Index
Building a third plant in Shenzhen city to expand lithium-ion battery production capacity
Annual capacity to increase from 800,000 vehicles to 1,500,000 in 2013 and 2,300,000 in the...
Starting sales of F3DM, a PHEV, to private consumers in 2010 and introducing EV e6 as well
Executive Summary
BYD (BYD Company Limited) of China, a relatively young company founded in 1995, is said to enjoy high shares in the world markets of secondary batteries, with approximately 60% share in Ni-H/Ni-Cd batteries and approximately 30% share in lithium-ion batteries (as of 2009 spring).
The company began automotive business in 2003 and established BYD Auto (BYD Auto Company Limited). The new company sold 448,397 vehicles in 2009 (compared to 170,882 in 2008), reflecting a rapid growth of BYD's automotive business in line with its secondary battery business. The sales goal for 2010 is set at 831,300 vehicles.
BYD Auto's annual capacity has already topped 800,000 vehicles and the company plans further increase to 1.5 million in 2013 and eventually to 2.3 million vehicles thereafter (sales goal has been set at 1.45 million in 2015 and 8 to 9 million in 2025). The company is working under plans toward KD (knock-down) assembly outside China as well and is eyeing early start of overseas KD operation in the US.
BYD Auto's vigorous growth plan is supported, in terms of product availability, by BYD's lithium-ion technology, characterized, among others, by the use of lithium iron phosphate in the cathode. In December 2008, BYD Auto began limited sales of F3DM, a plug-in hybrid (PHEV) taking electric power from BYD's lithium-ion batteries and the company plans to make the PHEV available to private consumers in 2010.
BYD Auto plans to start sales of e6, an EV, in the latter half of 2010 including a market launch in the US. This will be followed by additional launch of PHEVs such as F6-based F6DM and F0-based F0DM in and after 2011.
In terms of product development, BYD plans a new partnership with Daimler. In March 2010, BYD and Daimler concluded a memorandum of agreement (MoU) regarding a comprehensive technology partnership aimed at the development of EV for Chinese market. The MoU was announced at the Geneva motor show.
BYD Company Limited
| Corporate name |
BYD Company Limited |
| History |
BYD was established by Wang Chuanfu in February 1995 (capitalized at 2.5 million Yuan; and company name changed later to Shenzhen BYD Industry Co., Ltd.) and began production of Ni-Cd batteries primarily for cell phone use (150 million batteries in 1999, 400 million in 2003 to become the largest supplier in the world). The company began production of lithium-ion batteries as well in 1997. The company name was changed to the present name in July 2002 and the company was listed in Hong Kong Exchanges and Clearing Limited. The company has over 130,000 employees as of August 2009 (compared to approx. 20 when the company was first founded). |
| Principle of management |
Build Your Dream (= BYD) |
| Policy |
Autonomous development, autonomous production, autonomous brands |
Description
& Strategy
of Business |
Automotive
business |
In January 2003, BYD acquired 77% in stock of Xi'an Qinchuan Automobile Co., Ltd., a former passenger car company jointly established with Suzuki, at the price of HK$254 million, which was later reorganized as a subsidiary under the new corporate name of BYD Auto (BYD Auto Company Limited) to officially enter the passenger car business. The company began building Xi'an plant (BYD Industrial Park) in June 2003, and Shenzhen plant (Baolong Industrial Park) in March 2004. |
| In September 2005, BYD Auto's first passenger car, F3, hit the market (line-off in April), followed in 2008 by F6 (March), F0 (September) and F3DM (December). |
| In July 2009, the company acquired Hunan Midea Bus Co., Ltd., a bus manufacturer in Changsha, Hunan province, and turned it into a wholly-owned subsidiary having a new official name of BYD Bus (BYD Bus Company Limited) to officially enter the bus business. |
| The company is said to have started R&D of automotive secondary batteries and EV when the company entered the automotive business in 2003, with the belief that the EV will form the core of the next-generation automobiles. In June 2006, BYD announced the successful development of F3e, a plug-in EV powered by lithium iron phosphate batteries. |
| The company's medium to long-ranged business plans include sales goals of 800,000 vehicles in 2010, 1.45 million in 2015, and 8 to 9 million in 2025 (some predict a long-range plan of over 10 million vehicles). |
Secondary
battery
business |
Development, production and sales of secondary batteries (Li-ion, Ni-Cd, Ni-H, etc) for automotive, cell phone and emergency power use and their components. |
| With the notion that the international markets for BYD's secondary batteries, such as the cell phone markets in the world, the power tool and real estate markets in Europe and the US, etc, are likely to remain sluggish, BYD is to overcome the situation and expand its markets by improving its product quality and making new combinations of its batteries with EV, HEV and other products. |
Cell phone
and other
IT business |
Development, production and sales of cell phones and their components, opto-electronics, microelectronics, NPS FPC connectors, and ODM. |
New energy
business |
Development, production and sales of solar cells, etc. Will start next-generation strategic projects eyeing commercial application of results in such areas as solar cells for EV and EV charging stations, etc, solar power generation plant, wind power plant, energy storage and supply station, etc. |
| (Notes) 1. |
In July 2009, MidAmerican Energy Holdings, a subsidiary of the company led by Warren Edward Buffett, an American investor, invested approx. US$230 million in BYD to acquire 9.89% equity (or 28.37% of BYD's publicly-held stock). |
| 2. |
BYD Auto established new subsidiaries in Japan in 2005, in Denmark and Hungary in 2006, in Portugal, Angora, India and Romania in 2007, and in Finland in 2008. |
BYD's business performance
|
(in 1,000 RMB) |
| |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
| Sales |
6,425,753 |
6,498,330 |
12,938,917 |
21,211,213 |
26,788,253 |
39,469,454 |
| Gross profit |
1,704,890 |
1,454,545 |
2,738,183 |
4,247,687 |
5,218,836 |
8,564,731 |
| Net profit |
994,190 |
503,013 |
1,117,334 |
1,611,711 |
1,021,249 |
3,793,576 |
|
Earnings per share
(in RMB)
|
n.a. |
n.a. |
0.55 |
0.79 |
0.5 |
1.77 |
| Gross profit ratio |
26.5% |
22.4% |
21.2% |
20.0% |
19.5% |
21.7% |
| Net profit ratio |
15.5% |
7.7% |
8.6% |
7.6% |
3.8% |
9.6% |
Sales composition by business operation
| |
Sales
(in billions of RMB) |
Component Percentage |
| 2008 |
2009 |
2007 |
2008 |
2009 |
| Automotive (finished cars and parts) |
8.646 |
20.991 |
23% |
32% |
53% |
| Secondary battery |
6.208 |
4.082 |
34% |
23% |
10% |
| Cell phones (including components) |
11.933 |
14.397 |
43% |
45% |
37% |
| Others |
0.00179 |
0.00027 |
0% |
0% |
0% |
| Sales total |
26.788 |
39.470 |
100% |
100% |
100% |
Sales composition by region
| |
China |
India |
Hungary |
Brazil |
Others |
Total |
| 2008 |
73.3% |
7.8% |
3.2% |
2.1% |
13.6% |
100% |
| 2009 |
81.4% |
4.5% |
1.9% |
0.5% |
11.8% |
100% |
Sources: BYD Annual Reports
(Note) BYD Bus is not included in the reports.
Passenger car export from China: Shifting to EV and PHEV export with export plans to Europe and the US
| BYD Auto's passenger car export was 6,635 in 2007, 7,059 in 2008 and 1,313 in 2009 with 40,000 to 80,000 predicted for 2010. Most of the exports are the F3 but the company plans to shift to EV and PHEV export with plans to export to new destinations such as Australia, Thailand and Israel. The company also has plans to export e6 (EV) and F6DM (PHEV) to the US in 2010 and is currently developing the European versions of the e6 and F6DM. |
| (Note) |
Import of F3 and F6 started in Qatar and Kuwait in 2009.
Full-scale export of BYD's passenger cars began in 2006 (to Ukraine). |
Building a third plant in Shenzhen city to expand lithium-ion battery production capacity
In August 2009, BYD began operation at Huizhou plant, Guangdong province, a second plant to produce lithium-ion batteries. Then, in December 2009, the company announced the plan to build a third plant saying that it had already reached an agreement with the local government regarding the development of necessary infrastructures. The new plant, when completed, is said to be a large-scale facility with the annual yield of over 6 billion Yuan.
The company also plans to build a new plant for making separators as part of efforts to beef up R&D and production capabilities of electric drive devices for EV and HEV use.
BYD announced at the Guangzhou Motor Show held in November 2009 that the company would make a fresh entry into the solar power generation (solar cells), electric power storage systems, and other markets. As for the electric power storage systems, the company is said to have started a system viability experiment to store electricity generated from solar and wind power generation into BYD's lithium-ion batteries to supply electricity at home or on EVs.
BYD's lithium-ion iron phosphate battery and PHEV system
| |
Summary |
Li-ion battery
with lithium iron
phosphate cathodes |
BYD's core technological product, dubbed "BYD ET-POWER" by the company, is characterized by the use of cathode made from lithium iron phosphate (LiFePO4) (see note 2) with 3.3V cell voltage and 60Ah capacity. The battery withstands more than 2,000 charge and discharge cycles and lasts over driving distance of 600,000km when used on a car. The product cost (according to BYD) is one tenth that of ordinary lithium-ion batteries of the same type. |
| BYD's Li-ion iron phosphate batteries are produced in large volume at its Shenzhen plant and also at the Huizhou plant that began operation in August 2009. The company also plans to build a third plant in Shenzhen (production capacity is not disclosed). BYD claims that it has also developed the battery components and their production facilities and has 22 relevant patents. |
DM system
(PHEV system) |
BYD suffixes DM to the basic model names of its PHEV models as in F3DM and F6DM. "DM" stands for "dual mode" and a PHEV system that has both EV and HEV modes. |
| According to BYD, all of its DM systems and their components as well as production facilities have been developed and produced on its own initiative (with over 700 domestic and overseas patents pending). The current system cost of approx. 50,000 Yuan can be reduced to less than 30,000 Yuan when the annual production exceeds 200,000. |
| (Notes) 1. |
BYD is said to already have core technology for making fuel cells. |
| 2-1. |
BYD is said to have launched a project in August 2002, before the company entered the automotive business, aimed at the development of lithium-ion iron phosphate batteries. LiFePO4 is characterized by cheap raw materials, little restriction of resources, high energy density, rugged crystalline structure and high thermal stability under high temperature, all contributing to ideal properties of materials for making Li-ion battery cathodes. One drawback is the low electron conductivity (only a small amount of energy can be drawn) and this is the reason why its commercial use has staggered in Japan. |
| 2-2. |
New technologies have been developed to increase the battery power output such as using highly electron conductive carbon to support LiFePO4 or using electrodes having a nano-structure. In Japan, Sony began volume shipment of Li-ion iron phosphate batteries in June 2009 (many manufacturers are entering the market for lithium iron phosphate cathodes as well). |
| 3. |
See MarkLines Report No.808 http://www.marklines.com/en/report/rep808_200909 for more information on the characteristics of lithium-ion iron phosphate batteries and trends of development among Japanese manufacturers. |
A third plant planned in Shenzhen for making Li-ion batteries
| BYD plans to build a large plant in Baolong Industrial Zone, Longgang District, Shenzhen city, which will be its third Li-ion iron phosphate battery plant after the Shenzhen plant and the Huizhou plant, Guangdong province that began operation in August 2009. In December 2009, the company announced that it had reached an agreement with the local government regarding the cooperation in the provision of necessary infrastructures. While the details of the new plant have not been disclosed, it will produce large cells for electric power generation facilities and have an annual yield of over 6 billion Yuan. |
| (Note) |
BYD has not disclosed production capacity of Li-ion batteries but nonetheless plans to have a sufficient annual capacity for 200,000 vehicles by July 2013. |
■An affiliated company to build a new separator plant in Foshan city, Guangdong prov.
| BYD's affiliated company, Foshan Jinhui High-Tech (45% owned by BYD's Hong Kong-based subsidiary) will build a new separator plant in Foshan city, Guangdong prov. to increase the annual production of separators to 45 million square meters in line with BYD's plan to increase Li-ion battery production. In October 2009, BYD's Hong Kong-based subsidiary invested US$ 2,362 thousand to raise necessary capital to build the new plant (total capital increase of US$ 7,129.6 thousand; 39.375% of which by the BYD's Hong Kong-based subsidiary). |
Purchasing a semiconductor wafer plant to reinforce development and production strength of electric drive devices for EV and HEV use
| In October 2008, BYD acquired Sino MOS Semiconductor (Ningbo) Inc., a semiconductor manufacturer located in Ningbo city, Zhejiang province, to increase its R&D and production strength for electric drive devices that will go into BYD Auto's EV and HEV (approx. 200 million Yuan invested for the acquisition purpose alone). In December 2008, BYD turned the acquired company into a wholly-owned subsidiary under the new corporate name of Ningbo Semiconductor Co., Ltd. and started production and sales of 6-inch wafers for semiconductor use. |
Entering solar power generation, power storage systems and other new energy markets with plans to build a large-scale solar cell plant
| BYD announced at the Guangzhou Motor Show held in November 2009 that it would make a fresh entry in solar power generation (solar cells), electric storage systems, and other markets. With regard to the electric storage systems, it is said that the company had already started a viability test of a household electric storage system at the Pingshan plant of Shenzhen in which the electric power from solar and wind power plants is stored in a BYD-made 1,000kW class Li-ion battery for use as power supply at home and for EV. |
| With regard to solar cells, BYD plans to invest 22.5 billion Yuan total (approx. 296 billion Yen) to build a new large-scale plant by 2015 with annual capacity of 5GW (5,000MW = 5 million kW) in Shaanxi province, home to BYD's Xi'an plant of finished vehicles. Phase 1 work has already started toward annual capacity of 100MW (at the cost of 500 million Yuan). Judging from its location, the new plant will most likely produce silicon semiconductor crystal type of solar cells. |
| (Notes) 1. |
BYD sees new energies as one of its business pillars, and the plan to build a large-scale plant for making solar cells was disclosed in an official document published in January 2010 by Shaanxi provincial Development and Reform Commission. Demand for solar power generation is growing in Europe and the US and BYD has its sights set on exporting both its solar cells and storage systems to Europe and the US in the future as the demand for the latter is also expected to grow in those markets. |
| 2. |
Incidentally, the annual capacity of Sharp, the largest solar cell producer in Japan, was 710MW in 2009. It increased to 1,190MW when Sharp's new plant began operation in March 2010 (costing 72 billion Yen), and it will expand to 1,206MW when the joint-venture plant in Italy starts operation in 2011 (550MW from silicon crystal type solar cell that is the standard type for homes and 656MW from thin-film compound semiconductor type of solar cell whose demand is growing for solar power stations). |
BYD Auto's R&D strength
| BYD Auto has R&D facilities in Shanghai and Shenzhen city, Guangdong province and an automobile testing facility in Shaoguan, Guangdong prov. are slated for operation starting in 2012. BYD Institute of Automotive Engineering in Shanghai has around 3,000 employees to design and engineer automobiles, develop prototypes, test collision safety and other performances, establish automotive parts standards and certify parts accordingly. |
| BYD has an R&D center along with a test circuit attached to the finished car plant in Shenzhen. The center is the base of the company's engine development activities. It is said the variable intake manifold type BIVT engine series (1.0T, 1.3T, 1.5T, 1.8T, 2.0T) were developed there in 2006. |
| The automobile testing facility in Shaoguan city, Guangdong province has a ground area of 25,000 square meters and is slated for completion before the end of 2012. Its functional details are yet unknown but the total cost is said to be 700 million Yuan (ground area of 33,000 square meters and 1.5 billion Yuan in total including the auto body parts plant). |
Annual capacity to increase from 800,000 vehicles to 1,500,000 in 2013 and 2,300,000 in the future
BYD Auto is said to have increased its annual capacity at its Xi'an plant and Shenzhen plant from 300,000 to 400,000 vehicles each in early 2010 and thus has a total capacity of 800,000 vehicles today.
In July 2009, BYD Auto purchased Hunan Midea Bus Co., Ltd., a bus manufacturer that had been closed, and reorganized it under the name of BYD Bus (BYD Bus Co., Ltd.). In addition, BYD Auto is renovating Changsha plant in Hunan province into a plant with an annual capacity of 300,000 (passenger cars and commercial vehicles combined). The plant is expected to start operation sometime in 2010 (with the plan to increase the capacity to 800,000).
In December 2009, work began to build the second plant of Xi'an for production to start in 2011. The new plant will have annual capacity of 400,000 vehicles by 2013. In addition, the company is studying the feasibility of building a new plant, having annual capacity of 300,000, in Huizhou city, Guangdong province, home to the company's new automotive battery plant.
These new plants in Changsha, Xi'an and Huizhou city, when completed as planned, will boost BYD Auto's total capacity to 1.5 million vehicles in 2013 with the potential increase to 2.3 million in the future (including that of BYD Bus). Incidentally, BYD Auto's medium to long-range business plan calls for selling 800,000 vehicles in 2010, 1,450,000 in 2015, and 8 to 9 million vehicles in 2025 (some press reports a long-range sales goal of over 10 million vehicles).
BYD: Production, sales and annual capacity of plants in China
|
The figure to the left of the arrow represents annual capacity prevailing in January 2010;
the figure to the right of the arrow is planned or envisioned. |
| |
Production
models |
Sales Volume of
new cars (unit) |
Production
Volume (unit) |
Annual
Production
Capacity
(in 1,000 units) |
| 2008 |
2009 |
2010
(Planning) |
2008 |
2009 |
Xi'an plant,
Shaanxi prov. |
Flyer |
173 |
|
100 |
|
300 →400 |
| F3 |
131,146 |
250,161 |
270,000 |
149,217 |
230,384 |
| F3-R |
5,636 |
40,802 |
5,766 |
41,119 |
| F3DM (PHEV) |
48 |
10,000 |
62 |
| S8 |
|
96 |
|
158 |
| G3 |
1,919 |
100,000 |
|
1,982 |
The second plant
of Xi'an,
Shaanxi prov. |
Operation to start in the first half of
2011 to produce F3, L3, G3, F5, etc. |
0 →400 |
Huizhou plant,
Guangdong prov. |
Being planned. This plant is expected to be devoted for EV and HEV exclusively since BYD's lithium-ion battery plant for automotive use began operation in August 2009 in Huizhou city. |
0 →300 |
Shenzhen
(Pingshan) plant,
Guangdong prov. |
F6 |
10,250 |
52,440 |
100,000 |
11,928 |
52,016 |
300 →400 |
| F0 |
23,677 |
102,931 |
150,000 |
25,960 |
102,011 |
| BYD Auto Total (Passenger Vehicles) |
170,882 |
448,397 |
800,000 |
192,971 |
427,732 |
600 →1,500 |
Changsha plant,
Hunan prov. |
Large-duty bus |
81 |
|
1,300 |
98 |
|
0 →15 |
| Medium-duty bus |
193 |
204 |
| Light-duty bus |
240 |
292 |
| Mini van, 2/3box car |
|
30,000 |
|
0 →800 |
| BYD Bus Total (Commercial Vehicles) |
514 |
0 |
31,300 |
594 |
0 |
0→815 |
| BYD Grand Total |
171,396 |
448,397 |
831,300 |
193,565 |
427,732 |
600 →2,315 |
| (Notes) 1. |
The Xi'an plant, located in Xi'an High-Tech Development Zone and operating since April 2005 has the ground area of 1 million square meters. The second plant of Xi'an has the ground area of 3 million square meters. The Shenzhen (Pingshan) plant, where medium to high-class passenger cars are produced, has the ground area of over 1.8 million square meters (including the development center, parts plant, head office building, etc). |
| 2. |
Of the 800,000 vehicles targeted by BYD Auto for sales in 2010, 170,000 are the new models launched in 2010 (L3, I3, I6, G6, M6, S6, etc) and 40,000 to 80,000 are for exports. |
| 3. |
The company produced 9 units of PHEV F3DM and sold 8 units in January 2010. |
| 4. |
BYD is said to be aspiring to become the largest automaker in China by 2015 in terms of production and sales by the model, and in the world by 2025, as expressed by Wang Chuanfu, BYD's chairman, during the ceremony celebrating the start of operation of the Shenzhen (Pingshan) plant in August 2007. For information, BYD Auto's monthly record by the model was 30,008 F3 in October 2009. |
Second plant being constructed in Xi'an to double the annual capacity of passenger cars to 800,000
| In December 2009, work started to build the second passenger car plant, with the annual capacity of 400,000, within the premises of BYD Auto's existing Xi'an plant in Shaanxi province. The new plant (including the engine plant) costs 5 billion Yuan and the company plans to start production of F3 (including F3DM), L3, G3, F5 and other new passenger models in the first half of 2011 with plans to increase annual capacity to 400,000 passenger cars and 400,000 engines (including components) in 2013. As a result, the Xi'an plants' annual capacity of passenger cars will increase to 800,000 including that of the existing plant. |
BYD Bus: Annual production of 300,000 units of passenger cars and buses planned in Changsha city, Hunan prov.
| In July 2009, BYD Auto purchased 100% of Hunan Midea Bus Co., Ltd. (Changsha city, Hunan province), a bus manufacturer that had been idle since the end of 2008, from Foshan Weishang Science & Technology Industrial Development Group for 60 million Yuan. BYD Auto changed the bus company's name to BYD Bus Company Limited in August 2009 to officially enter the bus business operation. |
| BYD Bus will renovate the plant of the former Hunan Midea Bus Co., Ltd. and start production in October 2010 if all goes as planned (by investing approx. 3 billion Yuan for the plant and related facilities). Production goals for 2010 include 30,000 passenger cars, 300 large EV buses, and 1,000 diesel buses (700 route buses, 300 long-distance buses). |
| BYD Bus plans to increase annual capacity to 300,000 passenger cars and buses combined (including bus chassis) in 2011 with future plans to boost the capacity to 800,000 passenger cars (including mini-vans), 5,000 large EV buses, and 10,000 buses. |
A new engine plant with annual capacity of 600,000 planned in Xi'an
| In August 2009, BYD Auto announced plans to build a new engine plant, with an annual capacity of 600,000, in Xi'an city, Shaanxi province Though time of initial operation, production models and other details have not been disclosed, BYD Auto's annual capacity of engines will rise to at least 900,000 in total including the engine plant (annual capacity of 200,000 as of the start of operation in 2007) attached to the passenger car plant in Xi'an, and the engine plant (annual capacity of 100,000 as of the start of operation in February 2008) attached to the passenger car plant in Shenzhen. |
BYD Auto: Main supplied parts and their suppliers
| |
Supplier |
Supplier's total
production scale of
the specific product
(in 10 thousand units) |
| Engines (4G15S, etc.) |
Harbin Dong'an Engine |
33.24 |
| Manual transmission (MT) |
Harbin Dong'an Engine |
28 |
| Crankshafts |
Neijiang Jinhong Crankshaft |
80 |
| Pistons |
Mahle Engine Components (Chongqing) |
347 |
| Low-pressure oil hose |
Xi'an Huanshan Precision Tube |
103.7 |
| Intake/exhaust manifolds |
Xinxing Heavy Industry Hubei 3611 |
5.86 |
| Solenoid valves |
Shanghai Xin'an Solenoid Valve |
48 |
| Clutch Slave Cylinder |
VIE Group |
36.7 |
| Transmission cases |
State-Owned 228 Factory (Changchun) |
77.58 |
| Steering modules |
Chongqing Changfeng Machine |
63.4 |
| Chongqing Changfeng Steering |
6.99 |
| Steering servo mechanism |
Chongqing Changfeng Machine |
6.99 |
| Chongqing Changfeng Steering |
6.99 |
| Hydraulic master cylinders |
VIE Group |
42.8 |
| Proportional brake valves |
VIE Group |
25.4 |
| Vacuum after-burners |
VIE Group |
42.8 |
| Brake hose |
Qingdao Sunsong |
631 |
| Stabilizers |
Anqing Hengruida Auto Parts |
72 |
| Shock absorber modules |
Nanyang Zhejian Auto Shock Absorb |
405 |
| Wheel ring modules |
Chengdu Lingchuan Special Industry |
73.6 |
| Mini motors |
Chegdu Huachuan Electric Parts |
99.57 |
| Harnesses |
THB Group (Former Henan Tianhai Electronics) |
521 |
| Keys |
Tianjin Shengyang Automobile Parts |
207 |
| Rear-view mirrors |
Changchun Dongguang Group (CNGC) |
64 |
| Jilin FAW Industry Dongguang |
20 |
| Sealing |
Shanghai Hongyang Seals |
10,315 |
| Hubei Sanhuan Automotive Accessories |
3,758 |
| Springs |
Tianjin Lizhou Hardware Spring |
856 |
| (Notes) 1. |
BYD Auto is said to be operating under the policy to rely on internal supply by group companies for over 70% of parts of its finished cars. The components in the F3 sedan are nearly all made internally (engines, electronics, air-conditioning, lamps, airbags, seats, seatbelts, steering, shock absorbers, doors and audio). Tires, windshields and certain universal parts are all that are supplied externally. |
| 2. |
The production cost of BYD Beijing Mold Manufacture Center that makes automotive molds (founded in May 2003 after reorganizing the former Beijing Jichi Automotive Mold Co., Ltd.) is said to be only 27 to 40% of that of foreign manufacturers and supplying molds to GM, Nissan, and Land Rover as well. |
| 3. |
In July 2009, BYD Auto began production of automotive wheels and hubs, etc, in Hejin city, Shanxi prov. |
| 4. |
An automotive body parts plant (located in Shaoguan city, Guangdong prov.) of BYD Auto Sales Co., Ltd., one of BYD Auto's sales subsidiaries, is expected to start operation by the end of 2012. It is said that the new plant will produce parts that are normally produced by Tier 2 and Tier 3 suppliers. |
■Vigorous plan of KD assembly operations outside China including assembly operations in the US
BYD Auto is operating under the policy of vigorous KD assembly operations outside China and has plans to build 40 plants by 2025 toward that goal. It has already started assembly operation in Egypt and has realistic plans to do the same in Malaysia. The company is also studying the feasibility of assembly operations in the US also.
US: Exporting e6 and F6DM in 2010; possible construction of an EV/PHEV plant
| BYD Auto is studying the feasibility of building a KD assembly plant in the US, with Los Angeles, California being the most promising location. The company has plans to start construction work in 2011 at the earliest with initially several hundred employees to produce the e6 EV crossover for the North American markets. This will be followed by F6DM PHEV sedan (some press reports F3DM may be added as well). |
| Prior to the construction of a new plant, BYD Auto will establish a North American operation headquarters in 2010 and start marketing the e6 in the US (with the price tag ranging between US$30,000 and 40,000). The company also plans import and sales of F6DM starting in 2011 (estimated price tag of US$30,000 or less). It is said BYD Auto has already begun construction of sales networks in North America with plans to sell them in Canada also. |
| (Note) |
BYD Auto is currently developing the European versions of the e6 and F6DM for possible market launch in Europe in 2011 if all goes as planned. |
Egypt: CKD assembly of F3 started in 2009 with plans to expand sales to Middle East and Africa
| In December 2009, BYD Auto began the CKD assembly and taking sales orders of F3 in Egypt at AMANLE Automotive Manufacturing Factory that it had been providing passenger car models and production engineering assistance since 2005 (F3's sales price ranges between 59,900 to 60,900 Egyptian Pound or approx. US$11,000). Though the scale of local production has not been disclosed, the company plans to expand sales to Middle East and African markets. |
(Note) Locally produced BYD model-based cars have been sold in Egypt entirely under local brands.
Malaysia: KD assembly of F0 planned for sales in ASEAN markets
| In February 2010, BYD Auto signed a memorandum of understanding (MOU) with Berjaya Corporation Berhad of Malaysia with regard to the construction of passenger car assembly plant. The two companies are expected to enter into a partnership arrangement by the end of 2010 under which they will co-develop the right-hand drive version of the F0 hatchback powered by a 1000cc engine. It is said the car will be KD-assembled under the BYD brand and marketed in ASEAN markets (the F0 is marketed in China at the price of US$5,000 to 7,000) (the planned scale or timing of production has not been disclosed). |
| (Note) |
The F0 production may face a number of problems before it is implemented since the Malaysian government has frozen issuing a new license for manufacturers of automobiles other than luxury passenger cars, EV and HEV, pickups, etc. |
Starting sales of F3DM, a PHEV, to private consumers in 2010 and introducing EV e6 as well
BYD Auto began limited sales of F3DM, a PHEV, in December 2008. The company plans to start selling the same to private consumers in 2010. It also plans to start selling e6 EV in the second half of 2010 and introduce the same in the US market as well. This will be followed in 2011 and afterwards by additional introduction of PHEVs such as the F6-based F6DM and F0-based F0DM.
Comprehensive partnership with Daimler announced aimed at the development of EV for Chinese market
| In March 2010, BYD and Daimler signed a memorandum of understanding (MoU) regarding the development of EV for Chinese market and the decision was announced at the Geneva motor show. The agreement will allow the two companies to (1) make joint efforts to develop new electric vehicles designed exclusively for the Chinese market, (2) jointly establish and own new brands for marketing the newly-developed EV, and (3) establish a common technical center in China for developing, designing and testing new EVs. |
| Daimler commented on the agreement saying it represented a perfect match between Daimler's know-how about automotive architecture and BYD's outstanding battery technology and electric drive systems. BYD commented the partnership represented the birth of a new business model in which the two companies are complementing each other into a "win-win" relationship. |
| The EV to be developed jointly is said to be more compact in size than the e6 being developed by BYD with the vision of marketing in Europe and US as well. Daimler will supply the body while BYD will supply battery cells. It is said the body to be supplied by Daimler may be diverted from the A Class passenger car the EV version of which is being developed at present. For information, the e6, an EV being developed by BYD with the vision of marketing in Europe and US as well, is said to have the overall length and width of 4554 mm and 1822 mm. |
| Source: Daimler's press release dated 2010.3.2, etc. |
| (Notes) 1-1. |
BYD also signed a MoU with VW in May 2009 for building a partnership of cooperation in the area of EV/HEV that use lithium-ion batteries. It is said the MoU stresses development in the Chinese market in particular although details have not been disclosed. |
| 1-2. |
It must be noted, however, VW is of the view that "it is important to study all feasibilities and scrutiny technologies of several companies before a specific technology is established." VW has been engaged in joint development of automotive batteries with Sanyo and Toshiba of Japan and VARTA Microbattery of Germany. |
| 2. |
In August 2009, BYD made it known that it reached an agreement with SAIC Motor Corp. to supply its battery modules for EV and HEV. Later, in December 2009, however, SAIC Motor Corp. announced that it had entered into an agreement with A123 Systems, a US corporation, to jointly develop battery systems for EV and HEV, with plans to establish a new company temporarily referred to as Shanghai Advanced Traction Battery Systems (ATBS) and the previous agreement with BYD is said to have been called off. |
BYD Auto's new model launch schedules
| |
Time of launch |
Details |
F3DM
(PHEV) |
Dec. 2008
(Limited to
fleet sales) |
An F3 sedan-based plug-in hybrid (PHEV). A series type PHEV having a charging engine with EV range of 100km after full charge (cruising at 50km/h) and HEV range of 330km. 0→100km acceleration in 9 seconds. Max speed 160km/h and fuel efficiency of approximately 16kWh/100km. Euro IV compliant. Overall dimensions 4533/1705/1520mm. |
| Features include BYD's lithium-ion iron phosphate battery module (100 cells, 20kWh capacity, weighing 20kg, up to 2,000 cycles of charge and discharge), 50kW driving motor, 1.0L 3-cylinder engine BYD371QA with max. output of 50kW, and regenerative brakes. |
| Takes 9 hours to full charge from a household outlet, 15 minutes from an 80% quick charger at the service station, 10 minutes from a 50% quick charger. Limited sales (fleet sales and sales to government organs) began in December 2008 in 14 cities in China at the price of 149,800 Yuan. Sale to private consumers is expected to start toward the end of March 2010. |
| S8 |
Jul. 2009 |
BYD Auto's first coupe (2 doors, 2 seats) features 1.8/2.0L variable intake manifold type BIVT engine (5-speed MT and CVT available). Max. speed 180km/h. Overall dimensions and wheelbase of 4490/2020/1405/2520mm. Retractable panoramic roof (opens and closes in 25 seconds). Priced at 165,800 to 206,800 Yuan. |
| G3 |
Oct. 2009 |
A medium size sedan sharing the platform with F3. Overall dimensions and wheelbase of 4600/1705/1490/2610mm. 1.5L Mitsubishi engine 4G15S or BYD 473QB engine with MT, or 1.8L BYD 483QA engine with Belgian Punch CVT. Euro IV compliant. |
| Standard features include ABS, EBD, side airbags, curtain airbags, backup radar, and keyless system. Priced at 76,900 to 109,900 Yuan. Marketed mainly in large cities with main rivals including Excelle, Elantra Yuedong, Lavida, and Cruze. |
| M6 |
After Feb. 2010 |
A high-class full-sized MPV (7 and 9 seats). Overall dimensions and wheelbase of 4808/1802/1756/2950mm. 2.4L Mitsubishi engine 4G69 with 4-speed AT, or 2.0L BYD engine BYD483 with 5-speed MT. Euro IV compliant. |
| Features include ABS, backup radar, LED rear lamps, GPS, and motor-driven sunroof. Priced at approximately 150,000 to 200,000 Yuan. Main rivals are Guangqi Honda Automobile's Odyssey, Shanghai GM's GL8, and Jianghuai Automobile's Refine. |
| I6 |
After Mar. 2010 |
An F6-based sedan with 2.0L BYD engine 483QB or 2.4L Mitsubishi engine 4G69 (MT and 4- and 5-speed AT available). Priced at 90,000 to 150,000 Yuan. |
| S6 |
After Jun. 2010 |
An urban type medium size SUV that shares the platform with F6. 2.0L BYD engine BYD483QB with 5-speed MT, or 2.4L Mitsubishi engine 4G69 with 4-speed AT. CVT version to be added later. Overall dimensions of 4740/1845/1635/2740mm. Priced at 100,000 to 150,000 Yuan. Said to resemble Lexus RX350 in the exterior. |
| G6 |
By Jun. 2010 |
A B class sedan to be powered by a 2.0L engine. Overall dimensions of 4600/1705/1490/2610mm. To be sold at the price of over 100,000 Yuan. |
| L3 |
2010 |
A post-F3 high-class medium size sedan. 1.5L Mitsubishi engine 4G15S or BYD engine 473QB. Overall dimensions of 4568/1716/1480/2615mm. Marketed mainly in large cities at the price of over 120,000 Yuan (taking sales orders began in January 2010). |
| I3 |
2010 |
A sedan with 1.5L Mitsubishi engine 4G15S or BYD engine 473QB or 1.8L BYD engine 483QA with 5-speed MT or Punch-made CVT. To be priced at 50,000 to 80,000 Yuan (or 80,000 to 120,000 Yuan as some press reports). Main rivals are said to include Beijing Hyundai Motor's Elantra Yuedong and Shanghai GM's new Excelle. |
e6
(PEV) |
The second
half of 2010 |
An F6-based EV (dubbed PEV：Plug-in EV by BYD). Powered by BYD's lithium-ion iron phosphate battery (cell life is said to be 600,000km). Max. output of 75kW or 160kW (front wheel motors) and 40kW (rear wheel motors). |
| 0→100km/h acceleration in 10 seconds or less. Max. speed 160km/h or higher. Cruising range of 330km or more after full charge (or 400km as some press reports). Fuel efficiency of 20kWh/100km corresponds to 1/3 to 1/4 of the similar models powered by gasoline engines. Takes approximately 15 minutes for charging from a 80% quick charger, approximately 10 minutes from a 50% charger, or no more than 2 hours from a household outlet for full charge. |
| Estimated price of 200,000 to 300,000 Yuan (or 150,000 Yuan as some press reports). Sales will start with taxi operators in Shenzhen city with plans to export to North American markets in the latter half of 2010 (to be sold for US$30,000 to 40,000 in the US market) and to European markets in 2011 or later. |
F0DM
(PHEV) |
After 2011 |
An F0-based hatchback PHEV. Has the same PHEV system as that of the F3DM but the price is expected to be set lower than F3DM (149,800 Yuan). |
F6DM
(PHEV) |
After 2011 |
A medium- to high-class F6 sedan-based PHEV. Has the same PHEV system as F3DM but the overall dimensions are larger (4846/1822/1465mm). Will not be available until 2011 or later but will be sold not only in China but also in the US and Europe. Expected to be priced at around 200,000 Yuan in China and no higher than US$30,000 in North America. |
| T6 |
After 2011 |
The SUV originally planned for market launch in September 2010 but delayed due reportedly to insufficient production capacity. |
| F5 |
After 2011 |
Said to be one of the passenger cars to be produced by the second plant in Xi'an slated for operation in 2010. Overall dimensions of 4600/1760/1490/2660mm. Said to be priced at around 100,000 Yuan. |
| F4 |
After 2011 |
Said to be a passenger car smaller in body size than F5 but details are unknown. |
BYD Bus's new model launch schedules
Large
EV Bus |
2010 |
Production said to start in 2010 at Changsha plant in Hunan province but details are unknown. |
| B9 |
After 2010 |
Buses to be produced by Changsha plant in Hunan province but details are unknown. |
| B6 |
| C3 |
After 2010 |
Said to be passenger cars to be produced by Changsha plant in Hunan province but details are unknown (most likely to be mini-vans). |
| C6 |
BYD Auto's sales network in China
| Sales network |
Available models |
Distributors
(as of November 2009) |
| A1 |
F3, F6, S8, M6, S6, F3DM, F6DM, etc. |
Over 400 |
| A2 |
F3R, F0, S8, L3, M6, Y6, etc. |
Over 200 |
| A3 |
F6, F3R, S8, G3, G6, M6, T6, etc. |
Over 200 |
| A4 |
I3, I6, M6, S6, S8, etc. |
0 |
Total
(over 100 dealers in 2005; over 1000 dealers sought by the end of 2010) |
Over 800
(incl. over 500 are 4S dealers) |
| (Notes) 1. |
The A3 sales network started in November 2009. Sales of F6 on A3 are limited to northern regions. |
| 2. |
Sales prices are 59,800 to 99,800 Yuan (F3), 60,800 to 73,800 Yuan (F3-R), 149,800 Yuan (F3DM PHEV), 165,800 to 206,800 Yuan (S8), 76,900 to 109,900 (G3), 89,800 to 149,800 (F6) and 36,900 to 53,900 (F0) (the sales price of the Flyer that was discontinued in 2008 was 38,000 to 45,000 Yuan). |
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