Low-End Ladder to High-End Mastery

“BYD started by manufacturing nickel-cadmium batteries for mobile phones. It has moved from nickel-cadmium batteries to nickel-metal hydride batteries, and then to lithium batteries, following a development path from low-end to high-end.”

“The BYD Miracle In February 1995, BYD Company was established with a registered capital of 2.5 million yuan and about 20 employees. In 1997, the company began to produce its own developed lithium-ion batteries and quickly went into mass production. In December 1998, it passed ISO9001 certification. In the same year, BYD Company began to develop overseas with an international perspective, and its European subsidiary was established. In 1999, it developed the industry-leading high-current discharge battery at the time, and the annual production of nickel-cadmium batteries reached 150 million. In 2002, it became Nokia's first Chinese lithium-ion battery supplier. In July 2002, it was listed on the Hong Kong main board, setting a record for the highest issue price of H shares at the time. On January 22, 2003, BYD Company acquired Xi'an Qin Chuan Automobile Co., Ltd., and established BYD Auto Co., Ltd. In 2006, BYD Auto completed a cumulative sales volume of 63,153 vehicles, a year-on-year increase of 472%, becoming the fastest-growing domestic brand automotive company in the world. In January 2007, the monthly sales volume of BYD F3 broke through 10,000 units. This was the first time that a local brand entered the "Ten Thousand Club" with a single model, ranking alongside Elantra, Excelle, and Forman as the "Big Four Kings" of the medium sedan market in China.”