BYD, Tesla’s chief rival, now makes products for Apple, too
Apple’s CEO Tim Cook met BYD chief Wang Chuanfu earlier this year: report
Chinese electric vehicle (EV) maker BYD is doing more than just making cars — it’s also assembling over 30 per cent of Apple’s iPads, according to The Wall Street Journal.
BYD, which employs more than 10,000 engineers and 100,000 workers for Apple-related production, has been working with the tech giant since 2009.
EVs and iPads: Surprising similarities
While it may seem unusual for a car company to assemble tablets, both industries rely on software, batteries, and chips.
Modern cars are loaded with smart features, making them more like smartphones on wheels. BYD also partners with Huawei to develop EV software and phones, highlighting this growing overlap.
Humble beginnings
BYD (short for "Build Your Dreams") was founded in 1995 by Wang Chuanfu, a Chinese chemist and metallurgist. Initially, the company focused on producing rechargeable batteries for mobile devices.
BYD quickly became a major supplier of small batteries and later expanded into lithium-ion batteries, supplying well-known brands of laptops, cell phones, and consumer electronics.
Expanding into autos
In 2002, BYD took a bold step by acquiring a struggling Chinese car manufacturer, signaling its entry into the automotive industry. Just three years later, in 2005, BYD launched its first car, the F3 model, which became a hit in China, selling over 1 million units.
This success laid the foundation for BYD’s expansion into electric vehicles (EVs), making it a key player in the global EV market today.
BYD's expertise in battery technology gave it a competitive edge in developing EVs, and it continues to innovate in both the tech and automotive sectors.
BYD’s bold moves
Known for its affordable and stylish EVs, BYD is targeting Tesla’s market share. In the last quarter of 2023, BYD sold 526,409 all-electric cars, while Tesla sold 484,507. This was the first time BYD outpaced Tesla in battery-only sales.
Warren Buffett’s investment in BYD has drawn attention as the company continues to expand its influence in both the EV and tech spaces. Apple’s CEO Tim Cook even met with BYD’s chairman earlier this year to discuss iPad production.
In October, Bloomberg revealed that Apple and BYD collaborated on long-range EV batteries, influencing BYD’s current car technology.
While Apple has paused plans to make its own car, its partnership with BYD shows its ongoing interest in the EV market.