Financial Skin, Technology Bones

In 2003, BYD officially acquired Shaanxi Qinchuan Automobile Co., Ltd., Formed BYD Auto, entered the field of automobile manufacturing and sales, and began the development journey of national independent brand automobiles. BYD Auto adheres to the development model of independent research and development, independent brands, and independent development. It takes "making world-class cars" as its product goal and "building a national world-class automobile brand" as its industrial goal, and is determined to revitalize the national automobile industry. At present, BYD has built four major industrial bases in Xi'an, Beijing, Shenzhen and Shanghai. It has reached the international leading level in vehicle manufacturing, mold development, model research and development, etc., And its industrial structure is gradually improving. BYD Auto has built a first-class R&D center in Shanghai, has an automobile R&D team of more than 3,000 people, and obtains more than 500 national R&D patents every year. A world-leading sedan production line has been built in Xi'an, with a total production capacity of 200,000 vehicles. A modern automobile city will be built in Shenzhen, with a total production capacity of 300,000 vehicles, and a second R&D center will be built, which will become BYD Auto's production base for mid- to high-end cars. The Beijing Mold Manufacturing Center has formed a professional and large-scale mold industry pattern, manufacturing vehicle molds for world-renowned automobile brands. In 2006, BYD Group achieved sales revenue of 12.9 Billion yuan, a year-on-year increase of 101%; the automobile industry achieved impressive results. The main model F3 achieved sales of 63,153 units, a year-on-year increase of 472%, and achieved sales revenue of nearly 5 billion yuan. F3 has also exported more than 5,000 vehicles, with its products covering 16 countries and regions.