If you answered no to the questions above, I’m talking about BYD the biggest car brand you’ve never heard of. Most importantly, the fact that the U.S. mass public has not heard of BYD presents a HUGE investment opportunity for the few that have and act quickly to invest ahead of BYD’s recent planned expansion into the U.S. and North American market.
In 2002, BYD acquired Tsinchuan Automobile Co. and a year later BYD Automobile Co. was born. BYD’s breakthrough battery technology is an iron phosphate chemical mix that the company says is safer than those made of lithium that sometimes can catch fire if punctured. BYD is the largest manufacturer of all-electric vehicles in the world and has sold more electric vehicles than Tesla, Nissan, or GM. Last year BYD sold 61,722 autos beating Tesla Motors Inc.’s sale of 50,580 vehicles, GM sold 15,393 Volts, and Nissan sold just over 50,000 Leafs.
- 2008 – BYD makes its U.S. debut at the Detroit Auto Show
- 2008 – Warren Buffett purchases 10% of BYD, the most he was allowed to buy.
- 2010 – The 25 Most Innovative Companies 2010 (Ranked 8th) by Business Week
- 2010 – Global Technology 100 (Ranked 1st) by Business Week
- 2011 – China’s Most Admired Companies (Ranked 7th with a Ranking of 1st in auto sector) by Fortune Magazine
- 2013 – Best Crash Test Facility of the Year by Automotive Testing Technology International
In 2013, BYD quietly entered the U.S. auto market. BYD chose to build their manufacturing headquarters for North America in Lancaster, CA. Their primary focus here in the U.S. has been supplying all-electric buses to transit agencies. Last year, the Department of Transportation in Washington held a bid for proposal for up to 800 electric buses in 12 different categories, BYD was awarded the contract in 10 of those 12 categories. The Antelope Valley Transit Authority (AVTA) recently awarded a contract for 85 buses to BYD, AVTA has a goal of replacing their entire fleet and becoming the first all-electric transit agency in America. To name a few, transit agencies in Los Angeles, Long Beach, Gardena, Stanford University, Denver, and St. Albert in western Canada have also purchased all-electric buses from BYD. BYD is the world’s largest supplier of all-electric buses and is on track to deliver this year 300 buses in the U.S. and 6,000 buses worldwide.
As part of a city incentive, BYD is on track to meeting certain milestones this year that will allow them to acquire 12.5 acres to expand their facility absolutely free from the City of Lancaster. The state of California has also awarded a $3 million incentive to BYD provided they hire up to 625 employees and invest $51 million into their facilities by 2018.