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BYD Company

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BYD Company Limited
比亚迪股份有限公司
Company typePublic (SEHK: 1211, SEHK: 285)
IndustryRechargable batteries and automobile manufacturing
Founded1995
Headquarters
China Shenzhen, Guangdong
,
China
Area served
China, Europe, America, and the Asia Pacific region.
Key people
Founder, Chairman & CEO Mr. Wang Chuanfu
ProductsGasoline and electric cars, battery-powered bicycles, rechargeable batteries and handset components.
Revenue602,315,354,000 renminbi (2023) Edit this on Wikidata
121,757,004,000 renminbi (2023) Edit this on Wikidata
31,344,070,000 renminbi (2023) Edit this on Wikidata
Total assets679,547,670,000 renminbi (2023) Edit this on Wikidata
Number of employees
130,000.[1]
WebsiteBYD Company Limited

BYD Company Limited (SEHK: 1211) (simplified Chinese: 比亚迪股份有限公司; traditional Chinese: 比亞迪股份有限公司; pinyin: Bǐyàdí Gǔfēn Yǒuxiàn Gōngsī) is a publicly-owned,[2] Chinese manufacturer of automobiles, rechargeable batteries and mobile-phone components[1][3] based in Shenzhen, Guangdong province. BYD is also an OEM that has manufactured handsets for Motorola[1] and Nokia.[4][5]

History

Founded in February of 1995,[3] and listed on the Hong Kong Stock Exchange on July 31st,[6] 2002,[7] BYD Co Ltd began as a rechargeable-battery factory, and competed in the Chinese market against Japanese imports.[1] The founder admits to having studied patents owned by Sanyo and Sony, two companies that later brought IP lawsuits against BYD.[1]

In 2007 an OEM mobile phone subsidiary,[8] BYD Electronic (International) Co Ltd (SEHK: 285), also made an IPO on the Hong Kong Stock Exchange.[6]

Now BYD's two core product-lines are automobiles and electronics,[6] but BYD only recently began automobile manufacture, setting up BYD Auto Co Ltd after the 2002 acquisition of Tsinchuan Automobile Co Ltd.[6]

The name BYD is an acronym derived from the company's Chinese name.[1]

Products

Gasoline vehicles, electric cars, battery-powered bicycles, auto-related moulds and components, lithium-ion and nickel-based batteries and handset components (ie plastic cases, key-pads, liquid crystal display screens, flexible printed circuit boards, integrated circuits, optoelectronics, and camera modules). Services provided include handset design & assembly.

Automobiles

Seeking to utilize its substantial battery production resources, BYD sells a plug-in hybrid, the F3DM,[9] and hopes to sell the all-electric e3 and e6 in the immediate future.[1][6] Nearly all of the components, from air-conditioners to engines, used in the manufacture of BYD automobiles are made by the company itself,[1] something that might be less of a rarity in the Chinese automobile market as it is in the international one.

As of 2009, BYD exports cars to Africa, South America and the Middle East.[1] Plans exist to enter the European and Israeli markets in 2010,[10][11] and by 2011 BYD hopes to sell in the United States, as well.[12]

Market Share

According to a Harvard Business School case study, as of 2002 BYD was the largest Chinese manufacturer (and in the top four worldwide) of all types of rechargeable batteries[1]

As of 2008 BYD was one of the top four manufacturers of cellular phone chargers.[13]

Production Bases

BYD has a total of eleven production bases,[1] including sites in Shenzhen, Beijing, Shanxi and Shanghai.[3] Auto production bases include an automobile assembly line in Xi'ian, a module manufacturing plant in Beijing, a R&D center and nascent automobile assembly line in Shenzhen and a R&D center in Shanghai.[6] There are three overseas factories, one each in India, Hungary and Romania.[1]

US operations are limited to sales and marketing, and can be found in Elk Grove Village, Illinois and San Francisco, California.[1]

Social responsibility

While being dedicated to constructing an enterprise with international competitiveness, BYD considers concern for social progress and participation in public welfare as important reflections of its social responsibility. BYD pays close attention to and supports social welfare and actively takes part in various public welfare efforts such as disaster relief, donation to education, contributions to social peace, support of culture and sports, and so on. For example, consider BYD’s support of local education, efforts to fight SARS, and donations to the Southeast Asian tsunami, South China flood, and Wenchuan earthquake relief and rescue efforts. These examples fully reflect BYD’s strong sense of love and social responsibility. BYD is very clear about the social responsibilities that companies should carry out, and this is seen in BYD’s own example—BYD has been well recognized by the social public for its efforts to better the surrounding community and nation.

Since its establishment, BYD has never let any opportunity to contribute to education pass it by. BYD has donated many times to the Center Primary School of Longgang town, Kuichong Center Primary School, Zuoquan Primary School, Shenzhen Middle School and others, significantly contributing to the improvement of local education.

In 2007, under the direction and leadership of President Wang Chuanfu, BYD decided to spend 80 million RMB to establish the BYD Children Welfare Institute, including organizing a special team in charge of the entire project. The BYD Children Welfare Institute’s aim is “all for children, for children’s all,” and always adheres to the principle “love others as you love yourself; serve the society.” The establishment of the BYD Children Welfare Institute fully represents BYD’s attitude and determination towards social public welfare, reflects its respectable enterprise civilization and spirit, and shows President Wang’s noble character and charm.

In 2008, after the destructive Sichuan Wenchuan earthquake, the company paid close attention to the disaster and people’s living condition in the disaster-hit areas. BYD’s initial step was to donate 10 million RMB and immediately dismantle 1000 hoisting jacks from new cars—which were quickly delivered by air through the army—to be used to save as many lives as possible at the rescue sites. Later, President Wang Chuanfu led the top team of the company to personally donate 3 million RMB to help rebuild schools after disaster. The company also organized donation activities many times among its staff and properly arranged the job of helping and comforting staff affected by the disaster, insisting they spend their time overcoming difficulties and reconstructing their homes. The company considerately admitted 5 students from the disaster-afflicted areas into the Shenzhen Yadi School. In addition, via contacts obtained during relief efforts, BYD also arranged for over 40 graduates to work in the company. Emerging from the big disaster, as the independent brand of China and bearing the dream of revitalizing the national industry, BYD’s selfless contribution to earthquake relief received praise and appreciation from all sectors of society.

A sense of love and charity is part of great enterprise spirit and also a noble human feeling. BYD has taken on social responsibility as an important part of enterprise spirit, insisting on contributing back to society, being dedicated to social public welfare, advocating an enterprise with a sense of love, and trying its best to contribute to China’s harmonious development.

Patent disputes

BYD was unsuccessfully sued by Sony and Sanyo for patent infringement.[1] Foxconn also alleged patent infringement, and that legal dispute partly led to BYD's shares losing 45% of their value from September 2007 to 2008.[11]

Buffett's investment in BYD

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%[14]) share of BYD, @ HK$8/share.[11]

See also

References

  1. ^ a b c d e f g h i j k l m n Marc Gunther (13 April, 2009). "Why Warren Buffett is investing in electric car company BYD". Fortune. Retrieved 2 May, 2009. {{cite web}}: Check date values in: |accessdate= and |date= (help); Italic or bold markup not allowed in: |publisher= (help)
  2. ^ Company Description of BYD Company Limited
  3. ^ a b c Company Profile BYD Official Site
  4. ^ Nokia CFO: no plans for subcontractor use in 2009 reuters.com, Thu Jul 16, 2009 10:57am EDT
  5. ^ Warren Buffett looks to electric car in BYD stake marketwatch.com Oct 9, 2008, 5:45 p.m. EST
  6. ^ a b c d e f Company Profile BYD Auto Official Site
  7. ^ to BYD Company Introduction, BYD Official Site
  8. ^ China-based handset maker BYD to venture into PC OEM business, says paper BYD Press Release, 2009-4-22
  9. ^ Technology Levels Playing Field in Race to Market Electric Car Wall Street Journal, A1, JANUARY 12, 2009
  10. ^ Israel's Clal to import China's BYD electric cars reuters.com, Thu Sep 25, 2008 4:29am EDT
  11. ^ a b c "Buffett's BYD endorsement sends shares soaring". Reuters. 29 September, 2008. Retrieved 3 May, 2009. {{cite web}}: Check date values in: |accessdate= and |date= (help); Unknown parameter |authors= ignored (help)
  12. ^ http://www.bydit.com/doce/news/2009521163533.shtml BYD Press Release, 2009-5-11
  13. ^ Cellphone industry eyes charger power savings reuters.com, Wed Nov 19, 2008 5:19am EST
  14. ^ Car Designer Sees China’s Wheels Electric-powered BYD Press Release, 2009-5-12
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