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BYD Auto Co., Ltd. ("Build Your Dreams") is the automotive subsidiary of the Chinese multinational BYD Co Ltd, headquartered in Xi'an, Shaanxi Province. It was founded in January 2003, following BYD Company's acquisition of Qinchuan Automobile Company in 2002. The company produces cars, buses, trucks, electric bicycles, forklifts and rechargeable batteries. The current model range of automobiles includes electric vehicles, plug-in hybrid vehicles and petrol engine vehicles.
BYD Co Ltd founded the wholly owned subsidiary BYD Auto in 2003, after acquiring the Qinchuan Machinery Works from Norinco in 2002 and raising HK$1.6 billion on the Hong Kong Stock Exchange. The acquisition may have been made solely to acquire the passenger car production license held by the purchased company. Qinchuan had been manufacturing cars since 1987, when the company began production of the 0.5 L (30.5 cu in) QJC7050 model. At the time of the acquisition, its QCJ7181 Flyer was in production, which from 2005 was rebadged to the "BYD Flyer."
In 2008, a plug-in hybrid version of the BYD F3 compact sedan was introduced, the world's first production model plug-in hybrid car. In September of that year, Warren Buffett took a HK$1.8 billion stake (US$ 230 million) in the company through Sino-American Energy Holdings.
BYD's total car sales in 2009 were 448,400 vehicles, and the BYD F3 was the best-selling sedan in China that year. In the same year, BYD began the export of its cars to Africa, South America and the Middle East, where the cars competed on price, not quality.
In 2012, the city government of Shenzhen purchased 500 BYD e6 cars for use as taxis. A total of 506,189 passenger cars were sold in China in 2013, making it the tenth-largest selling brand.
In 2013, BYD was awarded The Top Crash Facility Award of the year 2013.
In 2014, the BYD Qin plug-in hybrid compact sedan, the first model of BYD's new "Dynasty Series" (王朝系列), had total sales of 14,747 (plus a relatively small number of sales in Latin America), In 2015, sales of the Qin increased to 31,898 and it was the 88th highest selling sedan in China. In 2016, the BYD Tang plug-in hybrid SUV had 31,405 sales, the plug-in hybrid version of the Qin compact sedan had 21,868 sales and the BYD e6 electric compact MPV had 20,605 sales. By 2016, total sales of the Qin were 68,655 cars.
BYD US Headquarters in Los Angeles
In 2015, the company was planning to open factories in Brazil to produce electric cars and buses. In July 2015, exports to Russia were suspended, due to the war in Ukraine and the falling value of the Russian currency. BYD was the highest-selling brand of highway-legal light-duty plug-in electric vehicles (combined sales for plug-in hybrids and battery electric cars), with 61,772 passenger vehicles sold, mostly plug-in hybrids. BYD continued as the world's top-selling plug-in car manufacturer in 2016 with over 100,000 units sold, up 64% from 2015. BYD sold more than 100,000 new energy passenger cars in China in 2016. The BYD Tang crossover SUV was the top-selling plug-in car in China in 2016 with 31,405 units delivered.
BYD achieved top rankings in the 2015 J.D. Power's Quality Study.
In September 2016, the company became the third-largest manufacturer of plug-in cars, with a total of 161,000 plug-in cars produced since 2008. Also, in September 2016, the company introduced a range of electric sanitation truck models, to be used in Beijing.
Since 2017, BYD has been negatively impacted by a reduction of subsidies granted by the Chinese government.
In May 2020, BYD announced that it would start expanding in Europe, starting with Norway. BYD's launch will consist of the BYD Tang and a range of commercial vehicles. However, Australia also announced that there will be 2000 BYD electric vehicles in the fleet, it will be in the part of the new taxi operator ETaxiCo. The fleet will be operated from three sites in the Northern Beaches Council area as part of a six-month trial, When the program launches – which is at this current time planned for following months depending on COVID-19 factors – it will be using 15 specially fitted e6 electric compact SUVs that have been imported by Nexport, with plans to expand the fleet to 120 by August. It'll expected to be reaching the goal up to 2000 vehicles in the fleet by the end of 2021.
BYD will deliver a total of 1,002 electric buses to Bogota, the capital city of Colombia, by mid-2022, after winning a contract for 406 electric buses in January 2021.