Wang Chuanfu

Under founder and chief executive Wang Chuanfu’s leadership, BYD's advancements in battery technology have positioned the Chinese automaker as a global electric vehicle (EV) champion, showcasing the company’s engineering prowess and commitment to accessible, reliable green transportation.

In 1995, Wang founded BYD—short for "Build Your Dreams"—as a battery manufacturing company. Thirty years later, BYD has grown into one of the world’s top-selling EV manufacturers. It sold more than 3 million vehicles in 2023 alone. The cars are priced at a fraction of their U.S. competitors, but BYD has yet to enter the American market due to tariffs. Nevertheless, it has become a formidable international player, largely thanks to its signature “blade battery.” Celebrated for being more affordable, safer, and longer-lasting than competing EV batteries, the blade battery has reshaped industry standards and attracted high-profile adopters. Tesla now integrates the battery in many of its own vehicles.

“Any car company that’s not paying attention to them as a competitor is going to be lost when they hit their market,” Sam Fiorani, a vice president at AutoForecast Solutions near Philadelphia, told the Associated Press. “BYD’s entry into the U.S. market isn’t an if. It’s a when.”

Part of its power also comes from the fact that the company’s vertically integrated supply chain allows it to control nearly every production stage—from mining raw minerals to manufacturing car chips—insulating it from outside market shocks.“There are many examples of politicians in other countries who are worried about EVs in China,” Wang said at a 2024 industry summit speech. But the competition will help drive progress, he said—electric and hybrid models will eventually overtake conventional cars: “That is the overriding and unstoppable trend.”