Do we like BYD?
Chinese maker of electric and hybrid cars, batteries and buses, based in Shenzhen, China
Our score: 4 out of 10. Big and innovative in EVs, but the forced-labour findings in Brazil and the allegations in Hungary make us cautious. We wouldn't back them yet.
BYD was founded in 1995 as a battery maker by Wang Chuanfu. He is still chairman, president and CEO, and he is the largest single shareholder with about 17%. It is founder-led and not state-owned. Berkshire Hathaway, famously an early backer, has sold out completely.
Today it is China's biggest carmaker. Bloomberg reported its October sales rose for a sixth straight month because exports made up for weak demand at home. In Europe it overtook Tesla in registrations in the first half of 2026, and a lot of that growth came from plug-in hybrids.
The big black mark is how workers are treated. In December 2024, Brazilian labour inspectors found 163 Chinese workers in slave-like conditions while building BYD's Camaçari factory. In April 2026, Agência Brasil reported that BYD was added to Brazil's forced-labour list. Inspectors said it bore direct responsibility.
Hungary may be a repeat. China Labor Watch, a New York nonprofit, accused subcontractors at BYD's Szeged plant of excessive hours, wage delays and debt bondage. Local officials are looking into the report. BYD didn't reply to The World's request for comment. These are allegations, not findings.
Politics adds to the risk. The EU found that Chinese subsidies distorted competition and put extra duties on BYD's electric cars. In June 2026 the Pentagon put BYD on its list of Chinese military companies, and BYD denies any link. Good tech, but the labour record holds our score down.