BYD earlier this month announced the launch of the FinDreams sub-brand which will be applied to the company's in house core components for clean energy vehicles, according to local reports.
The sub-brand will be applied to five main BYD component manufacturing subsidiaries which will be renamed FinDreams Vision, FinDreams Technology, FinDreams Moduling, FinDreams Battery and FinDreams Powertrain, all involved in the manufacture of different types of auto parts.
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The company said it aimed to establish FinDreams as a major global automotive component brand for clean energy vehicles with the five subsidiaries to be given more autonomy and flexibility to help serve global customers and establish overseas partnerships and technology exchanges.
While sales of electric vehicles in China declined sharply last year, sales remained strong in Europe and BYD is keen to target this additional demand.
In recent years BYD has also significantly increased exports of battery powered passenger vehicles and public transport vehicles globally and they are now driven in 20 European countries as well as in the Americas, Africa and across Asia.
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By GlobalData
