# Who are BYD's customers? Who does BYD earn revenue from?
Canonical: https://valuechain.wiki/byd · Facet: customers · Updated: 2026-07-12T03:36:23.636+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: BYD's confirmed revenue counterparties include Tesla, BYD Electronics, 샤오미 (핀드림스 LFP) plus 3 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 6 revenue edges, backed by 8 dated sources, 2 of them primary filings (as of 2026-07-12).

### BYD 자체 EV (캡티브) (high)
- metric: volume 4,602,436 NEVs · 2025 · BYD NEV sales
- note: Most battery output is consumed captively in its own NEVs (4.6M units in 2025). External-supply ratio rose from ~15% to ~35% during 2024, but captive use dominates.
- [confirms] CnEVPost (EN, news, published 2026-03-27) https://cnevpost.com/2026/03/27/byd-2025-full-year-results/: "Throughout 2025, BYD sold 4,602,436 NEVs, a year-on-year increase of 7.73%"
- [confirms] HKEX (EN, filing, published 2025-10-30) https://www.hkexnews.hk/listedco/listconews/sehk/2025/1030/2025103001667.pdf: "automobiles, automobile-related products and other products ... battery business"

### Tesla (high)  → /tesla.md
- metric: capacity 8 GWh/yr · 2025~ · Tesla ESS LFP cell supply (~RMB 3.5bn order)
- note: FinDreams supplies LFP cells for Tesla's Shanghai Megafactory (40 GWh/yr) — up to 8 GWh/yr, ~RMB 3.5bn order value, >20% of Megapack orders, deliveries from Q1 2025.
- [confirms] OFweek Energy Storage (ZH, news, published 2024-06-06) https://chuneng.ofweek.com/news/2024-06/ART-180226-8120-30636961.html: "BYD FinDreams secures Tesla energy-storage battery order"
- [confirms] CnEVPost (EN, news, published 2024-06-05) https://cnevpost.com/2024/06/05/byd-findreams-to-supply-battery-cells-to-tesla-megafactory/: "an annual supply of up to 8 GWh from FinDreams and an annual order value of up to RMB 3.5 billion ($480 million)"

### BYD일렉트로닉스 (high)  → /byd-electronics.md
- note: Supplies batteries, parts and materials to subsidiary BYD Electronics — an in-group source for its electronics and energy products.
- [confirms] BYD Electronic (International) (EN, filing, published 2026-04-22) https://www.hkexnews.hk/listedco/listconews/sehk/2026/0422/2026042200748.pdf: "See counterpart edge source."

### 샤오미 (핀드림스 LFP) (high)  → /xiaomi.md
- note: FinDreams sells LFP batteries for Xiaomi's SU7 and YU7.
- [confirms] CnEVPost (EN, news, published 2024-05-27) https://cnevpost.com/2024/05/27/xiaomi-su7-standard-gets-random-catl-byd-batteries/: "SU7 uses FinDreams LFP cells."

### FAW (FAW-FinDreams JV) (mid)
- metric: capacity 45 GWh · JV · FAW-FinDreams JV plant (RMB 13.5bn)
- note: BYD and FAW formed a JV battery plant (FAW-FinDreams) with RMB 13.5bn investment and 45 GWh capacity, producing Blade packs.
- [confirms] China Battery Network (ZH, news, published 2024-06-01) http://m.cbea.com/djgc/202406/118970.html: "FAW-FinDreams Battery Co ... total investment RMB 13.5bn, total capacity 45 GWh"

### Toyota (bZ3, BTET JV) (mid)
- note: Via the BYD-Toyota EV Technology JV (BTET), BYD supplies Blade LFP batteries and FinDreams motors to the co-developed Toyota bZ3 sedan.
- [confirms] Toyota Global Newsroom (EN, ir, published 2020-04-02) https://global.toyota/en/newsroom/corporate/32126024.html: "joint venture ... to conduct battery electric vehicle R&D"

Reverse side: https://valuechain.wiki/byd/suppliers.md · Ripple: https://valuechain.wiki/byd/ripple.md

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Full node: https://valuechain.wiki/byd.md · JSON: https://valuechain.wiki/byd.json