BYD Company Ltd
Company History
BYD History: Founding, Growth & Key Milestones
Founded 1995 in Shenzhen, China
When was BYD founded?
BYD was founded in 1995 in Shenzhen, China by Wang Chuanfu and Lu Xiangyang, making it 31 years old.
- Founded
- 1995
- Founding place
- Shenzhen, China
- Founders
- Wang Chuanfu and Lu Xiangyang
- Headquarters today
- Shenzhen, Guangdong, China
- Milestones documented
- 16 (1995–2026)
- Current CEO
- Wang Chuanfu
- Acquisitions
- 3
| Year | Event |
|---|---|
| 1995 | BYD founded in Shenzhen |
| 2000 | Becomes a leading NiCd battery maker |
| 2002 | Hong Kong listing |
| 2003 | Buys Qinchuan and enters the car business |
| 2008 | Berkshire Hathaway takes about 10% |
| 2008 | Launches the F3DM plug-in hybrid |
| 2010 | Denza joint venture with Daimler |
| 2011 | Launches the e6 and lists in Shenzhen |
| 2020 | Launches the Blade Battery |
| 2022 | Ends combustion-only car production |
| 2023 | Passes Tesla in quarterly BEV sales |
| 2024 | Takes full ownership of Denza |
| 2025 | Berkshire Hathaway exits |
| 2025 | Becomes the world's top battery EV seller |
| 2026 | Unveils Blade Battery 2.0 and FLASH charging |
| 2026 | Overseas revenue passes China |
- Where was BYD founded?
- BYD was founded in Shenzhen, China in 1995.
- When did BYD start?
- BYD was founded in 1995.
- Who founded BYD?
- BYD was founded by Wang Chuanfu and Lu Xiangyang.
- How old is BYD?
- BYD is 31 years old as of 2026.
Founding Story
Wang Chuanfu was born in 1966 in Wuwei County, Anhui, and lost both parents as a teenager. He studied chemistry at Central South University and earned a master's degree at the Beijing General Research Institute for Nonferrous Metals, where he worked on battery research. In 1995 he left to start BYD in Shenzhen with his cousin Lu Xiangyang, a former banker who backed the venture. Unable to afford Japanese automated lines, BYD broke battery production into manual steps done by low-cost workers, and by the early 2000s it was a major phone-battery supplier to brands such as Motorola and Nokia. In 2003 it bought Xi'an Qinchuan Automobile and entered the car business.
Founders
Wang Chuanfu
Wang Chuanfu founded BYD in Shenzhen in 1995 with his cousin Lu Xiangyang to make rechargeable batteries for mobile phones. Unable to afford the automated lines used by Japanese makers such as Sanyo and Sony, he split battery production into manual steps handled by low-cost workers, which let BYD undercut rivals and win customers including Motorola and Nokia. In 2003, against the wishes of many investors, he bought Xi'an Qinchuan Automobile to enter the car business, betting that battery know-how would matter in cars. BYD launched the first mass-produced plug-in hybrid, the F3DM, in 2008, the same year Berkshire Hathaway bought about 10% of the company; Charlie Munger later compared Wang to a combination of Thomas Edison and Jack Welch. Under Wang, BYD launched the Blade Battery in 2020, stopped making combustion-only cars in 2022 and became the world's largest battery EV seller in 2025. He still presents major technology launches himself, including Blade Battery 2.0 in March 2026, and was reconfirmed as chairman in September 2026. Wang Chuanfu was born in 1966.
Lu Xiangyang
Lu Xiangyang put up the early capital when Wang Chuanfu started BYD in 1995 and has sat on BYD's board ever since, now as a non-executive director. His stake in BYD made him one of China's richest people. Shareholders re-elected him to the board for a new three-year term on September 29, 2026. (Exact birth year remains publicly undisclosed).
Key Milestones
BYD founded in Shenzhen
Wang Chuanfu and his cousin Lu Xiangyang start BYD in Shenzhen with about 20 employees, making rechargeable batteries for mobile phones.
Source: en.wikipedia.orgBecomes a leading NiCd battery maker
BYD becomes one of the world's largest makers of nickel-cadmium batteries, supplying major electronics brands.
Source: en.wikipedia.orgHong Kong listing
BYD lists its H shares on the Hong Kong Stock Exchange under stock code 1211.
Source: en.wikipedia.orgBuys Qinchuan and enters the car business
BYD acquires a controlling stake in Xi'an Qinchuan Automobile for about $37.4 million (CN¥269 million), gaining a car production licence and factory.
Source: en.wikipedia.orgBerkshire Hathaway takes about 10%
Berkshire Hathaway's MidAmerican Energy invests $232 million for about 10% of BYD, giving the company international credibility.
Source: en.wikipedia.orgLaunches the F3DM plug-in hybrid
BYD launches the F3DM, the world's first mass-produced plug-in hybrid car, two years before the Chevrolet Volt.
Source: en.wikipedia.orgDenza joint venture with Daimler
BYD and Daimler set up Denza as a 50:50 joint venture to build premium electric cars in China.
Source: en.wikipedia.orgLaunches the e6 and lists in Shenzhen
BYD launches the e6 electric crossover, first used as a taxi in Shenzhen, and lists A shares on the Shenzhen Stock Exchange (002594).
Source: en.wikipedia.orgLaunches the Blade Battery
BYD introduces the Blade Battery, an LFP cell-to-pack design that passes the nail penetration test without fire.
Source: en.wikipedia.orgEnds combustion-only car production
In March 2022 BYD stops making combustion-only passenger cars and focuses entirely on battery EVs and plug-in hybrids.
Source: en.wikipedia.orgPasses Tesla in quarterly BEV sales
BYD sells 3.02 million new energy vehicles in 2023, and its 526,409 battery EVs in the fourth quarter top Tesla's 484,507 for the first time in a quarter.
Source: en.wikipedia.orgTakes full ownership of Denza
Mercedes-Benz sells its last 10% of Denza in July 2024, leaving BYD as the sole shareholder of its premium brand.
Source: electrive.comBerkshire Hathaway exits
Berkshire Hathaway confirms in September 2025 that it has sold its entire BYD stake, ending a 17-year investment.
Source: cnbc.comBecomes the world's top battery EV seller
BYD sells 2.26 million battery EVs in 2025 against Tesla's 1.64 million, and 4.6 million new energy vehicles in total.
Source: cnbc.comUnveils Blade Battery 2.0 and FLASH charging
On March 5, 2026 BYD unveils the second-generation Blade Battery, which charges from 10% to 70% in about five minutes, and plans 20,000 FLASH charging stations in China by the end of 2026.
Source: byd.comOverseas revenue passes China
In the first half of 2026 BYD's overseas revenue of ~$25.2 billion (CN¥181.3 billion) exceeds revenue from China for the first time, even as group revenue falls 7.1% to ~$47.9 billion (CN¥344.8 billion).
Source: financialpost.comMajor Acquisitions
Xi'an Qinchuan Automobile
2003BYD bought a controlling stake in Xi'an Qinchuan Automobile, a small state-owned carmaker, for about $37.4 million (CN¥269 million) to get a vehicle production licence, a factory and an engineering team. Without it, BYD would have faced years of regulatory barriers before it could make passenger cars in China.
Jabil mobile electronics manufacturing business (China)
2023BYD Electronic agreed in August 2023 to buy Jabil's mobile electronics manufacturing operations in Chengdu and Wuxi for CN¥15.8 billion (about $2.2 billion), to add smartphone component customers and products.
Denza (remaining stake from Mercedes-Benz)
2024Denza started in 2010 as a 50:50 joint venture between BYD and Daimler. BYD raised its stake to 90% under a December 2021 restructuring and bought Mercedes-Benz's last 10% in July 2024. Terms were not disclosed.
Keep researching BYD
BYD Company History FAQ
What are the major historical eras in the corporate history of BYD?
BYD's history runs from its 1995 founding in Shenzhen as a battery maker, its 2002 Hong Kong listing and its 2003 entry into cars through Qinchuan, to the first mass-produced plug-in hybrid (F3DM, 2008), the Blade Battery (2020), the end of combustion-only cars (2022), full ownership of Denza (2024), and becoming the world's top battery EV seller in 2025. In the first half of 2026, overseas revenue passed revenue from China for the first time.
How did Berkshire Hathaway's investment in 2008 validate BYD globally?
In September 2008, Warren Buffett's Berkshire Hathaway, at Charlie Munger's urging, invested $232 million for about 10% of BYD. The stake gave BYD international credibility as it began selling electric buses abroad. Berkshire started selling in August 2022 and confirmed in September 2025 that it had sold all of its shares.
When did BYD launch the major Blade Battery in March 2020?
In March 2020, BYD launched the Blade Battery, broadcasting live footage of the battery passing the severe nail penetration test without thermal runaway, triggering a global industry-wide shift back to lithium iron phosphate (LFP) chemistry.
When did BYD officially stop manufacturing pure gasoline vehicles?
In March 2022, BYD made global headlines by officially ceasing all production and sales of pure gasoline-powered internal combustion engine vehicles, becoming the first legacy automaker in history to go 100% electrified (BEV and PHEV).
When did BYD roll off its 6 millionth new energy vehicle?
In November 2023, BYD became the first automaker in the world to produce its 6 millionth new energy vehicle (a Fangchengbao Bao 5), having taken 13 years for its first million and just three months for its sixth million.
When did BYD launch its dedicated RoRo car carrier cargo shipping fleet?
In January 2024, the 'BYD Explorer No. 1' set sail on its maiden voyage from Shenzhen to Europe carrying over 5,000 electric vehicles, inaugurating BYD's corporate shipping fleet to deliver vehicles directly to European consumers.
When did BYD pass Tesla as the world's largest EV seller?
BYD first passed Tesla in quarterly battery EV sales in the fourth quarter of 2023 (526,409 against 484,507). For a full year it first did so in 2025, selling 2.26 million battery EVs to Tesla's 1.64 million.
What is BYD's long-term vision for the global clean technology revolution?
BYD's vision is to build a complete zero-emission ecosystem, harnessing solar power generation, storing clean energy with Blade Batteries, and providing electric transportation across passenger cars, commercial transit, and urban monorails to cool the Earth by 1°C.
Was BYD originally a battery company?
Yes, BYD (Build Your Dreams) was founded in 1995 by Wang Chuanfu strictly to manufacture rechargeable batteries for massive consumer electronics brands like Motorola and Nokia, only acquiring a failing auto company in 2003.
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