BYD, short for “Build Your Dreams,” embodies the company’s vision and commitment to creating a sustainable and eco-friendly future for automobiles. This emerging Chinese car brand has quickly become a global leader in the new energy vehicle (NEV) industry, driven by cutting-edge technology, innovative solutions, and a passion for change.
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At the heart of BYD’s success is the vision and determination of its founder, Wang Chuanfu. Born into a poor farming family in Anhui province, Wang’s perseverance and hard work led him to earn a master’s degree from the Beijing Non-Ferrous Research Institute.
His experience working in government research and private companies gave Wang a unique perspective on the growth potential of China’s battery industry. In 1995, he founded BYD with a focus on rechargeable batteries.
1995 – The Beginning: From Battery Manufacturer to NEV Leader
BYD started as a manufacturer of rechargeable batteries. Leveraging its expertise in battery technology, BYD expanded into the automotive market in 2003 by acquiring Qin Chuan Auto. In 2004, BYD launched its first electric vehicle, marking a significant step in pioneering the electric vehicle market in China.
2008-2013 – The Turning Point: Innovation and Technology Driving Success
BYD’s relentless pursuit of technological advancements and innovation led to the development of products and services that met consumer needs. In 2008, BYD unveiled the F3DM, the world’s first plug-in hybrid vehicle, attracting global investors, including Warren Buffett, who invested in BYD in 2010.
BYD continued to innovate, launching the BYD Qin, its second-generation plug-in hybrid, in 2013. The company also partnered with Mercedes-Benz to develop luxury electric vehicles under the Denza brand. In 2021, BYD introduced the DM-i Super Hybrid technology, a groundbreaking hybrid system known for its efficiency and superior fuel economy.
In 2022, BYD made history by announcing the complete cessation of internal combustion engine vehicle production, focusing entirely on NEVs. The company also introduced CTB (Cell to Body) technology, integrating battery cells into the vehicle’s structure, and achieved a milestone by producing its 5 millionth NEV.
The Present – Reaching New Heights: Sustainable Success and Global Expansion
Today, BYD is a global leader in the NEV market, with continuously growing sales and expansion into various countries. The company’s robust strategy for competing in the automotive market includes:
- Technological Leadership
- Supply Chain Control
- Strong Brand Building
- Rapid Market Expansion
- Strategic Partnerships
BYD in Thailand: Soaring Sales and a New Manufacturing Plant
BYD officially entered the Thai market in 2022, partnering with Rever Automotive Co., Ltd. as the official distributor and after-sales service provider for BYD electric vehicles in Thailand. Rever Automotive, a key partner under the Rêver Automotive Group, has played a pivotal role in BYD’s rapid success, with electric vehicle sales experiencing exponential growth. In 2023, BYD became the top-selling electric vehicle brand in Thailand, with over 30,500 units sold, particularly the popular ATTO 3 model.
BYD’s success in Thailand is attributed to several factors: offering high-quality electric vehicles at accessible prices,establishing strong local partnerships, and benefiting from government policies promoting electric vehicle adoption.
To reinforce its commitment to the Thai market, BYD opened a new manufacturing plant in the WHA Industrial Estate in Rayong province on July 4, 2024. With a production capacity of 150,000 vehicles per year, this plant will enable BYD to meet the growing demand for electric vehicles in Thailand and the ASEAN region. The plant serves as a production base for right-hand drive electric vehicles for both domestic and export markets in ASEAN. It also manufactures key components such as batteries and powertrains.
Delivery of the 8 Millionth NEV to the Mae Fah Luang Foundation Under Royal Patronage
During the official opening of the manufacturing plant, BYD presented the BYD DOLPHIN, its 8 millionth NEV, to the Mae Fah Luang Foundation Under Royal Patronage. Wang Chuanfu, Chairman and President of BYD Group, handed over the vehicle to Mom Luang Dispanadda Diskul, Chief Executive Officer of the foundation. This gesture underscores BYD’s dedication to creating a sustainable future.
The Future of BYD: Leading the New Energy Movement in Thailand and Globally
BYD aims to lead the transformation of the automotive industry towards a clean and sustainable energy era, both in Thailand and worldwide. The company is committed to developing new technologies and innovations to offer eco-friendly transportation options to people around the globe.
In Thailand ,BYD plans to introduce more 100% electric and plug-in hybrid vehicles to cater to diverse consumer needs. Additionally, BYD is dedicated to creating jobs and developing skills for the Thai workforce in the automotive industry.
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