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 BYD EV maker (1) infographic
Graphic shows global workforce of Tesla, Toyota, Volkswagen and BYD, and surge in sales of battery EVs.


BYD’s bid to conquer EV markets

By Duncan Mil

June 8, 2023 - China’s biggest electric vehicle producer BYD is betting low prices and producing its batteries and chips will make it a global EV leader. Sales of battery EVs exceeded 7.68 million in 2022.

The Warren Buffett-backed automaker, the nation’s biggest car brand, is expanding its battery EV sales to Australia, Brazil, Israel and Thailand.

BYD (Build Your Dreams) recently entered Mexico, Spain and the UK, and CEO, Wang Chuanfu, has now set his eyes on Italy. Chuanfu is vying to transform his company -- already the biggest EV producer in China -- into a significant global player in new-energy vehicles.

BYD manufactures its batteries and its semiconductors: it’s now the world’s second-largest cell maker. Last year BYD took a 16.1 per cent global battery market share behind rival Contemporary Amperex Technology Co. Ltd’s 33.4 per cent.

BYD sold 1.86 million new-energy vehicles last year and increased its global workforce to 570,060, about 200,000 more than the world’s number-one automaker, Toyota Motor Corp.

PUBLISHED: 08/06/2023; STORY: Graphic News; PICTURES: BYD