SHENZHEN, July 6 — The story of Wang Chuanfu begins not in a boardroom but in a chemistry lab. Born in 1966 in Wuwei, Anhui, China, Wang is a chemist by training who went on to build BYD — Build Your Dreams — from a rechargeable battery maker into the world’s largest electric vehicle company. At its heart, Wang’s journey is one of vertical integration and relentless control.
He founded BYD in 1995, focusing on nickel-cadmium and lithium-ion batteries. The company became the world’s largest manufacturer of those batteries before Wang made a bold leap into the auto industry in 2003, acquiring Qinchuan Auto.
Wang, who holds a PhD in physical chemistry from Central South University, bet on his core expertise. BYD launched its first plug-in hybrid, the F3DM, in 2008, followed by its first battery electric vehicle, the e6, in 2009. The turning point came in 2022.
That year, BYD sold 1.86 million new energy vehicles — NEVs — surpassing Tesla to become the global leader in EV sales. The company now also produces buses, trucks, monorails, and batteries for other automakers.
Wang’s net worth is estimated at over $15 billion. What sets Wang apart is his focus on making most components in-house. BYD’s Blade Battery, introduced in 2020, uses LFP chemistry — lithium iron phosphate — and is considered safer than traditional lithium-ion batteries.
The company’s rise has been anything but quiet. Wang, now serving as CEO and chairman, has positioned his company as a one-stop supplier — from batteries to buses to the monorails that could reshape urban transit. What unfolds next for Wang and BYD will depend on how the company navigates trade tensions and growing competition.
For now, the chemist from Anhui has built a company that doesn’t just make cars — it builds the batteries, the buses, and the vision of an electric future.
