BYD

BYD is a Chinese industrial conglomerate whose business spans automotive, electronics, new energy, and rail transit . Founded in 1995, it has become the world's top-selling new energy vehicle brand—reaching 7 million cumulative NEV sales by March 2024, with 3.02 million vehicles sold in 2023 alone . The company operates through increasingly diversified auto brands including Dynasty, Ocean, Denza, Yangwang (its million-yuan luxury line launched in 2023), and Fangchengbao .

BYD's growth has been driven by heavy, long-term R&D investment: RMB 39.57 billion in 2023, with over 100,000 R&D staff . Its proprietary technologies include the Blade Battery, DM hybrid systems, e-Platform 3.0, CTB cell-to-body integration, and the Xuanji intelligent architecture . The company also maintains a corporate venture capital arm focused on electrification, intelligent driving, semiconductors, and carbon neutrality, with the stated aim of securing supply chains and fostering industrial collaboration .

As 高榕创投 director Xin Wang characterized it, BYD's culture combines "obsessive" technology investment with pragmatic execution and decades of conviction in new energy .