BYD vs Hershey: Founders, CEOs and History
BYD was founded in 1995 by Wang Chuanfu, Lu Xiangyang and is led by Wang Chuanfu. Hershey was founded in 1894 by Milton S. Hershey and is led by Kirk Tanner.
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.
Hershey
Milton S. Hershey
The Hershey Company possesses arguably the most well-known, utopian founding story in American industrial history, rooted in the persistence of a man who failed notably before inventing the modern American chocolate industry.
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
Hershey
- David J. West2007–2011
President and CEO
He left in 2011 and John Bilbrey succeeded him.
Source - John P. Bilbrey2011–2017
President and CEO
He retired in 2017 and Michele Buck succeeded him.
Source - Michele Buck2017–2025
Former Chief Executive Officer
Buck is universally credited with modernizing the historic chocolate company, transforming it into a diversified, resilient snacking empire capable of sustaining long-term growth.
Source - Kirk Tanner2025–present
Chief Executive Officer
While his tenure is just beginning Tanner is tasked with proving that Hershey's recent transition into a diversified 'snacking leader' can be integrated and scaled globally.
Source
Timeline: BYD and Hershey side by side
1894Hershey
Founding of Hershey Chocolate Company
Milton S. Hershey founded the Hershey Chocolate Company as a subsidiary of the Lancaster Caramel Company, initially producing chocolate coatings for his caramels before recognizing the potential of solid milk chocolate.
1900Hershey
Sale of Lancaster Caramel Company
Milton S. Hershey sold the Lancaster Caramel Company for $1 million to focus entirely on the chocolate business, retaining the chocolate department and the rights to the milk chocolate formula he had developed.
1903Hershey
Construction of the Hershey Factory
Construction began on the Hershey Chocolate factory in Derry Township, Pennsylvania, designed to be the most advanced chocolate manufacturing facility in the world, utilizing continuous-flow production systems.
1907Hershey
Introduction of Hershey's Kisses
The company launched the Hershey's Kiss, a small, teardrop-shaped piece of chocolate that was individually wrapped in a thin strip of foil, becoming one of the most well-known and recognizable confectionery products in history.
1928Hershey
Introduction of Mr. Goodbar
Hershey launched Mr. Goodbar, a milk chocolate bar packed with roasted peanuts, which became a commercial success and established the company's dominance in the combination chocolate bar category.
1938Hershey
Introduction of Krackel
The company introduced Krackel, a milk chocolate bar with crisped rice, expanding its portfolio of everyday chocolate bars and using its manufacturing expertise in rice processing.
1963Hershey
Introduction of Reese's Peanut Butter Cups
While Reese's was founded earlier, Hershey acquired the brand in 1963, a move that would eventually create the company's largest and most profitable franchise, generating over $3 billion in annual retail sales today.
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.
1996Hershey
Acquisition of Leaf Inc.
Hershey acquired Leaf Inc., adding well-known brands like Jolly Rancher, Whoppers, and Milk Duds to its portfolio, significantly expanding its presence in the non-chocolate confectionery market.
2000BYD
Becomes a leading NiCd battery maker
BYD becomes one of the world's largest makers of nickel-cadmium batteries, supplying major electronics brands.
2002BYD
Hong Kong listing
BYD lists its H shares on the Hong Kong Stock Exchange under stock code 1211.
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.
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).
2017Hershey
Michele Buck Appointed CEO
Michele Buck was appointed CEO, initiating a rigorous strategic transformation plan focused on portfolio diversification, manufacturing modernization, and supply chain resilience, which drove the company's success in navigating record cocoa inflation.
2020BYD
Launches the Blade Battery
BYD introduces the Blade Battery, an LFP cell-to-pack design that passes the nail penetration test without fire.
2021Hershey
Acquisition of Dot's Homestyle Pretzels
Hershey acquired Dot's Homestyle Pretzels for about $1.2 billion and its manufacturing partner Pretzels Inc. in December 2021, expanding its salty snack segment.
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.
2024Hershey
Record Net Income Before Cocoa Shock
Hershey reported $11.20 billion in 2024 net sales and record net income of $2.22 billion, before record cocoa costs hit 2025 results. In December 2024, reports said Mondelez had again approached Hershey about a deal; no transaction followed.
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.
2025Hershey
Kirk Tanner Becomes CEO
Former Wendy's CEO Kirk Tanner succeeded Michele Buck as President and CEO on August 18, 2025. Hershey closed the LesserEvil acquisition in November 2025 and reported $11.69 billion in 2025 net sales.
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).
Acquisitions
BYD
- Denza (remaining stake from Mercedes-Benz)2024Undisclosed
- Jabil mobile electronics manufacturing business (China)2023$2B
- Xi'an Qinchuan Automobile2003$32M
Hershey
- LesserEvil2025$750M
- Dot's Homestyle Pretzels2021$1.2B
- Lily's Sweets2021$425M
- Amplify Snack Brands2018$1.6B
Questions about BYD vs Hershey
Who is the CEO of BYD Company Ltd and The Hershey Company?
BYD Company Ltd is led by Wang Chuanfu and The Hershey Company is led by Kirk Tanner. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was BYD Company Ltd founded vs The Hershey Company?
The Hershey Company was founded in 1894 — 101 years before BYD Company Ltd, which was founded in 1995. The Hershey Company's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger BYD Company Ltd.
How many employees does BYD Company Ltd have compared to The Hershey Company?
BYD Company Ltd employs approximately 911,900 people, while The Hershey Company employs approximately 19,595. BYD Company Ltd has the larger workforce at 911,900 employees, compared to The Hershey Company's 19,595. 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 The Hershey Company headquartered?
BYD Company Ltd is headquartered in China and The Hershey Company 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 The Hershey Company?
BYD Company Ltd was founded by Wang Chuanfu, Lu Xiangyang. The Hershey Company was founded by Milton S. Hershey.
Which company has a longer operating history — BYD Company Ltd or The Hershey Company?
The Hershey Company has been operating for approximately 132 years, making it the more established of the two companies. BYD Company Ltd has been in operation for around 31 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 Hershey overview