BYD, China's largest automotive company by market capitalization, has announced full production of new energy vehicles. It began with battery production in 1995 and entered the automotive market in 2003 with the acquisition of Qinchuan Automotive. It is now a major supplier of electric vehicles and power batteries in the China market by selling its own brand of passenger cars and commercial vehicles. The company's market capitalization exceeded CNY 1 trillion in June 2022 and its global sales of new energy vehicles exceeded that of Tesla in the first half of the year. BYD not only sells electric vehicles and power batteries, but also has its own drive motors and electronic control technologies. In addition, BYD's subsidiary, BYD Semiconductor, provides power semiconductors such as IGBTs and SiC MOSFETs, and automotive electronic components such as sensors, MCUs and LED light sources.