BYD

Founded in 1995 by Wang Chuanfu in Shenzhen, BYD initially operated as a rechargeable battery manufacturer for the consumer electronics industry. The company entered the automotive sector in 2003 through the acquisition of Xi'an Qinchuan Automobile, launching its first internal combustion model, the F3, in 2005. A significant turning point occurred in 2008 when Warren Buffett's Berkshire Hathaway invested in the company, providing capital and global credibility just as BYD launched the F3DM, the world's first mass-produced plug-in hybrid vehicle. Throughout the 2010s, BYD expanded its portfolio to include electric buses, trucks, and forklifts, while developing its proprietary battery technology. In 2020, the company introduced the 'Blade Battery,' a lithium iron phosphate (LFP) technology that significantly improved safety and energy density, which became a cornerstone of its modern vehicle lineup. This innovation allowed BYD to scale rapidly and provide batteries to other global OEMs. In March 2022, BYD became the first major automaker to completely cease the production of pure internal combustion engine (ICE) vehicles to focus exclusively on NEVs. By late 2023, the company achieved a historic milestone by surpassing Tesla in quarterly battery-electric vehicle deliveries. Today, BYD is aggressively expanding its global footprint with new manufacturing hubs and a diversified brand strategy encompassing the mainstream BYD brand, the premium Denza, the off-road Fangchengbao, and the ultra-luxury Yangwang.