BYD Auto
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| Subsidiary | |
| Industry | Automotive |
| Founded | 2003 |
| Headquarters | Xi'an, Shaanxi, China |
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Key people
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Wang Chuanfu (Chairman) |
| Products |
Automobiles Buses |
| Revenue | RMB22,551 million (2012) |
| Parent | BYD Company Limited |
| Subsidiaries |
Shenzhen BYD Daimler New Technology (50%) Shenzhen BYD Auto Co. Ltd. Changsha BYD Auto Co. Ltd. Shaoguan BYD Auto Co. Ltd. BYD Auto Sales Co., Ltd. |
| Website | byd.com |
| BYD Auto | |||||||
| Simplified Chinese | 比亚迪汽车 | ||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 比亞迪汽車 | ||||||
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| Transcriptions | |
|---|---|
| Standard Mandarin | |
| Hanyu Pinyin | Bǐyàdí Qìchē |
BYD Auto Co., Ltd. is a Chinese automobile manufacturer based in Xi'an, Shaanxi Province, and a wholly owned subsidiary of BYD Company. It was founded in 2003, following BYD Company's acquisition of Tsinchuan Automobile Company in 2002. Its principal activity is the design, development, manufacture and distribution of passenger cars and buses sold under the BYD brand. It also has a 50:50 joint venture with Daimler AG, Shenzhen BYD Daimler New Technology Co., Ltd., which develops and manufactures luxury electric cars sold under the Denza brand.
BYD Auto sold a total of 506,189 passenger cars in China in 2013, making it the tenth-largest selling brand and the largest selling Chinese brand. In 2015, BYD Auto was the best selling global electric vehicle brand, ahead of General Motors and Nissan. For a second year running, BYD was the world's top selling plug-in electric car manufacturer with over 100,000 units delivered in 2016, followed by Tesla Motors. In October 2016, BYD Auto became the all-time second largest global plug-in car manufacturer after the Renault-Nissan Alliance.
BYD Co Ltd created the wholly owned subsidiary BYD Auto a year after its 2002 acquisition of the Tsinchuan Automobile Company, which may have been made solely to acquire the passenger car production license held by the purchased company. While the Chinese state is credited with development of an indigenous auto industry, BYD Auto may have been created in the absence of a State policy explicitly supporting independently owned automobile manufacturers.
In 2008, BYD Auto began selling its first mass-produced, plug-in hybrid vehicle, the BYD F3DM. China subsidizes oil (an incentive for the State to encourage use and manufacture of electric cars), and Chinese automakers see opportunities in less mature electric vehicles because Western companies have yet to develop much of a lead in the technology. In late December 2008, Warren Buffett spent $230 million on the acquisition of a 10% stake in BYD Auto's parent, BYD Company. In 2009, the company sold 448,400 cars in China, and two-thirds of sales were its BYD F3 model. In the same year, BYD began the export of its cars to Africa, South America, and the Middle East.
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Wikipedia