The company was founded by Wang Chuanfu in February 1995 as a battery manufacturing company. BYD's largest subsidiary, BYD Auto, was founded in 2003 and has grown to become the world's largest manufacturer of plug-in electric vehicles.[13] Since 2009, BYD's automotive business has contributed over 50% of its revenue. By 2023, it contributed over 80% of the company's total revenue.[14][15]
BYD has been the privately owned company with the largest workforce in China since 2022, ranking only below several state-owned companies. As of 2024[update], BYD employs 704,000 people, of which 102,000 are research and development (R&D) employees.[20] It also leads by patent applications, by filing over 13,000 patents between 2003 and 2023.[21]
^定焦One (25 October 2023). "比亚迪"膨胀":如何管好60万人?-36氪" [BYD's "expansion": How to manage 600,000 people?]. 36kr.com. Archived from the original on 24 December 2023. Retrieved 24 December 2023.
^"【图】增长42.04% 比亚迪2023年营收6023.15亿_汽车之家" [Growth of 42.04%, BYD’s revenue in 2023 is 602.315 billion]. www.autohome.com.cn. Archived from the original on 27 March 2024. Retrieved 27 March 2024.
^"当下的比亚迪,能不能代表中国汽车?" [Can current BYD represent Chinese automobiles?]. Sina Finance. 19 August 2023. Archived from the original on 4 January 2024. Retrieved 25 December 2023.
^"中国第一大民企诞生,坐拥60万员工-36氪" [China's largest private enterprise was born, with 600,000 employees]. 36kr.com. 21 December 2023. Archived from the original on 15 June 2024. Retrieved 15 June 2024.