BYD's strategy to expand global sales network for EVs and PHVs
Production and sales of EV jointly developed with Daimler begins
This report describes the latest business activities of BYD Company Limited., which is the front-runner among Chinese OEMs in technology for all-electric vehicles (EVs) and plug-in hybrid vehicles (PHVs). The report outlines BYD's latest business policies on its automotive business, its new automotive technologies, and its plan for introducing new passenger cars and commercial vehicles, based on BYD's mid-term plan.
BYD's car sales are failing to grow
In recent years, BYD's overall car sales have not increased much. The company's car sales rapidly grew in 2008 and 2009, reaching sales of 500,000 units in 2010. However, since then, its car sales have remained around 500,000 units.
BYD achieves top share of Chinese PHV car market
On the other hand, BYD captured approximately 37% of the share of China's next-generation-vehicle market during the first half (January to June) of 2014, being ranked among the top OEMs. (Specifically, the next-generation vehicle market includes EVs, PHVs, and fuel cell vehicles (FCVs), but does not include alternative-fuel vehicles such as LNG and CNG cars.) The company gained the number-one spot in the PHV segment for the same period, achieving a market share of more than 60%.
BYD remains profitable thanks to non-operating income, despite low earnings in automotive business
BYD ended the year 2013 with consolidated net sales of CNY 52.8 billion, operating income of CNY 110 million, and an operating profit ratio of 0.2%. Thanks to its non-operating income of CNY 780 million, the company achieved a CNY 780 million net income.
Developing new technologies and introducing models that incorporate the latest EV/PHV technologies
Claiming its "542 Technology" to be the latest in next-generation, comprehensive vehicle technology, BYD plans to utilize its EV and PHV technologies to introduce models with a competitive edge.
BYD began building and selling an EV passenger car, the first model it jointly developed with Daimler
BYD began building the Denza EV 2box hatchback at the Shenzhen plant of its 50-50 joint venture between BYD and Daimler, and started selling the model by subscription in Shanghai in September 2014. The Denza EV is the first model jointly developed between BYD and Chrysler.
In addition to further expanding sales of PHVs and EVs for the consumer market, BYD is promoting the electrification of public transportation vehicles
Based on its proprietary in-vehicle secondary storage batteries and PHV power system technologies, BYD is promoting electric-driven taxis, buses and other public transportation vehicles worldwide.
2014 Beijing Motor Show: Exhibitions by BYD (May 2014)