Lifetime of Achievement: Wang Chuanfu, Founder & CEO of BYD
The electric vehicle (EV) market and the manufacturing arms behind it are dominated by big names including Tesla and Mercedes. But one of the biggest and most impactful names in this arena is BYD, headed up by Founder, Chairman and CEO Wang Chuanfu.
The chemist and billionaire entrepreneur leads the multinational conglomerate manufacturing company, which is made up of a number of major subsidiaries, including BYD Auto, a passenger battery EV and plug-in hybrid EVs — collectively known as new energy vehicles in China — and BYD Electronics, which produces electronic parts and assembly.
Few names shine as brightly as Chuanfu’s when it comes to the world of automotive and manufacturing innovation. Under his visionary leadership, BYD has grown from a small battery manufacturer into a global EV powerhouse, as well as a leader in renewable energy solutions.
An extraordinary career
Since the founding of BYD in 1995 and BYD Auto eight years later, they have had a transformative impact on the manufacturing and automotive industries as they both navigate through a time of unprecedented pressure and change.
Chuanfu has shaped and grown BYD from a Chinese underdog to market leader, soaring above the industry household names like Tesla. BYD is now the world’s best-selling EV manufacturer, all achieved with Chuanfu at the helm within a decade.
In Q4 of 2023, BYD sold a record 526,000 battery-only EVs, topping Tesla’s 484,000.
For Chuanfu, it all started in one of China’s poorest provinces. Orphaned as a teen, he was raised by his older siblings. His bright and critical, engineering-driven mind shone through and the high achiever made it to college, despite the odds stacked against him.
Chuanfu is a graduate of Physical Chemistry of Metallurgy, Central South University of Technology with a Master's in Materials from Beijing General Research Institute of Nonferrous Metals.
His 35-year engineering-driven career has seen him become Vice-Chairman of his Beijing alma mater alongside his roles heading up BYD and its subsidiaries, leveraging his expertise in battery technology.
Transforming multiple markets worldwide
An engineer by training, the former professor is also reshaping the battery supply chain.
Speaking in 2008 before BYD’s upward surge in popularity and market profile, Chuanfu shared how he hoped his company would be the world’s largest by 2025. Just over 15 years later, BYD was be a dominating force in the EV market.
“For new-energy cars, we believe we can become the global leader,” he says. “From the technology standpoint, 10 years should be enough.
“I believe Chinese companies can become leaders in the alternative car business because we make good batteries.”
This came after he proudly professed BYD was, at the time, the only battery maker to never have had a recall, unlike other industry titans like Sanyo and Sony, saying: “We’re very confident of the quality of the batteries.”
Competing against established Japanese and Korean battery manufacturers, BYD — as seen in the insight from Chuanfu at the time — faced scepticism along with financial constraints. But, thanks to BYD’s leader’s relentless pursuit of innovation, the hard work paid off.
Chuanfu has also been quoted comparing automobiles to “super mobile phones with legs”, which encompasses the smart nature of BYD’s vehicle offerings and underscores Chuanfu’s belief that the intelligent transformation of vehicles can accelerate the construction of smart cities.
Pushing for adoption of cleaner technologies
It’s clear from Chuanfu’s tenacity and relentless pursuit of success that his and BYD’s prosperity have significantly influenced the global automotive and manufacturing industries. Advancements in EV spearheaded by Chuanfu and BYD have set new benchmarks, which are pushing other manufacturers to innovate and adopt cleaner technologies themselves, benefitting the market, economy and wider world.
BYD’s integrated approach of combining battery manufacturing with vehicle production gives the company a competitive edge and has inspired industry-wide changes, with the majority of this attributable to the man who started it all.
Thanks to Chuanfu’s leadership — characterised by his unwavering dedication, innovative thinking and a hands-on approach — BYD’s commitment to research and development continues to drive technological progress, solidifying the company’s position as a leader in the transition to sustainable transportation with battery manufacturing at the heart.
To read the full story in the magazine click HERE
**************
Make sure you check out the latest edition of Manufacturing Digital and also sign up to our global conference series - Procurement & Supply Chain 2024 & Sustainability LIVE 2024
******
Manufacturing Digital is a BizClik brand
