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BYD was founded by Wang Chuanfu in February 1995 as a battery manufacturing company. BYD's largest subsidiary, BYD Auto, was founded in 2003 and has grown to become the world's largest manufacturer of plug-in electric vehicles. [13] Since 2009, BYD's automotive business has contributed over 50% of its revenue.
BYD Company was founded in 1995 as a battery manufacturer. In January 2003, BYD Company founder Wang Chuanfu founded BYD Auto after acquiring and renaming a dwindling small automotive manufacturing company, Xi'an Qinchuan Automobile, from a state-owned defense company Norinco.
Founded with his cousin Lu Xiangyang when he was 29 years old, BYD Company is currently the world's largest mobile phone batteries manufacturer. [4] In early 2009, he was reportedly worth US$3.4 billion, placing him 408th on Hurun Report's Global Rich List 2014. [ 5 ]
Like its rival Tesla, BYD, which was founded in 1995 as a battery manufacturer, makes and sells a variety of products alongside its car business, from solar panels to buses.
BYD, which was founded by Wang Chuanfu, first cemented its reputation at home as a battery maker before pushing abroad. ... BYD has logged aggressive growth in the exports of its vehicles, which ...
Aided by robust sales in China, BYD is on course to top its annual sales target of 4 million vehicles, which would put it ahead of Japan's Honda and Detroit-based Ford for 2024.
In 2016, BYD Auto was the world's top selling plug-in car manufacturer with 101,183 units sold, followed by Tesla with 76,243. [143] [144] However, Tesla revenues ranked first with $6.35 billion, while BYD notched $3.88 billion. [145] Also in 2016, Tesla sold $1 billion worth of cars in China, the world's largest market for electric vehicles.
The factory was scheduled to be operational by March 2025, and was set to be BYD's first EV plant outside of Asia. The workers, hired by Jinjiang Construction Brazil, lived in four facilities in ...