(Staff post from ENGINEERING & SCIENCE's FACEBOOK on 20 November 2025.)
From a small farming village in China, Wang
Chuanfu’s journey to building BYD, the world’s leading electric vehicle
company, is nothing short of remarkable.
Orphaned at a young age and raised by his siblings,
Wang began his career with limited resources and just 20 employees. Despite
these challenges, his vision and determination drove him to create a company
that would revolutionize the automotive and energy industries.
BYD started by focusing on battery technology, gradually expanding into electric cars, buses, and renewable energy solutions. Wang’s innovative mindset and relentless pursuit of excellence transformed BYD into a global powerhouse, attracting attention from investors worldwide, including Warren Buffett. The company didn’t just produce vehicles; it created an entire ecosystem for clean mobility and sustainable energy, setting new standards for the industry.
Over the years, BYD’s breakthroughs have reshaped
the way people think about electric vehicles and energy storage. From
developing high-performance batteries to producing affordable electric cars and
buses, the company continues to push boundaries.
Today, BYD stands as a symbol of innovation,
resilience, and the transformative power of technology, proving that even the
humblest beginnings can lead to world-changing achievements. Wang Chuanfu’s
story inspires millions, showing that vision, courage, and persistence can
create a lasting legacy.
BYD's story is a journey from a battery
manufacturer to the world's largest producer of new energy vehicles, founded by
Wang Chuanfu in 1995 in Shenzhen, China. The company initially focused on
rechargeable batteries for mobile phones before acquiring a car factory in 2002
and expanding into the automotive industry, ultimately leading to its dominance
in the EV market.
The name "BYD" stands for "Build
Your Dreams," a slogan adopted in 2008, though the company's name
originated from an abbreviation of the road where it was first located.
Early history: From batteries to diversification
1995: Founded by Wang Chuanfu, BYD starts as a
rechargeable battery manufacturer.
1996: The company begins manufacturing lithium-ion
batteries.
2000: BYD becomes a major supplier of lithium-ion
batteries to brands like Motorola and Nokia.
2002: BYD acquires Qinchuan Automobile, a small
Chinese car factory, marking its entry into the automotive sector.
Automotive expansion and EV leadership
2003: The automotive division, BYD Auto, is
established, and it later debuts its first mass-produced car, the F3.
2008: BYD launches the F3DM, China's first
mass-produced plug-in hybrid vehicle.
Since 2009: The company's automotive business
becomes its largest revenue source, surpassing 50% of its income and growing to
over 80% by 2023.
Recent years: BYD has become the world's largest
producer of plug-in electric vehicles, expanding its global presence in over 70
countries.
Strategic growth and key factors
Vertical integration: BYD's strategy of controlling
its supply chain, including components like semiconductors, gave it an
advantage during the 2021 chip shortage and allowed for greater flexibility and
rapid design iteration.
Government support: Support from the Chinese
government has been a significant factor in BYD's growth.
Adaptability: During the COVID-19 pandemic, BYD
temporarily repurposed its factories to become a major producer of N95 masks,
generating significant revenue and helping to keep its factories operational.
