supervisor at the Beijing Nonferrous Research Institute, BYD's founder, Wang Chuanfu, noticed an opportunity presented by the shift in Japanese companies from NiCd to high-value nickel–metal hydride (NiMH) and lithium-ion (Li-ion) batteries. Having identified this market shift in 1993, he moved to Shenzhen with his cousin Lu Xiangyang and founded Shenzhen BYD Battery Company Limited in 1995 to capitalize on the opportunity.

Unlike the capital-intensive and highly automated processes in Japan, BYD implemented a redesigned manufacturing approach by incorporating more manual labour. This manufacturing process, along with in-house production of key machinery, contributed to a substantial reduction in unit costs compared to Japanese competitors. Despite BYD's nominal productivity being ten times less than Japanese companies, the unit cost of a Japanese battery was five or six times higher. As the result, BYD rapidly ascended to become the world's leading NiCd battery manufacturer by July 2002, accounting for 65 percent of global production. Within seven years, BYD secured its position as the second-largest producer of NiMH batteries and the third-largest in Li-ion batteries. After ten years, BYD had captured more than half the world's mobile-phone battery market and was the largest Chinese manufacturer (and in the top four globally) of all types of rechargeable batteries. BYD started producing mobile phone components in the early 2000s. BYD Electronic was spun off in 2007.

In September 2008, MidAmerican Energy Holdings, a subsidiary of Warren Buffett's Berkshire Hathaway Inc, invested about US$230 million for a 10% (or 9.89%) share of BYD at HK$8/share. BYD topped the 2010 Bloomberg Businessweek Tech 100 list, a list of large, fast-growing tech companies.

In 2016, BYD unveiled a working monorail prototype marketed as "Skyrail" (Шаблон:Zh) and announced they will enter the global rail transit market. The first public Skyrail line opened as a Шаблон:Convert long loop line in Yinchuan's flower expo in 2018.

Due to the slowdown of BYD Auto's sales, between 2017 and 2019, BYD saw its net profit has falling sharply for three consecutive years, especially in 2019 when it dropped to CN¥ 1.6 billion. Wang Chuanfu described it as the "darkest moment", since at that time the company had only one goal, which was to survive. However, Wang insisted on investing CN¥ 8.4 billion in research and development.

Automobile industry

Шаблон:Main In 2002, Wang created a new affiliate to be listed on the Hong Kong Stock Exchange. The initial public offering (IPO) published on 31 July 2002 focused solely on BYD's ambition to become the world's second-largest battery firm, with no mention of venturing into the automobile industry.

In January 2003, Wang made the unexpected decision to acquire Shaanxi Qinchuan Auto Company Limited (Qinchuan Auto), despite facing disapproval from the BYD Company's board of directors. At that time, China had 28 car manufacturers, both foreign and local, prompting the government to restrict new entries into the automobile industry unless through the acquisition of an existing player. BYD invested ¥250 million in Qinchuan Auto, aiming to enter the Chinese automobile industry and securing a license for car manufacturing. However, Qinchuan Auto's technology was outdated, and expansion capacity was limited. BYD responded by constructing a new manufacturing plant in the Xi'an Development Zone within the same province, producing conventional petrol-powered cars.

Within two years, its first car, the BYD F3 made a debut with production starting in April 2005. The company produced its first plug-in hybrid vehicle, the BYD F3 DM in 2008, followed by its first production battery electric vehicle, the BYD e6 in 2009. In March 2022, BYD ended the production of pure internal combustion engine vehicles to focus on plug-in electric vehicles.

Currently, the automotive business constitutes the majority of BYD's revenue. In 2022, BYD reported a revenue of around CN¥ 324.691 billion from automotive and related products, a year-on-year increase of 151.78 percent and accounted for 76.57 percent of BYD's total revenue. Additionally, revenue from mobile phone parts, assembly, and other product businesses reached CN¥ 98.815 billion yuan, marking a 14.3 percent year-on-year increase. In research and development, BYD invested CN¥ 18.654 billion in 2022, marking a year-on-year surge of 133.44 percent.

Corporate affairs

The company has its corporate headquarters in the Pingshan District, Shenzhen, Guangdong province of China. Its North American headquarters are in Downtown Los Angeles, and BYD has sales offices in various countries.

Subsidiaries and businesses

BYD Electronic

BYD Electronic Co., Ltd. manufactures handset components and assembles mobile phones for its customers as an OEM or ODM. Created as a subsidiary of BYD in 2002, it issued an IPO on the Hong Kong Stock Exchange in 2007 having been incorporated in Hong Kong on 14 June 2007.

BYD Semiconductor

BYD Semiconductor Co., Ltd. was established in 2020 as the successor to the BYD IC Design Department that was established in 2002. manufactures and distributes semiconductor products such as integrated circuits, insulated gate bipolar transistor modules, light emitting diodes, single chips, and other products. The company planned to issue an initial public offering (IPO) before cancelling it in November 2022 as the company chose to increase investments in wafer production.

BYD Forklift

BYD Forklift was established in 2009 and headquartered in Zhenjiang, Shaoguan. It develops and produces electric forklifts with an annual production capacity of 30,000 units. The company marketed its forklifts since 2014.

FinDreams

FinDreams (Шаблон:Zh) is the name of five automotive supplier companies owned by BYD. These companies were announced in March 2020 as spin-offs from BYD. The establishment of FinDreams companies was done to grow sales of components to other automotive companies. The companies include FinDreams Battery, FinDreams Powertrain, FinDreams Technology, FinDreams Vision (cancelled), and FinDreams Precision.

Its Chinese name, 'Fudi' comes from a poem in the Classic of Poetry, which means honesty, trustworthiness, steadfastness and diligence.

FinDreams Battery

FinDreams Battery Co., Ltd. was registered on 5 May 2019 as a successor to the BYD Lithium Battery Co. Ltd., which was established in 1998. Its products include consumer batteries, electronic batteries, electric vehicle batteries and energy storage batteries. It is the world's third largest producer of electric vehicle batteries with a global market share of 12 percent in the first half of 2022. It specializes in lithium iron phosphate (LFP) batteries, which is marketed as the Blade battery.

In early 2022, the company started construction of a joint venture plant with FAW Group called FAW-FinDreams to produce battery packs. BYD held 51 percent of the shares, while FAW held the rest. Located in Changchun, Jilin, the plant was designed with a total capacity of 45 GWh. The first battery pack rolled off the plant in July 2023, and went operational in September 2023.

In June 2023, FinDreams Battery established a joint venture with Huaihai Holding Group, which is best known for electric tricycles and electric scooters, intending to establish the world's largest supplier of sodium-ion batteries. In January 2024, construction of the sodium-ion manufacturing plant was started. The CN¥10 billion (US$1.4 billion) plant will have a 30 GWh annual production capacity.

FinDreams Powertrain

FinDreams Powertrain Co., Ltd. develops and produces engines and powertrain-related parts such as transmissions, axles, electric car platforms and plug-in hybrid systems.

FinDreams Technology

FinDreams Technology Co., Ltd. develops and produces automotive electronics and chassis-related parts that are used in passenger cars, commercial vehicles, and rail transit. It has ten major products such as vehicle thermal management, vehicle wiring harness, smart cockpit, advanced driver-assistance system (ADAS), passive safety, braking system, suspension and exhaust, body control, steering system, and body accessories.

FinDreams Precision

FinDreams Precision Co., Ltd. (previously FinDreams Molding) operates plastic moulding manufacturing and research and development.

Rail transit

Skyrail monorail

BYD constructed monorail systems around the world, including the Guang'an Metro and the Guilin Metro in China, Line 17 in São Paulo and the SkyRail Bahia, both in Brazil. BYD is also part of a consortium that was awarded a pre-development contract to build a monorail from the San Fernando Valley to LAX via the Sepulveda Pass in Los Angeles.

SkyShuttle tram

BYD also offers a rubber-tyred tram product, known as "SkyShuttle" (Шаблон:Zh). Bishan rubber-tyred tram in Chongqing is operational.

Energy storage

BYD Home Energy System, simplified as BYD HES, was an integrated product, combining solar panels, battery, inverter, etc. This system generated electricity from solar power, and then stored it. It was sold in Japan.

Manufacturing

Supply chain

BYD is characterized by its vertical supply chain system, originating as a battery company in 1995 before venturing into cars (via BYD Auto) in 2003. At the time, BYD also leverages China's low labor costs, transforming production lines for power batteries from capital-intensive to labor-intensive, ensuring a competitive edge through a robust supply chain system and reduced production costs. Post-entry into the automobile industry, BYD developed the entire automotive industry chain, emphasizing core technology research and development. Proficiency in key components, such as batteries, motors, and electronic control was achieved, marked by a large-scale, fully automated production line for batteries.

BYD diversified into research and development of semiconductor by establishing BYD Semiconductor in 2020. Core components, including automotive chips and the DiLink automotive intelligent system, were independently developed. The establishment of FinDreams companies from December 2019 focused on power batteries, automotive lighting, electronics, powertrain, and plastic moulding. BYD heavily invested in core component development, with a substantial R&D budget and personnel. Founder Securities data reveals a 7.0% year-on-year increase in BYD's R&D investment, reaching 7.99 billion yuan in 2021. The company witnessed a 12.9% rise in R&D personnel, totaling 40,382 in 2021. Notably, BYD achieved a 19.7% year-on-year growth in the number of patents, reaching 29,777 in 2020.

In early 2020, BYD transitioned its the parts and components division into subsidiary companies, collectively known as FinDreams. This shift enabled independent operations, supplying not only to BYD but also to other automotive companies. While BYD's vertical integration bolsters its industrial chain and mitigates challenges such as the global chip shortage, the model poses challenges in adapting swiftly to market changes, influencing the company's gross profit margin.

Facilities

Файл:Byd us headquarter la.JPG

BYD US headquarters in Los Angeles, California, United States

BYD has many production bases, including three locations in Shenzhen (one of which is on the self-titled 'BYD Road' (Шаблон:Zh) in Pingshan District, Shenzhen), as well as sites in Huizhou, Shanxi, and Shanghai.

Auto production bases include an automobile assembly line in Xi'an, a K9 electric bus manufacturing plant in Dalian, a photovoltaic module (solar panel) Bloomberg New Energy Finance Tier 1 manufacturing plant in Beijing, an R&D center and nascent automobile assembly line in Shenzhen, and an R&D center in Shanghai.

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

In 2019 a bus plant opened in Newmarket, Ontario to handle orders in Canada. BYD has three factories in Brazil, the first of which opened in 2015 for the production of electric buses. In April 2017, it inaugurated its second plant for photovoltaic modules. In 2020, BYD opened its third manufacturing plant in the country in Manaus, specifically for lithium iron phosphate batteries, for use in electric buses. BYD has two electric bus assembly facilities in Europe in Komarom, Hungary and Beauvais, France. BYD built a new facility in Chongqing, China for producing its blade battery, which are considered to be the safest EV batteries. The first plant of the company in India was opened in Chennai.

Recognition

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. In 2010, BusinessWeek ranked BYD the eighth most innovative company in the world and that same year saw Fast Company ranking BYD as the 16th most innovative. In 2016, BYD won the Zayed Future Energy Prize award for Large Corporations for their development of robust rechargeable batteries. In 2017, PV Magazine 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.

Lawsuits and controversies

In September 2021, BYD appointed Lu Kewen, an online influencer known for spreading antisemitic tropes, as a spokesperson for the company.

On 5 November 2021, a 36-year-old employee was found dead in a rented home. According to his relatives, his sudden death was due to high-intensity overtime work. However, no autopsy was conducted, so the cause of death remains unclear. BYD agreed to pay the deceased employee's family a lump sum of ¥200,000 RMB in compensation.

In the United States

Шаблон:Further On 27 April 2020, BYD hired attorney Charles Harder and filed a federal civil complaint in U.S. District Court, Southern District of New York, against Vice Media alleging defamation for a story about BYD using forced Uyghur labor in its supply chain which was published on 11 April 2020. BYD's case was dismissed with prejudice in March 2021.

In 2022, the United States Department of Commerce found that BYD had circumvented tariffs on solar panels by routing its operations through Southeast Asian countries.

The National Defense Authorization Act for Fiscal Year 2024 proposed the prohibition of US defense funding for BYD batteries on security grounds.

Foxconn disputes

In addition to patent litigation Foxconn sued BYD in Hong Kong and Illinois in 2007, alleging BYD poached 50 Foxconn employees and was complicit in the stealing of trade secrets to set up a competing cell phone manufacturing operation. Court proceedings were brought before BYD Electronic was spun off by BYD later in 2007, delaying the public listing on the Hong Kong stock exchange by half a year.

FoxconnШаблон:When also opened proceedings in the district where BYD is headquartered, at the Shenzhen Intermediate People's Court,Шаблон:Citation needed which referred the case to the Supreme People's Court, which in turn commissioned an appraisal by the Beijing JZSC Intellectual Property Forensic Center into files in BYD's possession which were alleged to belong to Foxconn.Шаблон:Citation needed EventuallyШаблон:When the Shenzhen court made the final judgment: BYD's files contained non-public information originating from Foxconn, which could bring economic benefits to the holders, thereby, BYD was found guilty of infringing Foxconn's trade secrets.Шаблон:Additional citation needed

Afterwards, Foxconn withdrew the civil proceedings against BYD in mainland China, and sought criminal prosecution instead.Шаблон:Citation needed On 20 March 2008, the former executive director and Vice President of BYD was arrested.Шаблон:Citation needed Then on 24 and 31 March 2008 two former employees of Foxconn were arrested and sentenced to 1 year and 4 months, and 4 years in prison respectively.Шаблон:Additional citation needed

BYD issued a counterclaim to Foxconn in Hong Kong court, alleging defamation and bribery of Chinese officials as well as intimidation on Foxconn's part.

See also

• BYD Auto
• Lithium iron phosphate battery

External links

• Шаблон:Official website