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BYD Company Ltd

Electric VehiclesFounded 1995
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

BYD Acquisitions

3

Major Deals Covered

$2.0B

Disclosed Deal Value

What are BYD's biggest acquisitions?

BYD's largest disclosed acquisition here is Jabil mobile electronics manufacturing business (China) for $2B in 2023. This page covers 3 major deals from 2003 to 2024, each with its price where disclosed and the reason behind it.

Major deals covered
3
Largest deal
Jabil mobile electronics manufacturing business (China) ($2B)
First deal
2003
Most recent
2024
CompanyYearPricePurpose
Xi'an Qinchuan Automobile2003$32.0MBYD bought a controlling stake in Xi'an Qinchuan Automobile, a small state-owned carmaker, for about $37.4 million (CN¥269 million) to get a vehicle production licence, a factory and an engineering team. Without it, BYD would have faced years of regulatory barriers before it could make passenger cars in China.
Jabil mobile electronics manufacturing business (China)2023$2.0BBYD Electronic agreed in August 2023 to buy Jabil's mobile electronics manufacturing operations in Chengdu and Wuxi for CN¥15.8 billion (about $2.2 billion), to add smartphone component customers and products.
Denza (remaining stake from Mercedes-Benz)2024UndisclosedDenza started in 2010 as a 50:50 joint venture between BYD and Daimler. BYD raised its stake to 90% under a December 2021 restructuring and bought Mercedes-Benz's last 10% in July 2024. Terms were not disclosed.
What companies has BYD bought?
Major acquisitions by BYD documented here include Jabil mobile electronics manufacturing business (China) (2023), Xi'an Qinchuan Automobile (2003) and Denza (remaining stake from Mercedes-Benz) (2024).
What is BYD's most recent acquisition?
The most recent BYD acquisition documented here is Denza (remaining stake from Mercedes-Benz), in 2024.

Denza (remaining stake from Mercedes-Benz)

2024

Why

Denza started in 2010 as a 50:50 joint venture between BYD and Daimler. BYD raised its stake to 90% under a December 2021 restructuring and bought Mercedes-Benz's last 10% in July 2024. Terms were not disclosed.

Impact

Full ownership gave BYD sole control of its premium brand, which sells the D9 multipurpose vehicle and the Z9 GT and leads BYD's premium push in Europe with FLASH charging models.

Outcome

Mercedes-Benz confirmed in September 2024 that it no longer holds any shares in Denza and that BYD is the sole shareholder.

Source →

Jabil mobile electronics manufacturing business (China)

2023

$2.0B

Why

BYD Electronic agreed in August 2023 to buy Jabil's mobile electronics manufacturing operations in Chengdu and Wuxi for CN¥15.8 billion (about $2.2 billion), to add smartphone component customers and products.

Impact

The deal closed in December 2023 at about CN¥14.29 billion (about $2.01 billion) after adjustments for cash, debt and working capital, making BYD Electronic one of the largest Chinese suppliers in premium smartphone component manufacturing.

Outcome

The acquired plants are part of BYD's mobile handset components and assembly segment, which reported ~$21.6 billion (CN¥155.2 billion) of revenue in FY2025.

Source →

Xi'an Qinchuan Automobile

2003

$32M

Why

BYD bought a controlling stake in Xi'an Qinchuan Automobile, a small state-owned carmaker, for about $37.4 million (CN¥269 million) to get a vehicle production licence, a factory and an engineering team. Without it, BYD would have faced years of regulatory barriers before it could make passenger cars in China.

Impact

The deal turned BYD from a battery supplier into a carmaker. Qinchuan's Flyer was BYD's first car, and the F3 sedan launched in 2005 became one of China's best-selling models.

Outcome

Xi'an grew into one of BYD's largest vehicle bases, with annual capacity of about 900,000 vehicles, and the in-house car engineering that began there underpins BYD's current EV lineup.

Source →

BYD Company Ltd's Growth & Acquisition Strategy

BYD's growth plan has three parts. First, build locally abroad: plants in Thailand, Uzbekistan and Camaçari, Brazil are producing cars, Hungary is due to start series production in the fourth quarter of 2026, and a Turkish plant was paused in June 2026 while BYD concentrates on Europe. Second, move upmarket through Denza, Fangchengbao and Yangwang, which sell at higher prices than core BYD models. Third, use technology launches, such as the second-generation Blade Battery and FLASH charging in March 2026, to keep its Chinese lineup ahead of rivals in a price war.

How BYD Company Ltd Makes Money

BYD earns most of its revenue by designing, building and selling passenger cars under the BYD (Dynasty and Ocean series), Denza, Fangchengbao and Yangwang brands, along with buses, trucks, batteries and energy storage systems. Its automobiles and related products segment produced ~$90.2 billion (CN¥648.6 billion) in FY2025, about 81% of group revenue. The second segment, mobile handset components and assembly, is run mainly through Hong Kong-listed BYD Electronic and brought in ~$21.6 billion (CN¥155.2 billion) (about 19%) by making and assembling phones, tablets and other devices for outside brands. The margin model rests on vertical integration: FinDreams subsidiaries make battery cells, powertrains and other parts for BYD's own cars and can also sell to other automakers, so BYD keeps supplier margins that most rivals pay away. The mix is now moving abroad: overseas revenue reached ~$25.2 billion (CN¥181.3 billion) in the first half of 2026, 52.6% of the total.

BYD Acquisitions FAQ

When did BYD acquire state-owned automaker Qinchuan Automobile in 2003?

In January 2003, BYD acquired a 77% controlling stake in state-owned automaker Xi'an Qinchuan Automobile for RMB 269 million ($32 million), securing a coveted national automobile manufacturing license and laying the foundation for BYD Auto.

What were the details of BYD Electronic's $2.2 billion acquisition of Jabil Mobility in 2023?

BYD Electronic agreed in August 2023 to buy Jabil's mobile electronics manufacturing operations in Chengdu and Wuxi for CN¥15.8 billion (about $2.2 billion). The deal closed in December 2023 at about CN¥14.29 billion (about $2.01 billion) after adjustments.

How did BYD build its own semiconductor business?

BYD bought a chip fab in Ningbo in 2008, which became the base of its IGBT power-chip business. The unit was reorganized as BYD Semiconductor in 2020 and makes chips used in BYD's electric drivetrains.

What did BYD take over in Camaçari, Brazil?

In 2023 BYD agreed with the Bahia state government to take over the former Ford factory complex in Camaçari and convert it into its largest plant outside Asia, which now builds cars for Brazil and other Latin American markets.

Has BYD bought lithium mines?

BYD has acquired lithium mineral rights covering 852 hectares in Brazil's Jequitinhonha Valley and works with suppliers on refining, but it dropped a plan for lithium cathode plants in Chile after lithium prices fell.

What joint venture did BYD establish with Mercedes-Benz for Denza?

BYD and Daimler formed Denza in 2010 as a 50:50 joint venture. BYD raised its stake to 90% under a December 2021 restructuring and bought Mercedes-Benz's last 10% in July 2024, making Denza wholly owned.

What electric vehicle joint venture did BYD form with Toyota in 2020?

In April 2020, BYD and Toyota Motor Corporation established BYD Toyota EV Technology Co., Ltd. (BTET) in Shenzhen, co-developing battery electric sedans (such as the Toyota bZ3) powered by BYD's Blade Battery and e-motors.

How does BYD approach strategic corporate M&A?

BYD focuses on acquisitions that secure upstream mineral assets (lithium), critical technology licenses (semiconductors), or prime overseas manufacturing facilities (Ford Brazil, Jabil), avoiding expensive brand acquisitions in favor of building its own internal brands.

How did BYD start making cars?

In 2003, BYD executed a highly controversial acquisition of Tsinchuan Automobile, a failing state-owned car manufacturer, which gave BYD the legal license and factory needed to immediately begin building cars.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.