Names such as Tesla come to mind when we envision electric cars (EVs). However, over the past few years, one company has insidiously swept the giant to its heels — BYD. Under Wang Chuanfu’s leadership, BYD is now the largest EV maker in the world, surpassing Tesla in some categories. This is no small feat. Wang, a former professor of metallurgy, has grown BYD from a small battery company into a multinational EV company.
For India, a nation that would like to take its electric cars to the moon, BYD’s popularity holds lessons. The Indian government wants 30% of private cars, 70% of commercial vehicles and 80% of two-wheelers and three-wheelers to be electric by 2030. In order to achieve this, Indian automakers, policymakers and entrepreneurs can follow BYD’s experience as a blueprint.
The Man Behind BYD’s Success – Wang Chuanfu

Wang Chuanfu, “The Chairman” at BYD for short, is a fascinating guy. His story is a myth in China — how he went from being a small boy to be one of the world’s leading EV entrepreneurs. A former professor with a research track record in nonferrous metals, Wang’s technical skills have been the cornerstone of BYD’s growth.
Key Traits of Wang’s Leadership
- Technical Focus: Wang has a keen focus on technology and innovation. His material science background helped BYD grow to the forefront of battery technology — the foundation of any electric car.
- Cost-Cutting Ethos: Cost pressure is another aspect that drives BYD’s success. Wang has created an environment in which production is more internally produced than outsourced, enabling vertical integration. This not only cuts costs but it also gives BYD more control over its supply chain.
- Work Ethic: The embodiment of an irrational work ethic, Wang’s leadership style is admired as well as feared. Work-life balance is not a word in his dictionary, at least according to his close collaborators.
BYD’s Journey to Global Dominance

BYD’s rise didn’t happen overnight. The business was originally established in 1995 as a battery supplier to companies such as Nokia and Motorola. The EV transition started early in the 21st century and BYD had sold more than 3 million cars by 2023, with some comparing it to Tesla.
Timeline of BYD’s Growth
Year | Milestone |
1995 | BYD founded as a battery manufacturer |
Early 2000s | Shift towards electric vehicles |
2008 | Warren Buffett’s Berkshire Hathaway invests in BYD |
2022 | BYD overtakes Tesla in terms of global EV sales |
2023 | BYD’s total vehicle sales reach over 3 million units |
The Role of Innovation
What makes BYD so dominant is their innovation. The company, for instance, pioneered cell-to-body technology that places the battery inside the car’s body. This technology optimizes vehicle fuel economy and weight reduction — two factors important to electric cars.
BYD is the vertical integration leader, too. Just about every part of a BYD vehicle, from the batteries to the chips, is produced at home. This is not only cheaper, but also protects the firm from supply chain interruptions — which is crucial as the chip market globally struggles.
Lessons for India’s EV Ambitions

India, like China, is a huge market with fast-escalating energy demands. The Indian EV market, however, is still in its infancy. With companies such as Tata Motors and Mahindra already taking action, we can learn a lot from BYD’s experience.
1. Focus on Battery Technology
What has kept BYD ahead is its ability to control the battery. India must prioritize battery manufacturing. At the moment, India depends heavily on imports of lithium-ion batteries. Local battery manufacturing will reduce not only costs but also dependence on outside suppliers.
2. Vertical Integration
Just like BYD, Indian firms should vertically integrate. This includes managing all key stages of the supply chain, from raw materials to manufacturing. By doing so, businesses will be able to lower their prices, work more effectively and manage any interruptions better.
3. Government Support
BYD and the EV industry in general has been supported by China’s government. India’s government has already launched programmes such as the FAME II scheme that subsidies EVs. However, further focused support is required in terms of local battery manufacturing and charging infrastructure.
4. Cost Competitiveness
India is a price-sensitive market. BYD’s policy of aggressive reductions ensured the manufacture of low-cost, safe vehicles. Indian automakers should follow the same tactics to sell EVs to the masses.
5. Importance of Scale
BYD’s growth surged during the COVID-19 crisis when supply chains were disrupted, but the company’s in-house capacity helped it ramp production rapidly. Indian automobile manufacturers need to focus on increasing the production levels in order to satisfy the future demand.
Challenges for BYD and What India Can Learn

BYD was phenomenally successful, but it wasn’t perfect. In Europe and the US, BYD is competing with fierce opposition and regulatory barriers. For instance, the European Union has already launched investigations into Chinese EV subsidies, which may affect BYD’s plans to expand.
In the same vein, India will need to adapt to international trade. As the worry over dependence on China for raw materials and parts grows, India will need to come up with ways to import essential components locally.
Challenges Indian EV Makers Should Watch Out For:
- Dependencies on Supply Chains: Similar to BYD, Indian carmakers will have to eliminate their dependence on foreign vendors by creating strong local supply chains.
- International Competitors: The more Indian EV manufacturers expand, the more global players such as Tesla and BYD will compete with them. Competitive advantage will be key — in terms of cost, technology, and local market knowledge.
Conclusion
BYD’s ascendancy under Wang Chuanfu is an extraordinary tale of vision, innovation and relentless achievement. For India, which is also stepping into an electric mobility revolution, the lessons are plenty. From battery technologies to vertical integration and aggressive cost control, BYD has demonstrated what it takes to survive in the crowded EV industry.
India can be the world’s EV leader, but it needs visionary leadership, investment and vision. It will be a tough ride, but if India can take its assets to the table it could just copy BYD’s feat on its own.
In order to build the Indian future for EVs, the government and industry need to create innovation and local capacities. And it’s time to act now — let’s push toward a cleaner, greener future.