BYD’s new Fudi subsidiary works on import & export businesses

Shanghai (Gasgoo)- BYD recently founded Fudi Industry Co.,Ltd., a new subsidiary under Fudi, through which BYD intends to sell batteries and electric components to other automakers.

Photo credit: BYD

Established on Dec. 11, 2020, Fudi Industry involves a registered capital of 500 million yuan ($76,388,350) and is wholly controlled by BYD Company Limited, according to the corporate data platform Tianyancha. Its business scope extends to cover the import and export of goods and technologies, the production and sale of batteries as well as the development of AI-enabled application software.

BYD announced in March the establishment of five subsidiaries under Fudi, in a bid to boost the sale of core parts related to new energy vehicles (NEVs) to other carmakers.

The five subsidiaries focus on different products and technologies. Registered in May 2019, Fudi Battery Co.,Ltd is the inheritance of BYD Lithium Battery which was born in 1998. According to a press release, the predecessor specializes in developing such products as consumable 3C batteries, power batteries and energy storage batteries, and works on their cascade utilization. As for the new materials and new technologies, it has also completed the R&D of many technical projects involving fields like IT, automobile, new energy and light rail transit.

The other four subsidiaries focus on batteries, visual technologies, automotive electronic and chassis products, power solutions, and auto moulds respectively.

Fudi Industry might be set up for BYD's export plan, according to its business scope.

Unlike the enclosed vertical integration for other OEMs, the Fudi companies offer components to both its parent BYD and other carmakers, which currently include Great Wall Motor, Changan Auto, Dongfeng Motor, Chery Auto, NIO and Xpeng Motors.