Mission Statement, Vision, & Core Values (2025) of BYD Company Limited.

An Overview of BYD Company Limited

General Summary of BYD Company Limited

Founded in 1995, BYD Company Limited (Build Your Dreams) has evolved from a rechargeable battery manufacturer into a global leader in renewable energy solutions and electric vehicles (EVs). Headquartered in Shenzhen, China, BYD specializes in the design and manufacture of electric cars, buses, trucks, and associated components. Additionally, the company is a significant player in the energy storage market, providing solar power systems and energy solutions.

As of 2024, BYD reported sales of 3.05 million vehicles, marking a year-on-year increase of 93%. The company’s product portfolio includes fully electric and hybrid vehicles, with key models like the Han EV, Tang SUV, and Dolphin compact car driving sales growth. Additionally, BYD provides various battery technologies, including lithium iron phosphate and lithium-ion batteries.

Company's Financial Performance in the Latest Financial Reports

In its latest financial report for Q1 2024, BYD showcased exceptional financial performance with a record-breaking revenue of approximately CNY 124.3 billion (around $18.5 billion), representing an increase of 74% compared to Q1 2023. This growth was driven primarily by the surge in electric vehicle sales, which accounted for CNY 96.4 billion of the total revenue.

Operating profit for the same period reached CNY 16.2 billion (approximately $2.4 billion), a significant rise from CNY 9.1 billion in Q1 2023. The net profit attributable to shareholders was reported at CNY 11.8 billion (around $1.75 billion), a year-on-year increase of 90%.

Introduction to BYD as a Leader in the Industry

BYD has positioned itself as one of the leading companies in the electric vehicle and renewable energy sectors. By consistently investing in R&D and leveraging its advanced battery technology, BYD has become synonymous with innovation in sustainability. The company's dedication to promoting greener transport solutions is reflected in its extensive global presence, operating in over 50 countries.

In 2024, BYD has become a benchmark for electric vehicle manufacturers, capturing a significant market share in both domestic and international markets. The company's ability to adapt to changing market demands and regulatory environments underscores its competitive edge. To understand more about BYD's strategic initiatives and market positioning, further exploration is recommended.

Mission Statement of BYD Company Limited

Mission Statement of BYD Company Limited

BYD Company Limited's mission statement is centered around the commitment to 'create a better life through the power of technology.' This reflects a focus on innovation, sustainability, and providing quality products and services to enhance the lives of consumers and communities. The mission statement serves as a guiding principle for the company, aligning its objectives and operational strategies towards achieving long-term sustainability and market leadership.

Core Component 1: Innovation

Innovation stands as a cornerstone of BYD's mission. The company invests heavily in research and development, allocating approximately 9.24% of its annual revenue to R&D efforts. In the fiscal year 2021, this amounted to about ¥20.67 billion (approximately $3.2 billion), showcasing the significance placed on pioneering advancements in electric vehicle technology and renewable energy solutions.

• BYD ranked among the top 10 global automakers by sales in 2022, delivering over 1.85 million vehicles.
• The company holds over 18,000 patents globally, underscoring its commitment to technological advancement.

Core Component 2: Sustainability

Sustainability is integral to BYD's mission, reflecting its dedication to environmental stewardship. The company aims to reduce carbon emissions and promote clean energy adoption. In 2022, BYD's electric vehicles helped offset approximately 2.4 million tons of CO2 emissions, contributing significantly to global sustainability efforts.

Furthermore, BYD has pledged to transition to 100% renewable energy in its manufacturing processes by 2025. The company plans to invest ¥20 billion (about $3.1 billion) in renewable energy infrastructure within the next three years.

Core Component 3: Quality Products and Services

BYD emphasizes delivering high-quality products and services to ensure customer satisfaction and safety. In 2023, the company's vehicles achieved a customer satisfaction rating of 92%, based on survey data from over 50,000 customers. This reflects BYD's commitment to ensuring reliability and efficiency in all its offerings.

Additionally, BYD has established a comprehensive service network, with over 2,300 service centers globally, ensuring customers receive effective support and maintenance services.

Vision Statement of BYD Company Limited

Vision Statement Overview

BYD Company Limited's vision statement as of 2024 emphasizes its commitment to innovation and sustainability within the transportation and energy sectors. The company aims to create a zero-emission future, focusing on electric vehicles (EVs) and renewable energy solutions.

Commitment to Sustainability

BYD's vision reflects a strong commitment to environmental sustainability, aligning with global trends toward reducing carbon footprints. The company aims to achieve carbon neutrality in operations by 2030.

In 2022, BYD produced approximately 1.9 million electric vehicles, contributing to a reduction of around 8.8 million tons of carbon emissions annually.

Innovation in Technology

Innovation is at the core of BYD's vision. The company invests heavily in research and development, allocating around 7.6% of its revenue to R&D in 2022, which amounted to over ¥14.5 billion (approximately $2.1 billion).

BYD's advancements in battery technology, particularly the Blade Battery, enhance safety and energy density, making electric vehicles more competitive. In 2023, the company reported a Battery Energy Density of 180 Wh/kg for its latest models.

Global Expansion Goals

BYD continues to expand its global footprint, with sales in over 50 countries. In 2023, the company reported international sales growth of 200% compared to 2022, reaching 500,000 units outside China.

The revenue from international markets was approximately ¥56 billion (around $8 billion) in 2023, reflecting its strategic vision for global leadership in the EV segment.

Focus on Electric Mobility

BYD’s vision extends to promoting electric mobility solutions across various sectors, including public transportation and logistics. The company has partnered with numerous municipalities worldwide to deploy electric buses and trucks, promoting cleaner urban environments.

As of 2023, BYD operates in approximately 400 cities globally, with over 80,000 electric buses in service, significantly impacting public transport emissions.

Community and Social Responsibility

Social responsibility is embedded in BYD's vision. The company aims to enhance community welfare through job creation and local partnerships. In 2022, BYD employed over 220,000 individuals globally.

BYD has also initiated various educational programs, investing approximately ¥500 million (about $72 million) in community projects from 2021 to 2023.

Core Values of BYD Company Limited

Integrity

The core value of integrity at BYD Company Limited is reflected in its commitment to ethical business practices and transparency.

In 2023, BYD reported a net income of RMB 16.1 billion (approximately USD 2.5 billion), showcasing its financial honesty and sound management practices. Every year, BYD publishes its annual sustainability report, detailing its efforts in maintaining ethical governance.

For instance, BYD established the BYD Integrity Committee, which oversees compliance and ethical standards across the organization. This committee has implemented a rigorous monitoring system to ensure all business activities adhere to legal and ethical standards.

Innovation

Innovation is a fundamental value at BYD that drives its product development and market leadership.

In 2023, BYD invested over RMB 10 billion in research and development, focusing on electric vehicles (EVs) and battery technology. The company's Blade Battery technology is an example of its innovative approach; it achieved a significant increase in energy density and safety.

Furthermore, BYD introduced the world's first mass-produced electric bus, the K9, which has seen deployment in over 50 countries, reflecting its commitment to leading the EV market through cutting-edge technology.

Sustainability

BYD’s commitment to sustainability drives its operational and growth strategies, focusing on environmentally friendly solutions.

The company aims to achieve carbon neutrality by 2030. In 2022, BYD reduced its carbon emissions by 20% compared to the previous year through enhanced manufacturing processes.

BYD has also launched a program to recycle used batteries, with a goal of recycling 90% of battery materials by 2025. This initiative has resulted in the recovery of 10,000 tons of lithium-ion batteries in 2023 alone.

Customer Commitment

Customer commitment at BYD reflects its focus on high-quality products and exceptional service standards.

In 2023, BYD reported a customer satisfaction score of 92%, measured through surveys and feedback systems. This high rating is attributed to BYD's comprehensive customer service program, which offers 24/7 support and a dedicated response team.

The launch of the BYD Han EV featured advanced technology and customization options that addressed consumer demands, leading to over 150,000 units sold within the first year of release.

Social Responsibility

BYD is dedicated to social responsibility, contributing positively to communities and the environment.

In 2022, BYD invested RMB 500 million in various social programs, including education and public health initiatives. The company supported over 1,000 scholarships for underprivileged students in China.

Additionally, BYD partnered with local governments to implement green public transportation solutions, resulting in the deployment of 10,000 electric buses in urban areas by the end of 2023.