- BYD's Wang Chuanfu said Chinese NEVs are about 3-5 years ahead of the rest of the globe and called for a more open world.
- BYD's 110,000 engineers are its biggest asset, said Wang.
BYD (HKG: 1211, OTCMKTS: BYDDY) chairman and president Wang Chuanfu said Chinese new energy vehicles (NEVs) are ahead of the rest of the globe and called for a more open world to allow more people to experience them.
Whether in terms of products, technology or industry chain, China's NEVs are ahead of the rest of the world by about 3-5 years, Wang said in an interview with state broadcaster CCTV, according to the text released yesterday.
Only with openness and innovation can the world feel these good products and develop together, Wang said.
BYD's biggest asset is its team of engineers, he said. "We have 110,000 engineers, which is BYD's biggest asset."
Behind every one of the company's technologies is innovation, green development and the efforts of 110,000 engineers, Wang said.
Wang was interviewed by CCTV on February 17 after attending a high-level Chinese government symposium on private enterprises, which was also attended by Huawei founder Ren Zhengfei, Xiaomi (HKG: 1810, OTCMKTS: XIACY) founder Lei Jun, and DeepSeek founder Liang Wenfeng.
BYD was founded in February 1995 with about 20 employees. Now, the company has become one of China's largest car companies, with a total workforce of more than 900,000.
The company started out in the battery business and officially entered the automotive industry in 2003 with the acquisition of Qinchuan, located in Xi'an, Shaanxi province in northwest China.
With the rapid electrification transformation of China's auto industry over the past few years, BYD has quickly become the world's largest NEV maker.
The company ceased production and sales of vehicles powered entirely by internal combustion engines in March 2022 to focus on producing plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV) models.
BYD saw its one millionth NEV roll off the assembly line on May 19, 2021, and its 10 millionth NEV roll off the assembly line on November 18, 2024.
In 2024, BYD sold a record 4,272,145 NEVs, up 41.26 percent from 3,024,417 in 2023, according to data compiled by CnEVPost.
The company sold 417,204 NEVs in overseas markets last year, up 71.86 percent from 242,765 in 2023.
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