Expanding the universe of electric cars.
BYD began life as a manufacturer of cell phone batteries and didn’t make its first car until 2003. But for three years, it was the world’s largest maker of vehicles that run partly or wholly on electricity (Tesla only recently overtook it). The Chinese company’s development of a flexible “E-platform” for EV design and construction has been key to its success. A basic BYD model sells for a mere $8,500 or so, after subsidies—a key factor in evangelizing EVs more widely. And a recently announced joint venture with Japan’s Toyota should expand BYD’s global footprint.
For more on BYD and China’s EV market, see the feature from Fortune‘s September 2019 issue, “Electric Car Gold Rush: The Auto Industry Charges Into China.”
Motor Vehicles and Parts
|Prior Year Rank||-|
|Revenues ($M) (Last Fiscal Year)||$18,426|
|Profits ($M) (Last Fiscal Year)||$421|
|Market Value ($M) as of 8/12/19||$17,677|