BYD registers Zhengzhou-based subsidiary for NEV, auto parts sales

Shanghai (Gasgoo)- Chinese automaker BYD recently established in Zhengzhou, the capital of Henan Province, a subsidiary whose business scope covers sales of new energy vehicles (NEVs), according to the business information provider Tianyancha.

The new company, named Zhengzhou BYD Auto Co.,Ltd. (called “Zhengzhou BYD” for short), was founded on September 22. It involves a registered capital of 50 million yuan ($7.732 million) and is wholly controlled by BYD Auto Industry Co.,Ltd. He Zhiqi, Chairman and General Manager of BYD Auto, serves as the legal representative of the Zhengzhou-based subsidiary.

According to Tianyancha, Zhengzhou BYD has a line of business including the manufacturing of auto parts, the sales of NEVs, as well as the R&D, retail and wholesale of auto parts.

In August, BYD Auto saw its insurance registrations of new energy vehicles (hereby merely referring to BEVs, PHEVs, and REEVs) reach 50,480 units, accounting for 22% of China's total locally-made NEV registrations, according to the China Banking and Insurance Regulatory Commission (CBIRC). This volume made BYD ranked highest among China's auto brands in terms of China-made NEV registrations.  

In Zhengzhou, the registrations of BYD-branded NEVs stood at 741 units last month, according to the CBIRC's data. The best-selling NEV model for the city was the BYD Tang DM, whose registrations were 159 units.

In addition, BYD Auto Industry Co.,Ltd. set up a Hefei-based wholly-owned subsidiary in July, whose business scope extends to cover the sales of NEVs and NEV-related electrical accessories, the R&D of auto parts, the wholesale and retail of auto components.