The orphan who built the world's largest EV company, BYD; here’s the incredible story of Wang Chuanfu

Wang Chuanfu, the founder and CEO of BYD, has made one of the world's largest electric vehicle manufacturing businesses, starting his journey when he was poor.

Early Hardships

The founder of China's top automaker BYD, was born in 1966 in Anhui Province, he had experienced early hardship in life, as per CNN. When he was still in middle school, his parents died, leaving him orphaned, reported CNN. But with the help of his older brother, Wang continued his education.

Sensing Opportunity

After completing a master's at the Beijing Nonferrous Metals Research Institute, Wang settled in Shenzhen, where the institute set up a battery company, according to CNN. Sensing an opportunity, he founded BYD in 1995 with a small team of 20 people and borrowed capital of around $352,000 from his cousin to launch the company, reported CNN.

From Battery Maker to Auto Industry Innovator

BYD had initially started off by making batteries, according to Chuanfu, “The bottleneck for electric vehicles is the battery,” as quoted in the CNN report. He claimed, “If you master battery technology or accurately predict its future direction, you are essentially setting the strategic course for the entire EV industry,” quoted CNN.

Wang then ventured into the car industry in 2003 after the acquisition of a failing state-owned company in the country for $38 million, reported CNN. As the company he bought was technologically weak, he would get second-hand cars from worldwide, dismantle them, and study their designs to learn their design and manufacturing processes, according to the report.

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He claimed that, “Toyota, being the world’s number one automaker, its craftsmanship, design, and products are worth learning from — only by standing on