BYD Co Ltd is a Chinese manufacturer of automobiles, battery-powered bicycles, buses, forklifts, rechargeable batteries, trucks, etc 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.
BYD topped the 2010 Bloomberg Businessweek Tech 100 list, a list of large, fast-growing tech companies.
Video BYD Company
Name
The name BYD is an acronym derived from the phrase "Build Your Dreams".
Maps BYD Company
History
Founded in February 1995 and listed on the Hong Kong Stock Exchange on 31 July, 2002, BYD Co Ltd began as a rechargeable-battery factory competing in the Chinese market against Japanese imports.
Early growth
BYD grew quickly within ten years capturing more than half the world's mobile-phone battery market and becoming the largest Chinese manufacturer (and in the top four worldwide) of all types of rechargeable batteries. Replacing work done by machines with cheap, local labor lowered costs, 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. One of many Chinese automakers, in 2010 it was the sixth largest in terms of sales volume.
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. BYD already had a small Canadian office in Windsor, Ontario at the time.
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.
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.
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.
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 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.
Subsidiaries
The company has a number of subsidiaries, including BYD Auto. The following is an incomplete list.
BYD (H.K.) Co Ltd
Trading in NiCd, NiMH and Li-ion batteries and related products, it is a wholly owned subsidiary of BYD Co Ltd that in turn wholly owns Golden Link Worldwide Limited.
- Golden Link Worldwide Ltd is an investment holding company incorporated in the British Virgin Islands. A wholly owned subsidiary of BYD (H.K.) Co Ltd, itself a wholly owned subsidiary of BYD Co Ltd, as of 2007 Golden Link held nearly 70% issued share capital of BYD Electronic (International) Co Ltd.
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.
Shenzhen BYD Microelectronics Co Ltd
Established in 2002, it is responsible for the design, production and sale of ICs for use in the mobile phone industry. It is registered as a sino-foreign joint venture.
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.
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. Prior to the purchase, it manufactured handset housings for Nokia.
Foshan Jinhui Hi-tech Optoelectronic Material Co Ltd
A joint venture with Foshan Plastic Group Co Ltd and BYD (H.K) Co Ltd, it manufactures material ion exchange membranes.
Production bases and facilities
BYD has many production bases, including three locations in Shenzhen (one of which is on the self-titled 'BYD Road' (simplified Chinese: ????; traditional Chinese: ????; pinyin: B?yàdí Lù) in Pingshan New District, Longgang 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 module 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.
Legal disputes
BYD was unsuccessfully sued by Sony and Sanyo for patent infringement. Foxconn has also brought a suit against the company for the same reason.
In the media
- 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 @ HK$8/share.
See also
- BYD Auto
- BYD Electronic
- BYD Forklift
- BYD Truck
- Lithium iron phosphate battery
References
External links
- BYD Company Limited
- SEC CIK# 0001445162 - ADR listing, etc.
Source of article : Wikipedia
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