BYD Company

BYD Company Limited

File:BYD Logo.svg BYD logo
Company type	Public
Industry	Conglomerate (Automotive, Electronics, Energy)
Founded	February 1995 (1995-02)
Founder	Wang Chuanfu
Headquarters	Shenzhen , China
Area served	Worldwide
Key people	Wang Chuanfu (Founder and CEO)
Products	Electric vehicles, rechargeable batteries, electronic components, solar panels, urban rail transit systems
Number of employees	900,000+ (2024)
Website	www.byd.com

BYD Company Limited, commonly known as BYD (), is a Chinese multinational conglomerate based in Shenzhen, Guangdong, China. The enterprise functions as a vertically integrated group with principal subsidiaries such as BYD Auto, which manufactures vehicles; BYD Electronics, dedicated to producing electronic components and assemblies; and FinDreams, specializing in automotive parts and batteries for electric vehicles.

Established by Wang Chuanfu in February 1995 initially as a battery manufacturer, BYD Auto was launched in 2003 and has since become the leading global producer of plug-in electric automobiles. Since 2009, more than half of BYD's revenue has been derived from vehicle sales, increasing to over 80% by 2023. In addition to vehicles, the company manufactures rechargeable batteries—including those for mobile devices and energy storage—forklifts, solar energy panels, semiconductors, and urban rail transit systems. In 2024, FinDreams Battery secured the position of the world's second-largest electric vehicle battery manufacturer with a 17% share of the market, second only to CATL.

As of September 2024, BYD stands as China's largest private employer since 2022, employing upwards of 900,000 individuals, including more than 100,000 dedicated to research and development. The company has demonstrated strong innovation capabilities with over 13,000 patents filed between 2003 and 2023. BYD's shares are publicly traded on both the Hong Kong Stock Exchange (H shares) and the Shenzhen Stock Exchange (A shares). In the 2024 Fortune Global 500 ranking, it placed 143rd.

Name

The name "BYD" represents the pinyin initials of its Chinese name Biyadi. Initially known as Yadi Electronics (亚迪电子), the company was named after Yadi Road located in Dapeng New District, where it was first situated. To differentiate itself and gain an alphabetical advantage at trade exhibitions, founder Wang Chuanfu added "Bi" (比) to the original name. Although "BYD" does not have an intrinsic meaning, it adopted the slogan "Build Your Dreams" as a backronym during the 2008 North American International Auto Show held in the United States.

Early years

On November 18, 1994, Wang Chuanfu founded BYD with a team of 20 employees in Buji Town, located within Longgang District, Shenzhen. Officially incorporated on February 10, 1995 as Shenzhen BYD Battery Company Limited with registered capital of CN¥2.5 million, BYD initially concentrated on manufacturing rechargeable NiCd batteries. Wang recognized a market niche when Japanese manufacturers transitioned towards higher-end nickel–metal hydride and lithium-ion batteries while he was employed at Beijing Nonferrous Research Institute. To seize this opportunity, he moved to Shenzhen accompanied by his cousin Lu Xiangyang.

BYD's manufacturing strategy combined manual labor with self-produced machinery to achieve cost efficiencies that reduced per-unit expenses by five to six times compared to Japanese rivals. The company pioneered innovations in battery technology such as foamed nickel roller welding that improved electrode functionality.

This competitive edge attracted prominent clients like Sanyo in 1996, marking BYD’s entry into the international battery supply chain. By 1997, during the Asian financial crisis period, major corporations including Philips, Panasonic, and Motorola became significant customers.

Between 1998 and 1999, BYD expanded its presence overseas by establishing subsidiaries in the Netherlands (BYD Europe B.V.) and the United States (BYD America Corporation). Its first industrial park commenced operations in Kuichong, Shenzhen in 2000.

Entering into mobile phone component manufacturing during the early 2000s, BYD had become by July 2002 the world’s largest NiCd battery producer with a commanding global market share of 65%, surpassing Sanyo.

In September 2002, Sanyo initiated legal action against BYD alleging patent infringement concerning lithium-ion battery technology. Later in 2007, Taiwanese electronics giant Foxconn filed lawsuits accusing BYD of unfair competition and misappropriation of trade secrets. Previously, BYD had faced but overcome patent infringement claims from Sony and Sanyo.

Despite these legal disputes, BYD Electronics successfully went public on the Hong Kong Stock Exchange in December 2007 after delays caused by conflicts with Foxconn.

Entry into the automotive sector

On 31 July 2002, BYD debuted on the Hong Kong Stock Exchange with ambitions to become the world's second-largest battery manufacturer. Shortly thereafter, in January 2003, it acquired Xi'an Qinchuan Automobile from the state-owned defense enterprise Norinco, aiming to develop electric vehicles powered by batteries. This acquisition was not disclosed in the initial public offering documents and encountered resistance from shareholders.

BYD's early automotive offerings consisted of traditional gasoline-powered cars, such as the BYD F3 launched in April 2005, which gained market traction through aggressive pricing strategies. The company introduced its first plug-in hybrid vehicle, the BYD F3 DM, in 2008, followed by its first mass-produced battery electric vehicle, the BYD e6, in 2009.

Between 2009 and 2020, BYD’s annual automobile sales remained relatively flat at around 400,000 to 500,000 units, while other domestic manufacturers experienced expansion. Since 2020, BYD has witnessed substantial growth fueled by China's increasing demand for new energy vehicles. Starting in 2021, BYD expanded its passenger car exports to major regions including Europe, Latin America, Southeast Asia, and Australia.

Berkshire Hathaway investment

In September 2008, MidAmerican Energy Holdings, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., invested approximately US$230 million to acquire a 9.89% stake in BYD at HK$8 per share. Buffett attributed this strategic investment to Charlie Munger, Berkshire's vice chairman, who recognized BYD’s potential early on. Since 2022, Berkshire Hathaway has gradually reduced its holdings following a significant rise in BYD’s stock price. As of June 2024, Berkshire retained a 6.9% ownership in BYD.

In 2009, BYD expanded into the solar energy sector by acquiring a Chinese solar panel manufacturer and commenced construction of a 100-megawatt solar power facility in Shangluo, Shaanxi Province, with an investment of CN¥500 million.

By that year, BYD ranked as the second-largest producer of nickel-metal hydride (NiMH) batteries and the third-largest manufacturer of lithium-ion batteries globally. In 2012, the company secured over half of the worldwide mobile phone battery market share and was among the top four rechargeable battery producers worldwide.

In June 2011, BYD listed on the Shenzhen Stock Exchange at CN¥18 per share through an IPO that raised CN¥1.42 billion (approximately US$219 million), although it fell short of expectations due to subdued investor confidence and concerns about performance.

In 2016, BYD unveiled its "Skyrail" monorail prototype and announced intentions to enter the global rail transit industry. The inaugural public Skyrail route opened as a 9.7-kilometer loop at Yinchuan’s flower expo in 2018.

Between 2017 and 2019, BYD experienced a sharp decline in net profits amid slowing vehicle sales, with net earnings dropping to CN¥1.6 billion in 2019. CEO Wang Chuanfu described this period as the company’s "darkest moment," focusing solely on survival. Nevertheless, he committed CN¥8.4 billion towards research and development efforts. In 2020, BYD received €2.1 billion in subsidies from the Chinese government to bolster its electric vehicle growth.

Recent developments

In 2020, BYD established four automotive component manufacturing units under the FinDreams brand to supply parts to other automakers. That same year saw the launch of the Blade battery, a lithium iron phosphate (LFP) battery designed for electric vehicles. Despite industry skepticism regarding LFP batteries’ energy density, BYD promoted the Blade battery as a safer alternative offering competitive performance metrics. It was first installed in the BYD Han electric sedan and subsequently incorporated into additional models.

From 2020 onward, BYD experienced remarkable growth in vehicle production and sales driven by surging demand for new energy vehicles within China. The company began exporting electric vehicles globally starting in 2021 with focus markets including Europe, Southeast Asia, Oceania, and Latin America. In March 2022, BYD halted production of vehicles powered solely by internal combustion engines to concentrate exclusively on plug-in hybrids and fully electric models. In 2023, it introduced two new brands: Yangwang and Fangchengbao.

In November 2024, BYD commemorated its 30th anniversary in Shenzhen alongside celebrating the production milestone of its ten millionth new energy vehicle.

BYD Auto

Established in January 2003 by BYD's founder Wang Chuanfu following the acquisition of Xi'an Qinchuan Automobile, BYD Auto specializes in the production of passenger battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), collectively referred to as new energy vehicles (NEVs). The company also manufactures electric buses and trucks. Beyond its primary BYD brand, it owns three luxury marques—Denza, Fangchengbao, and Yangwang—which cater to the premium segment.

The inaugural model from BYD Auto, the BYD F3, debuted in 2005. The firm introduced its first plug-in hybrid vehicle, the BYD F3DM, in 2008, followed by its initial BEV, the BYD e6, in 2009. Production of internal combustion engine vehicles was discontinued in March 2022. From 2023 onward, BYD Auto has ranked as China's top automobile manufacturer by yearly sales.

By 2025, BYD Auto has established nine principal vehicle manufacturing facilities within China, alongside additional plants located in Uzbekistan and Thailand. New factories are under development in Indonesia, Brazil, Hungary, and Turkey. The company’s production capacity within China reached 5.82 million units annually by 2024.

The automotive division constitutes the largest portion of BYD’s revenue streams. In 2024, revenue from automotive and related products accounted for approximately , representing 79% of the company’s total income.

BYD Electronics

BYD Electronic (International) Company Limited focuses on producing handset components and assembling mobile phones as an OEM and ODM. Founded as a BYD subsidiary in 2002, it went public on the Hong Kong Stock Exchange in 2007.

Its manufacturing operations extend internationally to sites including Cluj-Napoca, Romania; Komárom, Hungary (acquired in 2008); and Chennai, India. Within China, production bases are located in Huizhou, Tianjin, and Shenzhen’s Longgang District.

BYD Electronics employs a "one-site mode supplier" approach that integrates product design, manufacturing, testing, assembly, and post-sales support. Prominent customers have included Nokia, Motorola, and Samsung. As of 2021, it produces the majority of mobile phones for Huawei.

Since 2020, BYD Electronics has served as an OEM for Apple's iPad, manufacturing these devices at its facility in Phú Thọ province, Vietnam. This factory initially had an annual output capacity of 4.32 million tablets along with 50 million optical prism components. Plans to commence iPad production in India were abandoned due to geopolitical restrictions.

In August 2023, BYD agreed to acquire several Chinese manufacturing plants from U.S.-based Jabil, thereby broadening its role within Apple’s supply chain. In May 2024, BYD Electronics was added to Hong Kong's prestigious Hang Seng Index. By July 2024, both BYD and Luxshare Precision became suppliers for the iPhone 16 after certain iPhone production shifted back from India to China amid quality concerns.

BYD Semiconductor

Founded in 2020 as a successor to BYD's IC Design Department (originally established in 2002), BYD Semiconductor Co., Ltd. designs and manufactures semiconductor products including integrated circuits, insulated gate bipolar transistor modules, light emitting diodes, and single-chip solutions. Although an initial public offering (IPO) was planned, it was withdrawn in November 2022 to prioritize expanding wafer fabrication capabilities.

BYD Forklift

Established in 2009 with its headquarters in Zhenjiang, Shaoguan, BYD Forklift specializes in the design and manufacture of electric forklifts, towing vehicles, and automated guided vehicles. The company boasts an annual production capability of 30,000 units and commenced forklift sales in 2014.

FinDreams

FinDreams () is a brand under BYD, created in March 2020 to consolidate four automotive supplier enterprises spun off to boost component sales to external car manufacturers. The brand encompasses FinDreams Battery, FinDreams Powertrain, FinDreams Technology, and FinDreams Precision; however, the FinDreams Vision project was discontinued. The name 'Fudi' embodies principles such as integrity, reliability, perseverance, and hard work.

FinDreams Battery

FinDreams Battery Co., Ltd., officially registered on 5 May 2019 as the successor to BYD Lithium Battery Co. Ltd. (founded in 1998), manufactures batteries for consumer electronics, electric vehicles, and energy storage applications. Its focus lies on lithium iron phosphate (LFP) batteries, including the innovative proprietary blade battery. By November 2021, it operated 15 significant manufacturing facilities spread over more than ten Chinese cities. As of December 2024, FinDreams Battery ranked as the world’s second-largest producer of electric vehicle batteries after CATL.

Major automakers utilizing FinDreams’ LFP batteries include Tesla, Toyota, Kia, Ford, Suzuki, KG Mobility, Chery, Xiaomi, XPeng, Nio, FAW, JAC, Dongfeng Nissan, and Hozon/Neta.

In early 2022, FinDreams entered a joint venture with FAW Group named FAW-FinDreams, where BYD holds a majority stake of 51%. This facility is located in Changchun, Jilin province, with a production capacity of 45 GWh. It began operations in September 2023 following its initial battery pack rollout in July.

In June 2023, FinDreams partnered with Huaihai Holding Group to establish the world’s largest sodium-ion battery supplier. Construction commenced in January 2024 on a CN¥10 billion (US$1.4 billion) factory designed to produce 30 GWh annually.

By February 2024, FinDreams secured an eight-year supply and intellectual property contract with American automotive supplier BorgWarner. This agreement includes blade cell production for LFP battery packs distributed across Europe, the Americas, and the Asia Pacific region.

By March 2024, FinDreams became an approved cell supplier for Tesla’s energy storage systems at the Shanghai Megafactory. It is projected to supply approximately 20% of cells used in Tesla’s Megapack starting from the first quarter of 2025.

BYD Energy Storage

FinDreams Battery holds ownership of Shenzhen BYD Energy Storage Co., Ltd. (previously Shenzhen Pingshan FinDreams Battery Co., Ltd.), which produces energy storage solutions. The company manufactures the BYD Home Energy System (BYD HES), a comprehensive package that integrates solar panels, batteries, and inverters for efficient solar power generation and storage.

In February 2025, BYD Energy Storage secured a significant contract with Saudi Electricity Company to deliver 12.5 GWh of energy storage capacity, marking a major advancement in large-scale grid battery deployments.

FinDreams Powertrain

FinDreams Powertrain Co., Ltd. is engaged in the design and production of engines as well as powertrain parts, encompassing transmissions, axles, electric vehicle platforms, and plug-in hybrid systems.

FinDreams Technology

FinDreams Technology Co., Ltd. manufactures automotive electronic components and chassis parts for passenger vehicles, commercial trucks, and rail transit systems. Their range of products covers vehicle thermal management solutions, wiring harnesses, intelligent cockpits, advanced driver-assistance systems (ADAS), passive safety components, braking mechanisms, suspension systems, exhaust assemblies, body control units, steering components, and various body accessories.

FinDreams Precision

FinDreams Precision Co., Ltd., previously known as FinDreams Molding, focuses on the production and research of moulding technologies.

RIDE Mobility

RIDE represents BYD’s American subsidiary dedicated to transit solutions throughout the United States and Canada. Established in 2023 under the initial name BYD | RIDE, it has received recognition for pioneering school bus designs. Operating from the former BYD Coach & Bus plant located in Lancaster, California, RIDE manufactures Type A, C, and D school buses alongside transit buses and trucks. The facility employs roughly 500 unionized American workers affiliated with the SMART Union. RIDE’s battery-electric school buses have been introduced in Oakland, California through collaboration with ZUM.

SkyRail monorail

BYD has implemented monorail networks across various global locations such as Guang'an and Guilin Metros in China, São Paulo’s Line 17 in Brazil, and SkyRail Bahia also in Brazil. The company participates in a consortium awarded a pre-development contract for a monorail project connecting San Fernando Valley to Los Angeles International Airport via Sepulveda Pass.

SkyShuttle

BYD provides an Automated Guideway Transit (AGT) solution known as "SkyShuttle" (). Unlike monorails that use guiding wheels on a single beam, SkyShuttle vehicles operate autonomously on dual-beam tracks powered by batteries. This system was developed internally over seven years with an investment exceeding 1.5 billion USD. The SkyShuttle is currently deployed in installations like the Bishan SkyShuttle line in Chongqing.

Workforce

BYD’s employee base grew significantly from 288,000 in 2021 to 570,000 in 2022 following the addition of 280,000 new hires that year. This expansion positioned BYD as China’s largest private employer, second only to major state-owned corporations such as China National Petroleum Corporation and State Grid Corporation of China. By the conclusion of 2023, BYD’s workforce had reached 704,000 employees after recruiting an additional 133,000 staff members. This figure nearly doubles Toyota’s workforce of approximately 375,000 employees. In 2024 alone, BYD onboarded close to 200,000 new personnel in vehicle manufacturing and component production sectors, culminating in a total workforce of 968,900 by December.

2021 employee sudden death

On November 5, 2021, a 36-year-old worker at BYD was discovered deceased at his rented residence. Family members suggested that excessive overtime may have contributed to the sudden death; however, no autopsy was conducted to confirm the cause. BYD provided a one-time financial settlement to the employee’s family.

Research and development

BYD has notably escalated its commitment to developing essential components, underscoring a robust dedication to innovation. In 2021, the company allocated , accompanied by a 12.9% increase in R&D personnel, totaling 40,382 staff members. Patent applications saw a 19.7% year-over-year rise in 2020, reaching 29,777 filings.

The R&D budget more than doubled in 2022, reaching . By 2023, BYD’s investment in research and development climbed to , accounting for 6% of its operating revenue. That same year, the R&D team expanded by 33,000 employees to a total of 102,000, with a majority (60%) under the age of 30. The average yearly remuneration for R&D workers was around .

Supply chain

Originating as a battery manufacturer in 1995 and entering the automotive industry with BYD Auto in 2003, BYD developed a vertically integrated supply chain system. Capitalizing on China’s cost-effective labor market, BYD transitioned power battery production from capital-intensive to labor-intensive methods, boosting cost efficiency and supply chain control. The company pioneered technology allowing mobile phone batteries to be produced at ambient temperatures, eliminating the need for expensive heated dry rooms and thereby reducing expenses.

When venturing into vehicle manufacturing, BYD constructed a comprehensive supply chain by reverse engineering competitors’ products and their supplier components. This approach enabled mastery over critical electric vehicle parts such as batteries, motors, and electronic control systems. The resulting vertical integration fortified its industrial network and provided resilience against global disruptions like semiconductor shortages.

In 2020, BYD expanded into semiconductor research by launching BYD Semiconductor to independently develop core automotive chips alongside the DiLink intelligent platform. Additionally, from late 2019 onward, BYD established FinDreams subsidiaries specializing in power batteries, automotive lighting systems, electronics, powertrains, and molding technologies.

Early in 2020, BYD restructured its components division into independent FinDreams subsidiaries to supply parts to other automakers and improve operational agility.

Facilities

BYD’s manufacturing footprint includes several production hubs: three facilities in Shenzhen (one situated on 'BYD Road' within Pingshan District, Shenzhen), plus locations in Huizhou, Shanxi, and Shanghai. The company inaugurated its initial Indian factory in Chennai.

The automotive division operates an extensive plant network throughout China with wholly owned and subsidiary factories. Major sites include the Xi’an facility in Xi'an, Shaanxi, capable of producing 900,000 vehicles annually, and the Hefei plant in Changfeng, Hefei, Anhui, with an annual capacity of 1.32 million units. Other significant factories are located in Changsha, Hunan, Shenzhen, Guangdong, Changzhou, Jiangsu, Zhengzhou, Henan, and Jinan, Shandong, manufacturing passenger cars alongside vital components such as engines, traction motors, and battery packs. Dedicated plants focus on electric buses (in Dalian, Guilin, Wuhan) and commercial trucks. As of 2024, BYD’s total vehicle production capacity within China stands at 5.82 million units. Globally, manufacturing operations extend to Thailand, Indonesia, Uzbekistan, Brazil, Hungary, and Turkey.

Beyond automobiles, BYD runs a Bloomberg New Energy Finance Tier 1 photovoltaic module factory in Beijing, research centers and an emerging assembly line in Shenzhen, plus an R&D hub located in Shanghai. A facility dedicated to its proprietary blade battery—recognized for superior EV safety—was inaugurated in Chongqing in 2020.

In Brazil, BYD established its first electric bus manufacturing plant in 2015 followed by photovoltaic module factories. A lithium iron phosphate battery plant opened in Manaus in 2020 to support electric bus production. Planned expansions include vehicle assembly locations at Campinas and Camaçari—with the latter aiming for an annual output of 150,000 passenger vehicles by 2025.

Production facilities across Southeast Asia are under development in Cambodia, Indonesia, and Thailand with capacities ranging from 10,000 to 150,000 vehicles per year. In Europe, BYD operates electric bus assembly plants in Komarom, Hungary and Beauvais, France. Passenger car manufacturing sites are planned for Szeged (Hungary) by 2026 and Manisa (Turkey).

In North America, BYD has maintained an electric bus factory near Los Angeles since 2014 and opened a bus assembly facility in Newmarket, Ontario in 2019 to serve Canadian customers.

Business trends

The following table presents a summary of BYD's principal financial and operational indicators for the fiscal years ending 31 December:

Year	Revenue (CN¥ bn)	Net income (CN¥ bn)	Revenue composition		Employees (thousands)	Passenger cars sold (units in 10,000s)	Source
			Automotive	Non-automotive
2016	100	5.0	55%	45%		510
2017	102	4.0	53%	47%	201	421
2018	130	2.7	59%	41%	221	528
2019	127	1.6	49%	51%	229	468
2020	156	4.2	53%	47%	224	431
2021	216	3.0	60%	40%	418	749
2022	424	16.6	77%	23%	570	1,882
2023	602	30.0	80%	20%	703	3,024
2024	777	40.3	79%	21%	969	4,272

This information illustrates BYD's swift expansion in revenue, workforce growth, and rising passenger vehicle sales, emphasizing its strategic emphasis on electric vehicles and associated sectors. The automotive division has consistently contributed around 79–80% of total revenue in recent periods, highlighting BYD's leading role within the electric vehicle market.

Management

Key members of senior leadership include:Executive director

• Wang Chuanfu, chairman and president

Non-executive directors

• Lu Xiangyang, co-founder and vice chairman
• Xia Zuoquan

Independent non-executive directors

• Cai Hongping
• Zhang Min
• Yu Ling

Supervisory Board

• Li Yongzhao
• Zhu Aiyun
• Wang Zhen
• Huang Jiangfeng
• Tang Mei

Senior management

• Li Ke (Stella Li), executive vice president and president of BYD America
• He Zhiqi, executive vice president, chief operating officer of BYD Passenger Car Division, and director of Shenzhen Denza New Energy Automotive
• He Long, executive vice president and chairman of FinDreams Battery
• Luo Hongbin, senior vice president and chairman of Shenzhen BYD Auto Industrial as well as FinDreams Powertrain
• Zhou Yalin, senior vice president and chief financial officer of BYD and BYD Electronic (International), director of BYD Semiconductor, chairman of BYD Auto Finance and Shenzhen BYD Property Insurance
• Yang Dongsheng, senior vice president
• Liu Huanming, vice president
• Wang Chuanfang, vice president
• Ren Lin, vice president
• Zhao Jianping, vice president
• Luo Zhongliang, vice president and chairman of FinDreams Technology
• Li Wei, officer in the President’s Office
• Li Qian, company secretary and board secretary, also director of BYD Semiconductor

Recognition

In 2010, BYD achieved the top position on Bloomberg Businessweek’s Tech 100 list highlighting rapidly growing technology companies and was ranked eighth among the world’s most innovative firms by BusinessWeek. That same year, Fast Company placed BYD at number 16 on its list of most innovative companies. In 2016, the company earned the Zayed Future Energy Prize for Large Corporations due to its cutting-edge rechargeable battery technologies. The following year, PV Magazine awarded BYD its premier innovation accolade for a novel battery storage system noted for outstanding modular design, charging/discharging capabilities, and operational efficiency.

2006–2012 Foxconn conflicts

In June 2006, Shenzhen Futaihong Precision Industry and Hong Fu Jin Precision Industry, subsidiaries of Foxconn Technology Group, initiated legal action against BYD at the Shenzhen intermediate people's court. Foxconn accused former staff members Liu and Si, who had joined BYD’s mobile phone design division, of misappropriating trade secrets, demanding compensation amounting to 5 million yuan.

The case was escalated to the Supreme People's Court, which designated the Beijing JZSC Intellectual Property Forensic Center to conduct an evaluation. Their investigation revealed that 68 out of 116 files from Foxconn contained confidential information, which Foxconn claimed involved essential production, assembly, and testing techniques. Additionally, Foxconn highlighted that over 400 ex-employees—including senior engineers and managers trained in Europe at Foxconn’s expense—had transitioned to BYD. This employee migration coincided with BYD’s swift expansion in mobile manufacturing and alleged leakage of proprietary knowledge.

By June 2007, Foxconn had filed further lawsuits in Hong Kong and Illinois, accusing BYD of recruiting 50 employees unlawfully and misappropriating trade secrets to establish a rival cell phone manufacturing business. These legal disputes delayed BYD Electronics’ initial public offering on the Hong Kong Stock Exchange; their first application lapsed, and a subsequent attempt was postponed by six months due to ongoing litigation.

In 2008, the Shenzhen Baoan People’s Court determined that the files contained confidential information with commercial value and ruled that BYD had infringed on trade secrets. Following this judgment, Foxconn withdrew its civil claims within mainland China and pursued criminal charges instead. On 20 March 2008, BYD’s former executive director and Vice President were detained; two ex-Foxconn employees were also arrested and received prison sentences.

In October 2009, BYD filed a counterclaim in Hong Kong courts accusing Foxconn of defamation, bribery of officials, and intimidation tactics. In 2012, the Hong Kong High Court dismissed Foxconn’s appeals while expressing skepticism about BYD’s counterclaims. BYD denied all theft accusations and alleged that Foxconn had coerced false confessions and manipulated evidence.

In the United States

On 27 April 2020, BYD retained attorney Charles Harder and lodged a federal defamation lawsuit in the U.S. District Court for the Southern District of New York against Vice Media over a report linking BYD to entities purportedly exploiting forced Uyghur labor within its supply chain. The lawsuit was dismissed with prejudice in March 2021; this dismissal was upheld by the U.S. Court of Appeals for the Second Circuit, and the U.S. Supreme Court declined to review the case.

In November 2020, BYD initiated a libel action against the non-profit organization Alliance for American Manufacturing (AAM) and certain employees for branding BYD as a Chinese state entity connected to Uyghur forced labor. The U.S. District Court for the District of Columbia dismissed this suit; this ruling was affirmed by the U.S. Court of Appeals and later upheld by the Supreme Court in August 2022.

In 2022, the United States Department of Commerce concluded that BYD evaded tariffs on solar panels by channeling operations through Southeast Asia. In August 2023, the Department issued a final ruling confirming this tariff evasion.

The National Defense Authorization Act for Fiscal Year 2024 included provisions to prohibit U.S. defense funding for batteries produced by BYD due to national security concerns. Following this, in January 2024, the U.S. government announced it would ban Pentagon procurement of batteries manufactured by both BYD and China’s CATL.