BYD Company Limited

BYD Company Limited, commonly known as BYD, is a Shenzhen-based Chinese multinational manufacturing conglomerate founded in 1995 by Wang Chuanfu. The company began as a rechargeable-battery producer and developed its early competitive advantage through a labor-intensive, cost-conscious manufacturing model that allowed it to compete with larger Japanese battery manufacturers. From that starting point, BYD expanded into mobile-phone components, electronics manufacturing, automobiles, semiconductors, solar equipment, energy storage, commercial vehicles and rail-transit systems. The company’s defining strategic characteristic is vertical integration. BYD manufactures or controls many of the major technologies used in its electric-vehicle products, including batteries, electric motors, power electronics, semiconductors and vehicle-control systems. Its principal operating businesses include BYD Auto, BYD Electronics, BYD Semiconductor, BYD Transit Solutions and the FinDreams family of automotive-component companies. This structure enables BYD to transfer technology between businesses, control supply chains and introduce products at relatively competitive prices. BYD entered the automotive industry in 2003 after acquiring Xi’an Qinchuan Automobile. Its first vehicle, the BYD F3, was a conventional gasoline-powered sedan launched in the mid-2000s, but the company increasingly focused on electrified transportation. It introduced the F3DM plug-in hybrid in 2008 and the e6 battery-electric vehicle in 2009. After a long period of relatively modest automotive growth, the company’s sales accelerated from 2020 as China’s new-energy-vehicle market expanded and BYD released new models based on its internally developed battery and hybrid technologies. The Blade Battery, introduced in 2020, became a central element of BYD’s technology and marketing strategy. Based on lithium-iron-phosphate chemistry, it was promoted as a safety-oriented battery architecture with competitive energy density, durability and packaging efficiency. BYD also developed its DM dual-mode plug-in-hybrid systems and increasingly integrated batteries into vehicle platforms. In March 2022, the company discontinued production of gasoline-only vehicles and concentrated its passenger-car portfolio on battery-electric and plug-in-hybrid models. BYD’s automotive portfolio includes mainstream BYD-branded cars, buses and trucks, as well as higher-end brands and joint ventures. Denza targets more premium passenger vehicles, Yangwang serves the luxury and high-performance segment, and Fangchengbao focuses on specialized SUVs and lifestyle vehicles. BYD also supplies electric buses, commercial vehicles, forklifts and battery systems. Through FinDreams Battery, the group is a major global producer of electric-vehicle batteries, with particular strength in lithium-iron-phosphate products. Outside automobiles, BYD Electronics provides electronics design, component manufacturing, assembly and original-equipment or original-design manufacturing services for global technology companies. BYD Semiconductor produces automotive and industrial semiconductor products, including power modules and insulated-gate bipolar transistor components. The company’s energy business covers solar panels, photovoltaic systems, stationary energy storage and related equipment. BYD Transit Solutions develops SkyRail and SkyShuttle systems intended to provide lower-emission urban transport alternatives. The company became publicly traded in Hong Kong in 2002 and later listed A shares in Shenzhen. Berkshire Hathaway’s investment in BYD in 2008 increased the company’s international visibility and reinforced its reputation as a technology-driven Chinese manufacturer. BYD has since pursued extensive overseas expansion, exporting vehicles and establishing or planning manufacturing operations in markets including Thailand, Uzbekistan, Brazil, Hungary, Turkey and Indonesia. Its international profile has also been su…

BYD’s origins lie in Shenzhen’s battery-manufacturing sector. Wang Chuanfu, a materials scientist and former researcher in China’s nonferrous-metals field, identified an opportunity in the transition from nickel-cadmium batteries toward nickel-metal-hydride and lithium-ion technologies. He assembled a small founding team in late 1994 and formally established Shenzhen BYD Battery Company Limited on February 10, 1995, with modest initial capital. The company focused first on rechargeable nickel-cadmium batteries for consumer electronics. Rather than replicate the highly automated factories used by leading Japanese competitors, BYD developed a manufacturing system that combined process engineering, in-house machinery and comparatively intensive labor. This approach reduced capital requirements and helped lower unit costs. BYD also worked on production improvements such as foamed-nickel roller welding and other battery-manufacturing techniques. The company won early orders from international electronics companies, including Sanyo, and expanded its customer base during the Asian financial crisis, when Philips, Panasonic and Motorola became important customers. BYD began internationalizing during the late 1990s. It opened BYD Europe in the Netherlands in 1998, established an American operation in 1999 and developed its first industrial park in Shenzhen in 2000. By the early 2000s, BYD had become a major producer of nickel-cadmium and other rechargeable batteries. It also entered mobile-phone components and electronics assembly, establishing the foundation for the later BYD Electronics business. The company’s move into automobiles was a decisive turning point. BYD completed an initial public offering on the Hong Kong Stock Exchange in July 2002. In January 2003, it acquired Xi’an Qinchuan Automobile from Norinco, gaining manufacturing capacity and an automotive production license. The move surprised some investors because the automotive plan had not been emphasized in the IPO prospectus, but it allowed BYD to apply its battery expertise to transportation. Its first mass-market automobile was the gasoline-powered BYD F3, which entered production in 2005 and gained attention for its low price. BYD progressively shifted from conventional automobiles toward electrified vehicles. It launched the F3DM plug-in hybrid in 2008 and the e6 battery-electric vehicle in 2009. In the same period, Berkshire Hathaway’s MidAmerican Energy Holdings invested approximately US$230 million for a minority stake in BYD, bringing international attention to the company’s technological ambitions. BYD also acquired a Chinese solar-panel manufacturer in 2009 and began developing utility-scale solar projects. The automotive business experienced a relatively slow period from 2009 through 2020, while BYD continued investing in research, batteries, electronics and manufacturing capabilities. Profit pressure intensified in the late 2010s, but management maintained high research-and-development spending. The company also expanded into rail transit, unveiling the SkyRail monorail concept in 2016. A public SkyRail line opened in Yinchuan in 2018. The next major transformation began in 2020. BYD organized several automotive-component activities under the FinDreams name and introduced the Blade Battery, a lithium-iron-phosphate battery designed to emphasize safety, durability and efficient packaging. The battery was first used in the BYD Han and later became a technology platform for additional vehicles. BYD’s DM plug-in-hybrid systems and increasingly integrated vehicle platforms helped the company benefit from China’s rapidly expanding new-energy-vehicle market. From 2020 onward, BYD’s vehicle production and sales grew rapidly. The company began a substantial overseas expansion in 2021, targeting Europe, Southeast Asia, Oceania, Latin America and other regions. In March 2022, it ended production of gasoline-only vehicles and repositioned itself as a dedicated producer of battery-electric and plug-in-hybrid vehicles. In 2023, it introduced the Yangwang and Fangchengbao brands to broaden its presence in luxury, performance and specialized-SUV categories. BYD’s wider industrial system continued to develop alongside the vehicle business. BYD Electronics expanded its role as an original-equipment and original-design manufacturer for consumer-electronics companies. BYD Semiconductor continued producing automotive and industrial power devices, while FinDreams Battery became one of the world’s largest electric-vehicle-battery suppliers. The group also maintained businesses in solar equipment, stationary energy storage, forklifts and rail transit. By the mid-2020s, BYD had become one of the most consequential electric-mobility companies globally. The group operated manufacturing and assembly activities in China and overseas, used sports and regional marketing partnerships to build brand recognition, and continued developing new battery, charging and vehicle technologies. Its growth has also brought disputes and scrutiny involving intellectual property, trade policy, price competition, labor practices and environmental effects. Despite these controversies, BYD’s combination of battery expertise, vertical integration, manufacturing scale and broad product coverage remains central to its competitive identity.

1. 2026BYD reports cumulative new-energy-vehicle sales above 16.5 million

   BYD states that cumulative new-energy-vehicle sales exceeded 16.5 million units by the end of May 2026.

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2. 2025BYD expands overseas manufacturing footprint

   BYD continues developing or operating manufacturing projects in markets including Thailand, Uzbekistan, Brazil, Hungary, Turkey and Indonesia.
3. 2024BYD becomes UEFA EURO 2024 official e-mobility partner

   The partnership gives BYD a high-visibility European platform for demonstrating new-energy vehicles and sustainability positioning.

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4. 2024BYD produces its ten-millionth new-energy vehicle

   The company marks production of its ten-millionth new-energy vehicle during its 30th-anniversary celebrations.

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5. 2023Yangwang and Fangchengbao are introduced

   BYD broadens its brand architecture with new luxury, performance and specialized-SUV marques.

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6. 2022BYD stops producing gasoline-only vehicles

   BYD ends production of pure internal-combustion passenger vehicles and focuses on battery-electric and plug-in-hybrid vehicles.

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7. 2021BYD accelerates overseas passenger-vehicle exports

   The company begins significant expansion of passenger-vehicle exports into Europe, Southeast Asia, Oceania and Latin America.

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8. 2020Blade Battery and FinDreams businesses are introduced

   BYD launches its Blade Battery and organizes major automotive-component activities under the FinDreams name.

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9. 2018First public SkyRail line opens

   A 9.7-kilometer SkyRail loop begins operation in Yinchuan, China.

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10. 2016BYD unveils the SkyRail concept

    BYD presents a monorail system intended to address urban congestion and provide an electrified transit option.

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11. 2009BYD launches the e6 and expands into solar energy

    The company introduces the e6 battery-electric vehicle and acquires a Chinese solar-panel manufacturer.

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12. 2008BYD launches the F3DM plug-in hybrid

    The F3DM becomes BYD’s first production plug-in-hybrid vehicle.

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13. 2008Berkshire Hathaway invests in BYD

    MidAmerican Energy Holdings, a Berkshire Hathaway subsidiary, acquires a minority stake in BYD, raising the company’s global profile.

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14. 2005BYD F3 enters production

    The BYD F3 becomes the company’s first major passenger car and helps establish BYD in China’s mass-market automobile sector.

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15. 2003BYD enters automobile manufacturing

    BYD acquires Xi’an Qinchuan Automobile and establishes the foundation of BYD Auto.

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16. 2002BYD lists on the Hong Kong Stock Exchange

    The company completes its Hong Kong initial public offering and begins trading as a publicly listed enterprise.

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17. 1998BYD opens its first overseas branch in Europe

    BYD Europe is established in the Netherlands as the company begins building an international commercial presence.

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18. 1995BYD is formally established as a rechargeable-battery manufacturer

    Shenzhen BYD Battery Company Limited is founded by Wang Chuanfu with an initial focus on nickel-cadmium rechargeable batteries.

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A vertically integrated clean-technology and manufacturing group centered on electric mobility, batteries and electrified energy systems, with products spanning mass-market transportation, premium vehicles, commercial vehicles, electronics and urban transit.

• BYD Passenger VehiclesAutomobiles2005

  BYD’s core passenger-vehicle range consists of battery-electric and plug-in-hybrid cars and SUVs sold under the BYD marque. The portfolio includes compact and midsize models, sedans, crossovers and larger vehicles, supported by the company’s Blade Battery, DM hybrid systems, electric powertrains and proprietary vehicle platforms. BYD has used the range to compete across mainstream price points while gradually expanding into overseas markets.

• DenzaPremium automobiles2010

  Denza is a premium new-energy-vehicle brand associated with BYD’s higher-end automotive strategy. Its products emphasize upscale interiors, advanced driver-assistance features, electrified powertrains and larger passenger vehicles. The brand broadens BYD’s customer reach beyond mass-market cars and is part of the group’s effort to compete in premium segments.

• YangwangLuxury and performance automobiles2023

  Yangwang is BYD’s luxury and high-performance vehicle brand. It is intended to showcase advanced electric technology, high-output powertrains, sophisticated chassis systems and premium design. The brand’s positioning gives BYD a platform for demonstrating technical capabilities at the upper end of the automobile market.

• FangchengbaoSpecialized SUVs2023

  Fangchengbao focuses on specialized and lifestyle-oriented sport-utility vehicles. The brand targets customers seeking rugged design, off-road capability and distinctive electrified powertrains. It complements BYD’s mainstream passenger vehicles and Yangwang’s luxury positioning by occupying a more specialized SUV niche.

• Blade BatteryElectric-vehicle batteries2020

  The Blade Battery is BYD’s lithium-iron-phosphate battery system for electric vehicles. Its long, cell-to-pack-oriented format is designed to improve packaging efficiency and structural integration while emphasizing thermal safety and durability. First deployed in the BYD Han, it became a major technology and marketing asset for BYD’s electric-vehicle business and is supplied across multiple vehicle programs.

• DM dual-mode systemsPlug-in-hybrid technology2008

  BYD’s DM family of dual-mode systems combines an internal-combustion engine with electric motors and rechargeable batteries. Different generations and variants are used in plug-in-hybrid passenger vehicles, with the technology designed to provide electric driving for routine use while retaining combustion-engine range flexibility. DM systems became a major contributor to BYD’s growth in China’s new-energy-vehicle market.

• FinDreams BatteryBatteries and energy storage2020

  FinDreams Battery is BYD’s battery-focused business, producing electric-vehicle batteries and stationary energy-storage products. It builds on BYD’s original battery-manufacturing expertise and is particularly associated with lithium-iron-phosphate chemistry and the Blade Battery. The business supports BYD’s own vehicles while also representing a technology and manufacturing platform for the broader energy sector.

• BYD Electronics manufacturing servicesConsumer-electronics manufacturing2002

  BYD Electronics provides product design, component manufacturing, testing, assembly and after-sales support for technology customers. It operates as an original-equipment and original-design manufacturer across handset components, tablets and other electronic devices. The business connects BYD’s industrial capabilities to global consumer-electronics supply chains and has served major international technology companies.

• BYD SemiconductorSemiconductors2020

  BYD Semiconductor develops and manufactures integrated circuits, insulated-gate bipolar transistor modules, power devices, light-emitting diodes and related semiconductor products. Its capabilities support electric vehicles, charging systems, industrial equipment and other power-electronics applications. The business was reorganized as a separate company in 2020 from BYD’s earlier integrated-circuit design activities.

• SkyRail and SkyShuttleUrban rail transit2016

  SkyRail and SkyShuttle are BYD’s elevated urban-transit systems. SkyRail is a monorail-style system intended for higher-capacity urban routes, while SkyShuttle is designed as a smaller automated transit solution. Both extend BYD’s clean-transportation proposition beyond road vehicles and use the company’s expertise in electrification, control systems and transport infrastructure.

• Solar panels and energy-storage systemsRenewable energy2009

  BYD produces photovoltaic modules and energy-storage systems for residential, commercial and utility-related applications. These products complement its battery business and support the company’s broader vision of generating, storing and using low-emission electricity. The solar and storage activities are smaller in public visibility than the automotive business but remain part of BYD’s diversified clean-energy portfolio.

• Electric buses, trucks and forkliftsCommercial vehicles and industrial equipment2009

  BYD supplies battery-electric buses, trucks and forklifts for public transport, logistics, ports, warehouses and industrial operations. These products apply BYD’s batteries, electric drivetrains and power-management systems to commercial use cases where operating-cost and emissions considerations are significant. The commercial portfolio has also supported BYD’s international market entry in regions seeking fleet electrification.

• 2024BYD x UEFA EURO 2024

  Europe · Global media markets

  BYD became the official partner and official e-mobility partner of UEFA EURO 2024. The campaign combined tournament sponsorship, vehicle displays, fan-zone activities, dealer events and customer promotions. BYD supplied new-energy vehicles for tournament stakeholders and used the event to connect electric mobility with sustainability, international sport and mainstream consumer visibility.

  Outcome. The partnership gave BYD a large European brand platform and was described by UEFA as its first partnership with a new-energy-vehicle manufacturer.

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• 2008Build Your Dreams brand slogan

  United States · International

  BYD began using “Build Your Dreams” as a backronymic interpretation of the BYD name during its participation in the 2008 North American International Auto Show. The phrase became an important English-language branding device as the company expanded beyond China.

  Outcome. The slogan helped give the otherwise arbitrary initials a global-facing narrative and remained associated with BYD’s international identity.

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• 2025Challenge EU countervailing duties on Chinese battery-electric vehiclesOther

  The European Union imposed definitive countervailing duties on imports of Chinese battery-electric vehicles, affecting BYD and other Chinese manufacturers.

  What changed. BYD Auto and related applicants brought an action before the Court of Justice of the European Union seeking annulment of the trade measure.

  Aftermath. The litigation became part of the broader trade and regulatory dispute surrounding the expansion of Chinese electric-vehicle manufacturers in Europe.

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• 2024Use UEFA EURO 2024 to accelerate European brand buildingStrategy

  BYD was expanding exports and dealership networks in Europe, where brand recognition and consumer trust were important barriers to growth.

  What changed. BYD entered an official partnership with UEFA EURO 2024 and promoted its electric vehicles through tournament transportation, venues, fan zones and dealer events.

  Aftermath. The partnership increased BYD’s visibility among European football audiences and linked the company’s brand with sustainable mobility.

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• 2023Launch Yangwang and Fangchengbao brandsStrategy

  BYD’s growth strategy expanded beyond mainstream vehicles and required additional brands for premium, performance and specialized-SUV segments.

  What changed. BYD introduced Yangwang for luxury and high-performance vehicles and Fangchengbao for specialized lifestyle and off-road-oriented SUVs.

  Aftermath. The new brands broadened BYD’s portfolio and gave the group higher-end platforms for technology demonstration and margin expansion.

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• 2022End gasoline-only vehicle productionStrategy

  BYD’s battery, hybrid and electric-vehicle capabilities had become central to its growth, while Chinese policy and consumer demand increasingly favored new-energy vehicles.

  What changed. BYD discontinued production of vehicles powered exclusively by internal-combustion engines and concentrated on battery-electric and plug-in-hybrid models.

  Aftermath. The decision made BYD one of the largest major automakers to commit its passenger-vehicle business exclusively to electrified drivetrains.

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• 2020Introduce the Blade BatteryProduct launch

  Lithium-iron-phosphate batteries had faced concerns about energy density even as they offered safety and cost advantages. BYD sought to improve their vehicle packaging and market appeal.

  What changed. BYD launched the Blade Battery, a lithium-iron-phosphate battery architecture using long-format cells and structural-packaging approaches.

  Aftermath. The Blade Battery became a signature BYD technology, first used in the Han and later deployed across a wider vehicle range.

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• 2020Create the FinDreams automotive-component businessesStrategy

  BYD wanted to commercialize internal component capabilities and supply other vehicle manufacturers while separating major technology activities into more specialized operating entities.

  What changed. The company spun out four automotive-component manufacturers under the FinDreams name, including battery-related activities.

  Aftermath. FinDreams became a recognizable technology and component platform within BYD’s vertically integrated automotive structure.

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• 2008Launch the F3DM plug-in hybridProduct launch

  BYD sought to apply its battery expertise to road transportation while China’s electric-vehicle market was still developing.

  What changed. The company introduced the F3DM, its first production plug-in-hybrid vehicle.

  Aftermath. The model established BYD’s early position in plug-in hybrid technology and preceded later DM systems and new-energy-vehicle expansion.

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• 2003Acquire Xi’an Qinchuan Automobile and enter vehicle manufacturingStrategy

  BYD’s original business was rechargeable batteries, but management saw automobiles as a major application for battery technology. Acquiring Qinchuan provided manufacturing assets and an automotive production license.

  What changed. BYD acquired Xi’an Qinchuan Automobile from Norinco and reorganized it as the foundation of BYD Auto.

  Aftermath. The decision created BYD’s automotive business and eventually enabled the company to become a large producer of battery-electric and plug-in-hybrid vehicles.

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• 2007Foxconn trade-secrets and unfair-competition litigationControversy

  Foxconn filed lawsuits in Hong Kong and Shenzhen alleging that BYD obtained confidential information through former Foxconn employees and used it in competition. The dispute occurred during BYD’s expansion into electronics manufacturing and preceded the listing of BYD Electronics.

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• 2002Sanyo lithium-ion battery patent litigationControversy

  Sanyo filed a patent-infringement lawsuit alleging that BYD infringed intellectual-property rights involving lithium-ion battery-cell construction and battery-pack design. The dispute was an early legal challenge to BYD’s battery technology as the company expanded into higher-value rechargeable batteries.

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• 2025BYD brings action against European Commission trade measure

  BYD Auto and related applicants filed proceedings seeking annulment of the European Commission regulation imposing definitive countervailing duties on Chinese battery-electric vehicles.

  LawsuitRegulation
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• 2024BYD becomes official partner and official e-mobility partner of UEFA EURO 2024

  BYD entered a major European sports-marketing partnership with UEFA EURO 2024, supplying new-energy vehicles for tournament stakeholders and using fan zones, dealerships and event activations to promote electric mobility and the BYD brand.

  CampaignOther
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• 2024BYD marks its 30th anniversary and production of its 10 millionth new-energy vehicle

  BYD held a Shenzhen anniversary event in November 2024 to commemorate three decades of operations and the production of its ten-millionth new-energy vehicle.

  Other
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• 2024European Union imposes definitive countervailing duties on Chinese battery-electric vehicles

  The European Union adopted definitive countervailing duties on imports of battery-electric vehicles from China, affecting BYD and other Chinese manufacturers. BYD and related parties subsequently brought an action before the Court of Justice of the European Union challenging the measure.

  RegulationLawsuit
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• 2022BYD ends production of gasoline-only vehicles

  The company stopped producing vehicles powered exclusively by internal-combustion engines and concentrated its passenger-vehicle strategy on battery-electric and plug-in-hybrid models.

  Product generation
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• 2020BYD introduces the Blade Battery and FinDreams automotive-component structure

  BYD introduced its Blade Battery and established several FinDreams companies to commercialize automotive components and supply technologies beyond the group’s own vehicle operations.

  Product launch
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1. BYD Company
2. BYD Auto
3. BYD Company Limited 2025 Annual Report
4. BYD Company Limited 2025 Annual Report listing record
5. Wang Chuanfu profile
6. Stella Li profile
7. BYD official company overview
8. BYD becomes UEFA EURO 2024 official e-mobility partner
9. BYD introduces Blade Battery and FinDreams history
10. EU legal action concerning Chinese battery-electric-vehicle duties
11. BYD stops producing gasoline-only vehicles
12. BYD produces its ten-millionth new-energy vehicle