Which Chinese billionaire founded the electric vehicle company BYD?

Wang Chuanfu founded BYD, the Chinese company that grew from a rechargeable-battery manufacturer into a major electric-vehicle producer. He established the business in Shenzhen in February 1995 and has led its technological and automotive expansion.

BYD did not begin as a car company. Its early business focused on rechargeable batteries, especially competing with established Japanese manufacturers. This battery expertise later became a foundation for BYD’s move into electric and plug-in hybrid vehicles.

In 2003, BYD entered the automotive industry by acquiring Qinchuan Machinery Works, a struggling automobile manufacturer. That deal gave the company access to manufacturing facilities and an automotive production license. BYD subsequently developed electric buses, passenger cars and its distinctive Blade Battery technology.

Lu Xiangyang is also identified as a co-founder and early financial backer, but Wang Chuanfu is the canonical founder named in standard company histories. Peter Thiel and Elon Musk founded or co-founded different technology ventures, while Li Shufu founded Geely rather than BYD.