BYD prepares for higher sales

BYD’s car brands will operate independently.

It is restructuring its organisation in preparation for sales growth, CnEVPost reports, quoting media outlet 36kr.

Several separate divisions are planned within BYD’s research and development engineering institute to cover product line-ups such as Dynasty, Ocean and Denza.

The BYD Atto 3 has won many awards in New Zealand and globally.

“All of BYD’s sub-brands will have a separate engineering institute, the report said, citing a source.”

Research and development, operations and product development for all BYD brands are done at BYD’s engineering institute, and now, in addition to research and development continuing in that department, sub-brands’ projects, operations and products will be handled by independent engineering institutes, according to the report.

The organisational restructuring started at the beginning of 2023, and key positions in each brand’s research institute are now in place, it adds.

The heads of BYD’s Dynasty and Ocean series’ research institutes are the directors of their respective models, and the Denza research head is the brand’s former chief executive Wang Fengyi, the report says.

It adds that BYD has two automotive research and development departments — the engineering institute and the planning one – the former responsible for vehicle engineering technology, model projects and operations, and the latter like a technology provider responsible for DM-i hybrid technology, intelligent cockpit and intelligent driving R&D.

BYD’s full-year 2020 NEV sales were 189,689 units, growing to 603,783 in 2021 – a 218.3% rise, then sales accelerated in 2022 to 100,000 units a month in March when BYD said it had stopped internal combustion engine (ICE) production.

BYD’s new energy vehicle (NEV) sales were 1,863,494 units in the full year 2022, up 208.64% year-on-year.