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Most Innovative Companies

BYD

The World's Most Innovative Companies 2018

The biggest electric vehicle manufacturer in the world isn't Tesla, but the Chinese company BYD (or "Build Your Dreams"). The company began as a battery manufacturer--and that expertise led it to electric cars and trucks, which depend on battery cost and performance. When the company's hometown of Shenzhen decided to switch to an all-electric bus fleet, it turned to BYD for the majority of the buses, and the company is also facilitating a switch to electric taxis. In China, where the government plans to phase out gas- and diesel-powered cars, and new electric cars get subsidies and other perks, BYD continues to quickly grow. But the company is also selling vehicles around the world--and hopes to become the first Chinese automaker to be a truly global brand. 

Data
headquarters: Shenzhen, China
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