BYD Semiconductor is the chip arm of BYD Co. focused on producing insulated gate bipolar transistors (IGBTs), a critical silicon switch for EV power management and other high-energy uses like air conditioners and high-speed trains. The unit is described as the only Chinese company able to produce IGBTs independently and competes with global suppliers such as Infineon. BYD hived the subsidiary off into an independent company ahead of a planned separate public listing. The business has attracted strategic and financial backers and benefits from the scale and backing of parent BYD, a Shenzhen-headquartered automaker supported by Warren Buffett. The subsidiary closed a 1.9 billion yuan Series A in late May and an additional 800 million yuan Series A+, lifting its valuation to 10.2 billion yuan with BYD retaining a 72.3% stake. Market research cited in the article forecasts the global IGBT market to grow from near 10 billion yuan in 2020 to almost 40 billion yuan by 2025, underpinning growth prospects.

Total raised

$113M

Funding rounds

1

Latest round

Series A

Latest activity

Jun 2020