What is BYD? Chinese Tesla rival explained

BYD, or BYD Auto Co Ltd, if you want to use its full title, is a Chinese car company founded in 2003 and based in Xi'an, Shaanxi Province, which makes a range of electric vehicles, plug-in hybrid vehicles and petrol engine vehicles, as well as buses, trucks, electric bicycles, forklifts and rechargeable batteries.

Besides the thought of dealing with his son X Æ A-12 after his first day at school, BYD is the thing most likely to make Elon Musk break into a cold sweat: it’s tipped to hit a market cap of 1.5 trillion yuan in 2022, meaning it could become a major EV manufacturer in the world within nipping distance of Tesla’s heels. 

Although he may be loath to admit it - any man who names his range of models ’S,3,X,Y’ is likely wants to appear as the alpha male at all times - the BYD company is in many ways everything that Tesla wants to be: a diversified EV and electrification company. 

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Whereas Tesla entered the game by producing EVs and then announcing plans to diversify into other segments, BYD has done the complete opposite: years ago it started as a battery manufacturer, supplying product to other industries like mobile phones, and it has since moved on to producing solar panels, large-scale battery projects and electrified vehicles, including cars, buses and trucks. 

BYD is already bringing in the bucks from different markets, whereas 90 per cent of Tesla’s revenue currently comes solely from EV sales. 

Adding to the sting are current rumours that Tesla has had to strike a 10GWh deal with BYD, which translates to 200,000 50kWh batteries a year.

While BYD sells most of its vehicles in China at the moment - it had the second-highest sale figures for electrified vehicles there between January and October 2021 - it has ventured into Europe, with its Tang EV already a top-seller in Norway. 

What does BYD stand for? 

The slightly Disney-ish “Build Your Dreams”. If being the third largest automaker in the world by market capitalisation ($US133.49 billion) behind Toyota and Tesla was BYD’s dream, then there’ll be plenty of enthusiastic high-fiving going on at BYD HQ in 2021. 

Who owns BYD?

BYD Automobile and BYD Electronic are the two major subsidiaries of the Chinese multinational BYD Co Ltd.

Warren Buffett, BYD: what’s the link? 

American business magnate Warren Buffet - worth a tidy $US105.2 billion as of November 2021 - is the CEO of American multinational conglomerate holding company Berkshire Hathaway, which owns 24.6 per cent of BYD, making it the company’s second largest shareholder. 

Will BYD be coming to Australia? 

Yes. BYD have big plans for Down Under, with two models already on the market: the T3 all-electric two-seater van, and the E6 small wagon EV. 

Via local importer Nextport, BYD plans to have six models in Australia by the end of 2023, including the fully electric Yuan Plus SUV, an unnamed muscle-car performance vehicle, the Dolphin EV city car, and an EV ute intent on knocking the Toyota HiLux from its perch.

Nextport have also announced plans for a $700 million facility in the Southern Highlands of NSW, which will house an R&D centre and may even potentially start producing electric cars and buses in the future.

BYD car price

BYD has said that three of the six cars it has lined up for the Australian market will be around the $35-$40k mark, making them the cheapest EVs in the country, undercutting former champion the MG ZS EV, which goes for $44,990. 

TrueGreen Mobility has partnered with BYD in Australia to launch a “direct to consumer” online sales platform, which takes dealers out of the sales process - a move that can cut as much as 30 per cent off of a vehicle’s retail price. 

BYD cars in Australia

BYD T3

Price: $39,950, plus on-road costs 

A commercial compact van aimed at fleets and urban delivery businesses, this all-electric two-seater has usurped the MG ZS EV as the cheapest EV in Australia. The T3 has around 300 kilometres of range and a 700kg cargo capacity. 

BYD E6

Price: $39,999, plus on-road costs 

This small wagon comes with a big range - around 520km from a 71.7kWh battery - and a single 70kW/180Nm front-mounted electric motor. 

BYD cars coming to Australia in 2022

BYD Dolphin

Price: TBC 

This small hatch boasts an impressive range of over 400km, as well as a rumoured asking price that’s even more impressive: under $40k. Known as the EA1 abroad, but given a more Seaworld-friendly name here, expect it to hit the Australia in mid-2022.

BYD Yuan Plus 

Price: TBC 

With a 150kW/310Nm electric motor and a lithium-ion battery that offers approximately 400km of range - as well as a rumoured price around $40k - expect the Yuan Plus to significantly shake up the local compact SUV market.