BYD’s US$14.4m Boonray investment: haul truck implications for mine planners
Reviewed by Tom Sullivan

First reported on International Mining – News
30 Second Briefing
BYD has made a RMB100 million (about US$14.4 million) strategic investment in Shanghai-headquartered Boonray Technology, a leading Chinese supplier of electric and autonomous mining trucks and control systems. The deal strengthens BYD’s position in heavy-duty battery and drivetrain supply while giving Boonray additional capital to scale autonomous haulage fleets in large open-pit operations. For mine planners and fleet engineers, the move signals continued acceleration of Chinese-made battery-electric haul trucks and autonomy stacks as alternatives to diesel fleets from traditional OEMs.
Technical Brief
- BYD’s cash injection totals RMB100 million, equivalent to approximately US$14.4 million at current rates.
- Funding is directed to Shanghai-headquartered Boonray Technology, focused on “new energy” mining equipment solutions.
- Boonray’s portfolio centres on electric mining trucks and autonomous control systems for haulage operations.
- The investment is framed by Boonray as support for expanding its global new-energy mining footprint.
Our Take
BYD’s backing of Boonray Technology follows its deployment of large-scale Blade Battery-based storage with Fortescue in the Pilbara, signalling that BYD is building a vertically integrated mining offering that spans both fixed storage and mobile haulage platforms.
In our database of 807 Mining stories, BYD appears relatively rarely compared with traditional mining OEMs, so this financing move into Chinese autonomous haul trucks positions it as a more direct competitor to established Western and Japanese equipment suppliers in mine electrification.
Because the deal is structured as financing rather than an offtake or JV, Boonray retains optionality to work with multiple miners and integrators in China, which could accelerate standard-setting for electric and autonomous truck platforms in that market.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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