KATHMANDU: BYD is a household name in Nepal, almost synonymous with electric vehicles (EVs). That fact that about a fourth of over 25,000 EVs cruising on Nepali roads are BYD speaks volumes about the popularity of this Chinese brand in Nepal.
Globally, BYD is the leader in new energy vehicles, including battery-electric (BEV) and plug-in hybrid (PHEV) models, offering a reliable alternative to internal combustion engine (ICE) vehicles. In 2024 alone, BYD sold 4.3 million units of new energy vehicles, thanks to its cutting-edge technology, innovative features and competitive pricing.
This scribe recently got an opportunity to visit BYD’s museum, factory and experience center in Shenzhen, China. The museum traces BYD’s evolution, from its founding to its current innovations. Housed in the company’s original headquarters, it showcases early office setups, the first battery production line, initial car models and recent breakthroughs. The visit gave me a clear understanding of BYD Chairperson Wang Chuanfu’s vision and dedication to new energy technologies, particularly his mission to “Cool the Earth by One Degree”. This vision is reflected in BYD’s heavy investments in renewable energy and sustainable technologies.
Not Just A Car Manufacturer
BYD is far more than an automaker. It produces rail transit systems, solar panels, semiconductors and lithium-ion batteries. It currently ranks as the world’s second-largest supplier of high-voltage EV batteries. Its Blade Battery is renowned for safety and high energy density. Operating across four main business verticals—electronics, automobiles, new energy and rail transit—BYD climbed to 143rd on the 2024 Global Fortune 500 list.
Batteries to Breakthroughs
Founded in 1994 as a rechargeable battery manufacturer, BYD has grown by leaps and bounds over the past decades. It progressed from NCM (nickel manganese cobalt) batteries to safer lithium-ion batteries and eventually to its revolutionary Blade Battery.
Over the years, BYD has partnered with global giants like Motorola and Nokia, and expanded into semiconductors. The company has achieved several milestones, including the development of technologies like Blade Battery, Fourth-Generation DM Super Hybrid Technology, e-Platform 3.0, and DiSus Intelligent Body Control System. Recently, BYD unveiled advanced driver-assistance systems and a Super e-Platform with a 1,000-volt architecture, capable of adding 400 kilometers of range in just five minutes of charging.
Late Start But A Swift Rise
BYD entered the automotive industry in 2003, a decade after its founding, by acquiring Xian Qinchuang Automobile Company. Its first gasoline car, the F3, launched in 2005 and attracted investment from renowned investors like Warren Buffett in 2008. In recent years, BYD has shifted entirely to BEVs and PHEVs by phasing out gasoline vehicles.
BYD has expanded globally with a range of models produced in factories in North America, Brazil and beyond. It has been launching groundbreaking vehicle models and charging infrastructure. Its Recent innovations include the Dual Mode Off-Road Platform, high-performance e4 Platform and the DiSus Intelligent Body Control System. The company recently celebrated the production of its 10 millionth vehicle. Notably, BYD develops most components in-house, except for tires, steel sheets and glass.
Billions Invested in R&D
BYD’s global dominance stems from its massive investment in research and development. In 2023, it allocated 40 billion Chinese yuan to R&D. Investments in R&D increased to 52.5 billion Chinese yuan in 2024.
With over 125,000 scientists, engineers and other specialists dedicated to research and development and 48,000 patent applications (30,000 granted), BYD’s innovation engine is showing no sign of slowing down. The company, which started with a team of just 20 in 1994, now has over 900,000 employees worldwide, working in marketing, R&D, administration, production and sales.
BYD’s focus on sustainability and innovation continues to drive its success in the global market.
