BYD vs Fortinet: Founders, CEOs and History
BYD was founded in 1995 by Wang Chuanfu, Lu Xiangyang and is led by Wang Chuanfu. Fortinet was founded in 2000 by Ken Xie, Michael Xie and is led by Ken Xie.
Company facts
Founders
BYD
Wang Chuanfu
Wang Chuanfu founded BYD in Shenzhen in 1995 with his cousin Lu Xiangyang to make rechargeable batteries for mobile phones.
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.
Fortinet
Ken Xie
Ken Xie co-founded Fortinet in 2000 with his brother Michael and has led it as Chairman and CEO since. Before Fortinet he co-founded NetScreen Technologies, a hardware-accelerated firewall company that Juniper Networks acquired in 2004 for about $4 billion.
Michael Xie
Michael Xie co-founded Fortinet with his brother Ken Xie in 2000 and serves as President and Chief Technology Officer. He oversees engineering, including the FortiOS operating system and the FortiASIC processors that accelerate FortiGate firewalls.
CEOs and their tenures
BYD
- Wang Chuanfu1995–present
Founder, Chairman and President (CEO)
Wang Chuanfu has run BYD since founding it in 1995. He moved the company from phone batteries into cars in 2003, launched the first mass-produced plug-in hybrid in 2008, introduced the Blade Battery in 2020 and ended combustion-only car production in 2022.
Source - Lu Xiangyang1995–present
Co-Founder and Non-Executive Director
Lu Xiangyang, Wang Chuanfu's cousin and a former banker, provided early capital for BYD in 1995 and has remained on the board, now as a non-executive director.
Source - Stella Li1996–present
Executive Vice President; CEO of BYD Americas and Europe
Stella Li joined BYD in September 1996 as a marketing manager for exports, opened its first overseas office in Hong Kong in 1997 and set up its European headquarters in 1999.
Source
Fortinet
- Ken Xie2000–present
Founder, Chairman and Chief Executive Officer
Xie is widely recognized as one of the most successful and enduring pioneers of the modern cybersecurity industry.
Source - Michael Xie2000–present
Co-Founder, President and Chief Technology Officer
Co-founded Fortinet with his brother Ken Xie in 2000 and has served as President and CTO, directing engineering and the custom silicon that differentiates FortiGate.
Source - Christiane Ohlgart2023–present
Chief Financial Officer
Serving as interim CFO, she steered the company through a severe, highly volatile period of plunging hardware sales, aggressively pushing the company's transition toward higher-margin software and services revenue.
Source
Timeline: BYD and Fortinet side by side
1995BYD
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.
2000BYD
Becomes a leading NiCd battery maker
BYD becomes one of the world's largest makers of nickel-cadmium batteries, supplying major electronics brands.
2000Fortinet
Fortinet Founded
Ken Xie and Michael Xie founded Fortinet to build high-performance network security products.
2002BYD
Hong Kong listing
BYD lists its H shares on the Hong Kong Stock Exchange under stock code 1211.
2002Fortinet
FortiGate Launch
The FortiGate appliance family established Fortinet's firewall-led product identity.
2003BYD
Buys 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.
2008BYD
Berkshire Hathaway takes about 10%
Berkshire Hathaway's MidAmerican Energy invests $232 million for about 10% of BYD, giving the company international credibility.
2008BYD
Launches 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.
2009Fortinet
IPO
Fortinet went public, giving the company access to capital for global enterprise expansion.
2010BYD
Denza joint venture with Daimler
BYD and Daimler set up Denza as a 50:50 joint venture to build premium electric cars in China.
2011BYD
Launches 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).
2012Fortinet
Acquired XDN
Fortinet acquired XDN. Fortinet acquired XDN in 2012.
2013Fortinet
Acquired Coyote Point
Fortinet acquired Coyote Point. Fortinet acquired Coyote Point in 2013.
2015Fortinet
Acquired Meru Networks
Fortinet acquired Meru Networks. Fortinet acquired Meru Networks in 2015.
2019Fortinet
Security Fabric Expansion
Fortinet broadened from firewalls into integrated secure networking, endpoint, cloud, and operations products.
2020BYD
Launches the Blade Battery
BYD introduces the Blade Battery, an LFP cell-to-pack design that passes the nail penetration test without fire.
2022BYD
Ends combustion-only car production
In March 2022 BYD stops making combustion-only passenger cars and focuses entirely on battery EVs and plug-in hybrids.
2023BYD
Passes 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.
2024BYD
Takes 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.
2024Fortinet
Lacework and Next DLP Acquisitions
Fortinet bought cloud-security firm Lacework and data-loss-prevention vendor Next DLP.
2025BYD
Berkshire Hathaway exits
Berkshire Hathaway confirms in September 2025 that it has sold its entire BYD stake, ending a 17-year investment.
2025BYD
Becomes 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.
2025Fortinet
Service Revenue Reaches Two-Thirds of Sales
FY2025 service revenue reached $4.5812B, or 67 percent of total revenue.
2026BYD
Unveils 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.
2026BYD
Overseas 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).
2026Fortinet
Refresh-Driven Acceleration
Q2 2026 revenue rose 26% to $2.05B and 2026 revenue guidance was raised to $8.02-$8.18B.
Acquisitions
BYD
- Denza (remaining stake from Mercedes-Benz)2024Undisclosed
- Jabil mobile electronics manufacturing business (China)2023$2B
- Xi'an Qinchuan Automobile2003$32M
Fortinet
- Everest2025Undisclosed
- Lacework2024Undisclosed
- Next DLP2024Undisclosed
- ShieldX2021Undisclosed
- Sken.Ai2021Undisclosed
- OPAQ Networks2020Undisclosed
Questions about BYD vs Fortinet
Who is the CEO of BYD Company Ltd and Fortinet, Inc.?
BYD Company Ltd is led by Wang Chuanfu and Fortinet, Inc. is led by Ken Xie. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was BYD Company Ltd founded vs Fortinet, Inc.?
BYD Company Ltd was founded in 1995 — 5 years before Fortinet, Inc., which was founded in 2000. BYD Company Ltd's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Fortinet, Inc..
How many employees does BYD Company Ltd have compared to Fortinet, Inc.?
BYD Company Ltd employs approximately 911,900 people, while Fortinet, Inc. employs approximately 15,109. BYD Company Ltd has the larger workforce at 911,900 employees, compared to Fortinet, Inc.'s 15,109. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are BYD Company Ltd and Fortinet, Inc. headquartered?
BYD Company Ltd is headquartered in China and Fortinet, Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded BYD Company Ltd and Fortinet, Inc.?
BYD Company Ltd was founded by Wang Chuanfu, Lu Xiangyang. Fortinet, Inc. was founded by Ken Xie, Michael Xie.
Which company has a longer operating history — BYD Company Ltd or Fortinet, Inc.?
BYD Company Ltd has been operating for approximately 31 years, making it the more established of the two companies. Fortinet, Inc. has been in operation for around 26 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the BYD vs Fortinet overview