A condensed history of Chinese EV company BYD
Summary
TLDRBYD, the third-largest electric vehicle company globally, is poised to disrupt the auto industry with its ambitious expansion plans. Founded in 1995 by Wang Chuanfu, the company started as a battery manufacturer and has since diversified into electric vehicles, with a market capitalization of $104 billion. Known for its Blade battery technology, BYD is set to sell vehicles in Australia, Europe, and North America, aiming to produce 3.5 million EVs by 2025. With Warren Buffett as an investor and a focus on safety and innovation, BYD is on track to become a dominant player in the global EV market.
Takeaways
- 🚗 BYD is the third-largest electric car brand globally and is expanding its reach into international markets.
- 📈 BYD's CEO, Wang Chuanfu, is considered one of the top five CEOs in the automotive industry, alongside leaders like Elon Musk and Jim Farley.
- 🌏 BYD is planning to sell cars in Australia, Europe, and North America in the coming years, marking its global expansion.
- 🔋 BYD started as a battery manufacturer in 1995, focusing on rechargeable batteries for electronics before moving into electric vehicles.
- 💡 BYD acquired struggling car makers to enter the automotive industry and scaled up production using reverse engineering from established brands like Mercedes.
- 🔥 BYD's Blade Battery technology is renowned for its safety, being highly resistant to fire and explosion under extreme conditions.
- 🚌 In addition to cars, BYD manufactures electric commercial vehicles like buses and trucks, further diversifying its product lineup.
- 💼 Warren Buffett's Berkshire Hathaway has owned an 8% stake in BYD since 2008, reflecting confidence in the company's long-term prospects.
- ⚡ BYD is rapidly transitioning to electric vehicles, with nearly all its recent sales being plug-in hybrids or battery electric vehicles, phasing out gas-powered cars.
- 🚀 BYD is poised to become a major global disruptor in the automotive industry, with plans to produce millions of EVs annually by 2025.
Q & A
What is BYD's current ranking in the global electric car market?
-BYD is currently the third largest electric vehicle company on the planet.
What does BYD stand for and who is its CEO?
-BYD stands for 'Build Your Dreams' and its CEO is Wang Chuanfu.
Who is one of BYD's largest investors and what percentage of the company does he own?
-American billionaire Warren Buffett is one of BYD's largest investors, with Berkshire Hathaway owning around 8% of BYD.
What was BYD's original business focus before entering the automotive industry?
-BYD originally focused on manufacturing rechargeable batteries for mobile phones and other electronic devices.
How did BYD enter the automotive industry?
-BYD entered the automotive industry by purchasing a struggling Chinese car maker, Qinchan Auto, which was then renamed to BYD Automobile.
What is unique about BYD's Blade Battery technology?
-BYD's Blade Battery technology is known for its safety, as it is almost impossible to set on fire, and it uses cell to pack technology to optimize energy density while also contributing to the structural integrity of the battery pack.
What is the name of BYD's vehicle that rivals the Tesla Model 3?
-The BYD Han EV sedan is the company's vehicle that rivals the Tesla Model 3.
What is the name of BYD's vehicle that is expected to become one of the best-selling electric vehicles globally?
-The BYD Dolphin (also known as the BYD EA1) is expected to become one of the best-selling electric vehicles globally.
What is the name of the BYD vehicle that the script's author has ordered?
-The script's author has ordered a BYD Yen Plus EV, which in Australia is called the AT O3.
What is BYD's market capitalization and how does it compare to established brands?
-BYD has a market capitalization of U.S. $104 billion, making it more valuable than established brands such as Mercedes-Benz, Ford, General Motors, and BMW.
What is BYD's plan for sales growth in the coming years?
-BYD plans on selling more than 1.5 million EVs in the current year, having sold over 600,000 last year, and aims to hit 3.5 million by 2025.
Outlines
🚗 Introduction to BYD and its Global Expansion
The paragraph introduces BYD as the third-largest electric car brand globally, with the speaker having recently ordered one. It discusses the company's background, its ambitious plans for global sales, and the speaker's admiration for BYD's CEO, Wang Chan Fu. BYD is also recognized as the fourth-largest battery manufacturing company. The speaker highlights the company's rapid growth in the Chinese market and its potential to disrupt the global automotive industry. Warren Buffett's investment in BYD through Berkshire Hathaway since 2008 is mentioned, emphasizing the company's credibility and growth potential.
🔋 The History and Growth of BYD
This paragraph delves into BYD's origins, starting as a battery manufacturer in Shenzhen, China, in 1995. It discusses the founder, Wang Chan Fu's, background and his strategic move into the automotive industry by acquiring a struggling car maker. The company's approach to growth through acquiring bankrupt car factories is highlighted. BYD's initial focus on making batteries for mobile phones and its transition to electric vehicles with the launch of the BYD E6 are covered. The paragraph also mentions BYD's market capitalization and its production of commercial vehicles, as well as its continued innovation in battery technology, particularly with the Blade battery, which is noted for its safety features.
🌟 BYD's Current Models and Future Ambitions
The final paragraph discusses BYD's current model lineup, including plug-in hybrids and battery electric vehicles, and its transition away from petrol-powered cars. It mentions the company's recent launches, such as the BYD Han EV sedan, which rivals the Tesla Model 3, and the BYD Dolphin, which has seen significant sales growth. The paragraph also covers BYD's plans to sell over 1.5 million EVs in the current year and aims to reach 3.5 million by 2025. The company's rapid factory construction capabilities are highlighted, along with its status as the fourth-largest automaker by market capitalization. The paragraph concludes with a call for viewer engagement and a tease for future content.
Mindmap
Keywords
💡BYD
💡Electric Vehicles (EVs)
💡Blade Battery
💡Warren Buffett
💡Wang Chuanfu
💡LFP (Lithium Iron Phosphate) Battery
💡Shenzhen
💡Reverse Engineering
💡Plug-in Hybrids
💡Global Expansion
Highlights
BYD is the third largest electric car brand globally.
BYD's CEO, Wang Chan Fu, is considered one of the top five CEOs in the industry.
BYD is the fourth largest battery manufacturing company.
BYD's rapid growth in the Chinese car market and its global expansion plans.
Warren Buffet's Berkshire Hathaway is a major investor in BYD, holding a significant stake since 2008.
BYD was founded in 1995 by Wang Chan Fu, starting as a rechargeable battery maker.
BYD's entry into the automotive industry by acquiring Quinchan Auto.
BYD's strategy of reverse engineering to build vehicles and improve upon foreign designs.
BYD's transition from petrol vehicles to almost entirely electric, with a focus on EVs and PHEVs.
BYD's market capitalization of over $104 billion, surpassing established brands like Mercedes-Benz and BMW.
BYD's blade battery technology, known for its safety and structural integrity.
BYD's plans to sell vehicles in Australia, Europe, and North America within the next few years.
BYD's production of a range of commercial vehicles, including EV buses, forklifts, and trucks.
BYD's goal to sell over 1.5 million EVs in the current year, with ambitious targets for 2025.
BYD's rapid factory construction, including six new factories built in China in the last year.
BYD's potential to disrupt the legacy auto industry with its aggressive EV production and sales strategies.
BYD's current vehicle lineup, including the BYD Han EV sedan and the BYD Dolphin, which are key models for the brand.
Transcripts
byd is one of the largest in fact it's
the third largest electric car brand on
the face of the planet i just ordered
one here and very soon you'll be able to
order one as well
so who are byd
what are they about
and where do they come from and why do i
personally think
that byd's ceo wang chan fu
is one of the big three
is one of the big five ceos
jim farley elon musk
herbert diese
wang chun fu
and my mystery one is coming soon hello
my friends and welcome to the electric
viking here is the history or a short
condensed history of byd i personally
just bought a byd yen plus it's been
changed the name has been changed to the
at o3 here in australia and probably
will be the same for most markets where
they're sold outside of china so you
might be able to order a byd very soon
right now they are the third largest
electric vehicle company on the planet
and they are the fourth largest battery
manufacturing company so who exactly are
byd and what are their plans for the
future chinese car makers are well known
for being ambitious and often
domestically
delivering on those ambitions especially
in 2021 when chinese electric car
manufacturers started to eat huge shares
of legacy auto vehicle sales in china
one of the companies that has found
traction both at home and abroad is byd
they are absolutely smashing the chinese
car market and they are about to
decimate car sales
globally they will disrupt legacy auto
in a way that people just cannot
possibly comprehend right now but it's
about to happen
standing for build your dreams byd
counts american billionaire warren
buffett as one of its largest investors
berkshire hathaway owned around eight
percent of byd and they've owned it
since 2008 not changing their position
at all over the last 14 years now byd
have just released their plans to sell
vehicles
they plan on sailing vehicles in
australia in europe and in north america
within the next couple of years so how
did bysd actually start well car expert
reports that
shenzhen a chinese city near hong kong
is well known for its electronics
manufacturing and it was here in 1995
the byd was first founded by
entrepreneur wang chun fu now wang
actually was orphaned at a young age and
he was brought up by his brother and
sister which is quite an incredible
story in and of itself i'll put a link
in the description below to the video i
made about his life history while he had
a background in material science and
chemistry and related experience in
academia with the chinese government
trialling capitalism in shenzhen at the
time cheng fu made the bold step to
compete with the flux of japanese
companies
exporting rechargeable batteries at the
time by starting his own battery firm
it's quite interesting isn't it this is
kind of the beginning of china basically
taking most of the rechargeable battery
market away from japan nobody's even
mentioned this fact that this is
actually what's happened over the last
two decades
thus byd was founded as a maker of
rechargeable batteries and it grew
rapidly becoming a major supplier of
batteries to various different mobile
phone manufacturers in fact that's still
where the majority of the company's
profit comes from
assembling mobile phone handsets and
providing the batteries that go into
them as well subsequently changfu
wished to enter into a new market for
his batteries and sensing the
possibility of vehicles eventually being
powered with electricity he decided to
make a risky move he bought a struggling
chinese car maker quinchan auto renamed
to byd automobile as a way to enter the
automotive industry and learn how to
scale up the mass production of cars
now interestingly he's since bought a
number of different car factories from
companies that have gone bankrupt in
china he basically takes up the factory
body takes over and
what this means is they don't have to
build a new factory and actually buy
them much cheaper than what it would
cost to build
chinese companies are often known to be
fast followers byd was no exception by
reverse engineering and then building
the tooling and molds required to make a
particular part in-house
the firm was able to draw on the
expertise of foreign car makers
initially to build derivative models
before incrementally making their own
improvements i remember one story that i
read
a couple of years ago wang actually got
his team to go and buy a brand new
mercedes s-class this was at a time in
byd was still in its infancy back in
2001 i believe it was they brought the
s-class in and then wang said to them
okay take it apart
re-engineer it rebuild it see how they
do it let's let's figure out how we can
re-engineer this this car and he's the
engineers who had just bought the car
from said this is a brand new mercedes s
class we can't do that boss
so juan walked over
to the car
pulled out his keys
and scratched the entire car with his
keys
and he said it's not new anymore
do it
so they did
and they've done that numerous times
since
using parts and knowledge from japanese
car makers such as mitsubishi and toyota
to mass-produce combustion engine models
byd
pivoted to evs with the launch of the
byd e6 electric people mover all the way
back in 2010 now i actually test drove
one of those cars late last year when
they were it was delivered to
a custom well one of the first customers
here in australia and i've got to say
the e-waste the e6
battery powered e6
for the price is one of the most if not
the most impressive car
i've ever seen today byd has a market
capitalization of u.s 104 billion
dollars making it more valuable than
established brands such as mercedes-benz
ford general motors and bmw but this is
just the start in addition to cars the
company also produces a range of
commercial vehicles such as ev buses
forklifts and trucks
however
byd's original business of manufacturing
batteries for mobile phones has been
spun off into a separate company
byd electronics which now also
manufactures various medical devices and
computer components
but this firm maintains a close
relationship with byd automobile and the
two entities continue to share a logo
and branding in addition byd became the
fourth largest battery manufacturer in
the world last year
and the second largest producer of
lithium-ion phosphate batteries or lfp
batteries they're now famous for the
blade battery which utilizes this
technology one of the great things about
blade batteries well they don't set on
fire it's almost impossible to get them
to set on fire big advantage
byd has further increased its prominence
recently by attracting high profile
investors most famously warren buffett
who bought a 10 stake in the company in
late 2008 for 232 million us dollars
that was one of his best investments
everest returned him more than 500 since
byd's current model portfolio consists
of both
dual mode plug-in hybrids
and battery electric vehicles they've
pivoted away from petrol
vehicles or gas vehicles entirely last
year only
five percent of the vehicles that they
sold were gas powered this year it's
dropped down to two percent the year
before that it was closer to 40. so in a
very short space of time byd has
transitioned from petrol powered
vehicles to almost entirely electric now
the company has largely limited sales of
its plug-in hybrid range to the chinese
domestic market whilst its battery
electric vehicles are sold at home and
overseas one of the firm's most recent
launches is the tesla model 3 rivaling
byd-han ev sedan this vehicle offers 362
kilowatt of power in its range-topping
supreme trim it also has a claim range
of 605 kilometers on the nad cycle and
the new version
actually now has a claim range of more
than 700 kilometers
all han ev sedans make use of a 80
kilowatt hour lfp lithium-ion phosphate
battery
this uses byd's innovative blade battery
one of the big advantages of the blade
battery is it utilizes
cell to pack technology to optimize
energy density
whilst also elongating the cells into
beams that then become essential to the
structural integrity of the pack
reducing weight and production costs byd
also claims that its blade battery is
safer than the battery pack designs used
in other evs with regard to thermal
stability and fire risk the company has
creatively demonstrated this by piercing
the battery pack with a nail
and then placing a raw egg on top of the
piercing the company claims that the
lack of fire or smoke and the fact that
the egg remains uncooked helps evidence
the crashworthiness of the battery byd
claims its battery design has also been
put through other tests such as being
crushed
overcharged and placed in a furnace
without exploding or catching fire and
run over by a truck by the way as well
other evs currently being produced by
byd include the older chin pro sedan
based on an adapted internal combustion
engine chassis as well as the song pro
and the tang electric suvs the tang suv
is actually sold in norway and comes
with seven seats and the blade battery
as well potentially the company's most
important car is the one i just ordered
that's the yen plus ev or the 803 here
in australia
sized in line with suvs such as the audi
q3 and the bmw x3 this model will go on
sale in australia here in only a few
months time now the addo 3 or the yen
plus
will make use of the byd blade battery
and com at a starting price of 44 000
australian dollars or around about 32
000 us dollars it will offer 320
kilometers of range in its base
variation and 420 kilometers in the long
range variant using a 60 kilowatt hour
lfp blade battery pack however probably
the most important car for byd period
globally
is the byd ea1 called the byd dolphin
byd began selling that vehicle in
october of 2021 and sales have climbed
enormously since it's become its second
best-selling ev after ramping up
production
and it will eventually become one of the
best-selling electric vehicles be one of
the best-selling cars period in the
world within the next couple of years at
least that's what byd plans
previously byd claimed to be selling the
t3 and the e6 vehicles here in australia
in fact they only sold a few of them
because they only had a limited number
of right-hand drive vehicles and to be
honest the reality is right now byd is
struggling to meet the incredible demand
they have for their vehicles in china
now byd plans on selling more than 1.5
million evs this year it sold over 600
000 last year and it plans on hitting
3.5 million in 2025.
currently listed on the hong kong stock
exchange byd is the fourth largest
automaker in the world by market
capitalization producing more than 1.5
million vehicles
over the last three years with a record
604 000 units sold in 2021 with the
majority of those of course being evs or
plug-in hybrids now one of the crazy
scary things about byd is the fact that
they are able to
build factories so so quickly last year
they actually built six factories in
china most of those being battery
factories and they increased their
battery production by more than 200
percent in 12 months that's incredible
currently there's very few western media
outlets talking about byd
period
imagine if this company was located in
the united states
everyone would have heard of them
but it probably won't be long before
that happens anyway considering the
current meteoric rise they are on
let me know in the comment section below
what you think of byd will you consider
buying one what do you think of the
brand what do you think of chinese evs
in general thanks for watching and i'll
see you again on the next one bye-bye
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