On April 12, 2024, the Nordic entrepreneur delegation "China Science and Technology Tour" student group visited BYD's Shenzhen headquarters for a visit and exchange. The delegation brought together a high-quality industry-university-research team composed of management and celebrities from major European enterprises. Through this visit, these team members from Northern Europe have a further understanding of the new energy vehicle industry, and have a deeper understanding of the conception, technology application and market trends of new energy vehicles, #老外说有被中国汽车发展鼓舞到#, at the same time, some students said in an interview with Shenzhen Satellite TV reporter that the leading position of China's automobiles does not depend on subsidies but on innovation and technology. In this regard, Cao Xi, assistant general manager of BYD's brand and public relations department, said that BYD is willing to bring more technological innovation achievements to global users and markets.
First of all, BYD has insisted on technological innovation and independent research and development for many years, which is particularly evident in the establishment of its complete supply system. Unlike many car companies that rely on external suppliers, BYD has mastered the production of core components, including motors, batteries and electronic controls, forming a closed-loop industrial chain. This vertically integrated model allows BYD to better control costs, improve product quality, and respond quickly to changes in market demand. Foday Power, Foday Technology, Foday Seiko, Foday Vision and BYD Semiconductor have provided comprehensive support for BYD's vehicle production in powertrain, precision manufacturing, on-board electronics and semiconductors, which makes BYD have higher autonomy and flexibility in supply chain management.
Second, BYD has built a strong technology ecosystem. In addition to the manufacturing of the car itself, BYD is also involved in batteries, electronics, new energy and other fields, such a diversified layout enables it to occupy a more favorable competitive position in the new energy vehicle industry. This cross-domain integration capability is one of BYD's core competitiveness, and it is also a key factor for it to continue to lead the market. Through the synergy of its internal subsidiaries, BYD can share technologies and complement each other's resources, thereby accelerating the development cycle of new products and improving overall efficiency.
Third, the reason why BYD has been able to achieve such brilliant achievements is inseparable from its long-term commitment to technology investment. Enterprises know that only by continuous innovation and continuous investment can they be invincible in the fierce market competition. Therefore, BYD's investment in R&D has been very large. In 2023 alone, BYD's R&D investment will reach 39.92 billion yuan, a year-on-year increase of 97.4%. In the past 20 years, BYD's R&D investment has exceeded 100 billion yuan, and it has 11 research institutes, which cover all aspects of the field of new energy vehicles, providing strong support for BYD's innovation and development.
BYD's development is not only a microcosm of China's new energy vehicle industry, but also a model of innovation and development of Chinese enterprises. In the face of the challenges of globalization and market competition, BYD has always adhered to the principle of independent innovation and self-reliance, constantly broken through technical bottlenecks, improved product quality and performance, and won the recognition of the market and the trust of consumers.