Electric cars: Chinese world number one BYD made record profit in 2023. The world's leading manufacturer in the electrical segment posted a profit of 30.04 billion yuan (3.83 billion euros) last year, up 80.7% year-on-year.
BYD was founded in 1995 in Shenzhen, a metropolis in southern China where many technology groups (Huawei, Tencent, etc.) have their headquarters. The company, initially specialized in the design and manufacture of batteries, diversified into automobiles from 2003.