Auto Entrepreneurs

Once considered the face of BYD， Wang Chuanfu has been keeping a lower profile these days， likely because he is busy with preparations to list the company on the A-share market.

Wang established BYD in 1995 in Shenzhen with RMB 2.5 million (USD 386，000) he borrowed from relatives and within five years the company became the world’s largest mobile phone battery producer. In 2002， BYD listed on the Hong Kong Stock Exchange and had more than 20，000 employees. Wang then announced plans to enter the automotive sector by purchasing an automaker in Shaanxi Province.

Despite many naysayers， Wang was determined to be a successful producer of electric cars. In 2007 he predicted that BYD would become the world’s largest vehicle producer within 18 years.

Wang’s ambitious plans drew the attention of US investor Warren Buffet， who purchased a 10% stake in BYD in 2008. International media also took notice of Wang and Forbes magazine， estimating his personal wealth to be RMB 39.6 billion， naming him China’s wealthiest entrepreneur.

BYD’s rapid expansion into the auto industry and a shallow pool of experienced managers were cited as reasons for the company failing to meet analysts’ expectations in 2010. According to its financial reporting for that year， mobile phone accessories were the company’s main profit center with the automobile business only generating an additional 1.56% profits over the previous year.