BYD To Become An EV Parts Supplier Under FinDreams Brand
BYD launches FinDreams sub-brand – an automotive parts supplier to OEMs.
BYD’s new Balde Battery is not the only news from the Chinese manufacturer, as the company is gearing up for the major transformation to become an automotive parts supplier too.
Years of EV production (over 750,000 were sold cumulatively) and ongoing vertical introduction, including battery cells, packs, electric motors, power electronics as well as other systems, enables BYD to expand its business. In today’s world, with the coronavirus outbreak, it might be also a necessity, as New Energy Vehicle sales were highly affected in China.
BYD decided to create an independent new sub-brand FinDreams with five subsidiaries:
“BYD will open its technology and products to the whole world. FinDreams units will help change the role participants in Chinese auto industry play in the global new energy arena.”
In the past, BYD was working with Daimler on a joint Denza brand, but up to date, it was on a quite small scale. The new partnership, announced in Summer 2019, is with Toyota.
BYD ensures that it is already in talks with many other automotive manufacturers, which basically means even fiercer competition among parts suppliers.
We guess that one of the major components, in which other manufacturers will be interested, is the new BYD Blade Batteries.
More about the FinDreams directly from BYD:
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