BYD Cars
BYD Cars

BYD, short for Build Your Dreams, began in 1995 as a battery manufacturer in Shenzhen. Today, it is one of the world's largest electric vehicle producers and a growing force across Europe. In July 2025 alone, BYD sold 13,503 cars across the UK, EU, and EFTA, more than triple its sales from the same month last year.

Meanwhile, Tesla sold just 8,837 cars during that period, a 40% drop from July 2024. BYD now holds 1.2% of the market share in Europe, while Tesla's has slipped to 0.8%. The shift marks a significant turning point in the ongoing competition between Chinese and American electric vehicle makers.

From Batteries to Global Auto Leader

Founded by Wang Chuanfu with £272,000 (approximately $355,000) in start-up capital, BYD focused first on rechargeable batteries for phones and laptops. It became a major supplier for companies like Motorola, Philips and Panasonic by the late 1990s. By 2002, BYD overtook Sanyo to become the largest nickel–cadmium battery producer in the world.

In 2003, BYD entered the automotive industry by acquiring Xi'an Qinchuan Automobile. It launched its first plug-in hybrid in 2008, followed by a full battery electric model in 2009. Sales were modest for over a decade, but from 2020, demand for new energy vehicles surged, particularly in China, fuelling BYD's growth.

BYD's Car Tech and Models

BYD produces passenger vehicles under multiple brands, including Denza and Yangwang, in addition to its namesake line. Its Blade Battery, launched in 2020, is known for safety and structural strength. The company's e-Platform 3.0 is designed to improve energy efficiency, range, and cost.

It offers both battery electric vehicles (BEVs) and plug-in hybrids (PHEVs), powered by DM-i (focused on fuel savings) and DM-p (performance-based) systems. BYD maintains full control of its supply chain, producing many components in-house under its FinDreams division. This vertical integration helps lower costs and increase output speed.

BYD in Europe and the UK

BYD's recent growth in Europe has been supported by its competitive pricing and expanding dealership presence. Most of its vehicles fall below the £37,000 (approximately $48,200) threshold, making them eligible for subsidies under the UK government's electric car grant scheme. Models like the Dolphin and Seal are priced to compete directly with similar Tesla and Volkswagen offerings.

While Tesla has refreshed the Model Y, BYD's rising sales show strong momentum. It has overtaken Tesla in monthly sales across Europe and is on track to further expand its presence in the UK, Germany, and France.

Global Reach and Workforce Scale

BYD now employs over 900,000 people globally, including more than 100,000 in research and development. Its operations extend into solar panels, semiconductors, electric buses, and even rail systems. In 2024, it became the second-largest electric vehicle battery producer in the world, trailing only CATL.

The company filed over 13,000 patents between 2003 and 2023 and ranked 10th globally for trademark applications in 2024. Its rise has been built on low-cost manufacturing, aggressive innovation, and strategic global expansion.

Market Shifts and Future Competition

Across the EU, hybrid-electric vehicles remain more popular than pure electrics, with 2.25 million sold in the first seven months of 2025. However, over 1 million fully electric vehicles have also been registered, signalling continued growth for companies like BYD.

With the European market increasingly price-sensitive and focused on efficiency, BYD's approach is proving effective. As new models arrive and infrastructure expands, the company is expected to further challenge long-established rivals.

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