BYD Auto
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BYD Auto Co., Ltd. (“Build Your Dreams”) is the automotive subsidiary of the Chinese multinational BYD Co Ltd,[2] headquartered in Xi’an, Shaanxi Province.[3] It was founded in January 2003, following BYD Company’s acquisition of Qinchuan Automobile Company in 2002.[4] The company produces cars, buses, trucks, electric bicycles, forklifts and rechargeable batteries. The current model range of automobiles includes electric vehicles, plug-in hybrid vehicles and petrol engine vehicles.
The Denza brand, a joint venture with Daimler AG, produces luxury electric cars.
BYD Co Ltd founded the wholly owned subsidiary BYD Auto in 2003, after the acquiring the Qinchuan Machinery Works from Norinco in 2002 and raising HK$1.6 billion on the Hong Kong Stock Exchange.[5][6][7] The acquisition may have been made solely to acquire the passenger car production license held by the purchased company.[8] Qinchuan had been manufacturing cars since 1987, when the company began production of the 0.5 L (30.5 cu in) QJC7050 model.[9] At the time of the acquisition, its QCJ7181 Flyer was in production, which from 2005 was rebadged to the “BYD Flyer.”
In 2008, a plug-in hybrid version of the BYD F3 compact sedan was introduced, the world’s first production model plug-in hybrid car.[10][11] In September of that year, Warren Buffett took a HK$1.8 billion stake (US$ 230 million) in the company through Sino-American Energy Holdings.[7][12]
BYD’s total car sales in 2009 were 448,400 vehicles, and the BYD F3 was the best-selling sedan in China that year.[11][13] In the same year, BYD began the export of its cars to Africa, South America and the Middle East, where the cars competed on price, not quality.[14]
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