On November 18th, BYD hosted a ceremony to mark the rollout of its 10 millionth NEV produced and to celebrate its upcoming 30th anniversary. At the event, BYD founder and CEO Wang Chuanfu, reflected on the company’s milestones over the past three decades.
The 10 millionth vehicle produced was the newly launched Denza Z9. The owner of this milestone vehicle is Feng Ji, the founder and CEO of Game Science and the producer of the hit game “Black Myth: Wukong”. BYD, earlier this year, entered into a partnership with Game Science to become the exclusive automotive brand partner for the game.
BYD History
BYD was founded in February 1995 in Shenzhen with just 20 employees and a starting capital of 2.5 million yuan (345,000 USD). Today, the company is the world’s largest manufacturer of NEVs and employs over 900,000 people worldwide.
Initially focusing on rechargeable batteries, BYD quickly became the world’s second-largest producer of rechargeable batteries in 1998. BYD became a key battery supplier for Motorola and Nokia in 2000, driving both revenue and reputation.
In 2003, BYD entered the automotive industry by acquiring Xi’an Qinchuan Automobile, initially focusing on fuel-powered vehicles. In 2004, BYD built its first car, called the 316, but was quickly canceled due to low interest from dealers. Its first self-developed production car, the BYD F3, launched in 2005, quickly gained consumer recognition and became the first Chinese model to sell over 10,000 units monthly.
BYD debuted its first electric vehicle, the F3e, in 2008, officially entering the NEV market. Fast-forward to 2020, BYD launched its Blade Battery, achieving breakthroughs in safety, range, and charging speed. The company also unveiled its hybrid DM platform the same year, further solidifying its NEV dominance.
On November 16th 2022, almost exactly three years ago, BYD produced its 3 millionth NEV – the pure electric BYD Seal. On August 9 2023, BYD rolled out its 5 millionth NEV, setting an industry record. By September 2024, the company hit 9 million NEVs, becoming the first automaker globally to achieve this milestone. Today, BYD has reached 10 million NEVs produced in just two months.
For the celebration, BYD created a display of its brand history showing models from the very first F3 to its most recent models like the Yangwang U9.
BYD has consistently invested heavily in research and development, with groundbreaking technologies such as the Blade Battery, DM hybrid system, e-Platform 3.0 Evo, and Yunnian suspension system (also known as the DiSus System). Recent accomplishments, such as the ultra-fast and technologically advanced Yangwang U9 and Nürburgring lap results, demonstrate the results of the company’s research and competitive edge.
BYD is uniquely vertically integrated with over 70% of its vehicle components being supplied by BYD. From moldings to production lines and equipment, BYD tightly controls its supply chain to reduce manufacturing costs and provide a competitive advantage in terms of profit margins. BYD also operates its own shipping service to export its cars.
BYD has grown into a global leader in the NEV industry, with additional operations in electronics, commercial and consumer vehicles, renewable energy, and rail transit. BYD holds a dominant position in the Chinese market and have rapidly expanded its operations to multiple countries and regions worldwide.
