On November 18. BYD held its 30th-anniversary celebration and the rollout of its 10 millionth new energy vehicle (NEV) at the Xiaomo Industrial Park in the Shenzhen-Shantou Special Cooperation Zone.
During the event, Wang Chuanfu, Chairman and President of BYD Co., Ltd., recounted BYD's 30-year journey. From a small team of 20 people in a modest factory 30 years ago, guided by the engineering spirit of "daring to imagine, act, and persevere," BYD has grown into a world-class enterprise with nearly one million employees. BYD has consistently leveraged technological innovation to fulfill people’s aspirations for a better life while giving back to society, car owners, and employees.
Now, BYD stands as the world's first automaker to achieve the milestone of rolling out 10 million NEVs. This accomplishment is not only a new milestone for BYD but also a significant marker in the history of China's automotive industry. It signifies a crucial step in China's evolution from being a major auto producer to becoming a global automotive powerhouse, ushering in an era of high-quality development in China's auto sector.
From 15 Years to 15 Months: Accelerating the Milestones
It took BYD 15 years to achieve its first 5 million NEVs. The second 5 million, however, were completed in just 15 months, setting a new benchmark for speed in China’s auto industry and reaffirming BYD's commitment to its NEV strategy and innovation-driven philosophy.
At the ceremony, Wang Chuanfu handed over BYD's 10 millionth NEV, a Denza Z9. to Feng Ji, founder and CEO of Game Science and the creator of Black Myth: Wukong. Feng expressed his honor in becoming the owner of this milestone vehicle and his intention to collaborate with BYD to tell China's stories through world-class quality.
The Spirit of “Daring” and the Soul of Engineers
BYD’s journey has been driven by the spirit of "daring to imagine, act, and persevere," a mindset that resonates not only with BYD but with all Chinese people. According to Wang Chuanfu, this daring spirit is rooted in technological strength, which itself stems from an engineering culture.
"The soul of engineers is the soul of BYD," said Wang. "Even if we lost all our assets—factories, patents, and stocks—our engineers would enable us to rise again."
This ethos is detailed in The Soul of Engineers: BYD at Thirty (1994-2024), authored by renowned journalist Qin Shuo. Drawing from interviews with nearly 100 BYD executives and employees and over 200 hours of recordings, the book captures the essence of BYD's success.
The Engineer’s Soul: Key to BYD’s Miraculous Growth
BYD's journey from a small battery factory to the global leader in NEVs exemplifies its engineering-driven approach. In 2007. during the inauguration of its Pingshan facility, BYD announced its ambition to become China's largest automaker by 2015 and the world's largest by 2025. Despite initial skepticism, Wang Chuanfu emphasized BYD’s core advantage: 10.000 engineers with robust R&D capabilities, complemented by 120.000 skilled workers turning ideas into reality.
This engineer-driven model originated in BYD’s early days of manufacturing nickel batteries. Unable to afford automation, BYD innovated a "human + fixture = robot" model. While production has since evolved to embrace automation and smart manufacturing, the human-centered approach remains central to BYD's philosophy.
In 2009. Wang highlighted at BYD’s shareholder meeting that the company's greatest value lies not in financial statements but in its engineering team of 12.000. whose innovations in green energy and sustainability represent BYD's true assets.
The Formula for Success: E = mc2
BYD's success can be encapsulated in a formula reminiscent of Einstein's equation: E = mc2. Here, "E" represents BYD’s value energy, "m" signifies fixed assets like plants and equipment, and "c" stands for core technology, engineering culture, and cost efficiency. BYD’s ability to vertically integrate and innovate has been key to its success.
For example, BYD's customers in its electronics division have found its solutions to be 15-20% more cost-efficient and 33% faster compared to other manufacturers. This is a testament to its mastery of the fundamentals, from battery-vehicle integration to semiconductor advancements.
Technology-Driven Proof of Concept
From its inception, BYD has operated on the belief that technology is the decisive factor linking causes and outcomes. This principle guided BYD through setbacks, including its early adoption of lithium iron phosphate batteries in 2002. which only gained mainstream traction with the launch of the Blade Battery in 2020. Similarly, BYD began developing plug-in hybrid technology in 2003. but it took nearly two decades of perseverance to reach the third generation of its DM technology.
BYD's engineers have faced challenges with resilience, proving that innovation can defy conventions and lead to transformative changes. This determination is reflected in BYD’s dominance in the NEV market, consistently ranking among the top in sales.
A Microcosm of China’s Manufacturing Evolution
BYD’s journey mirrors the evolution of China’s manufacturing sector, from imitation (me-too) to innovation (me-better) and leadership (best-in-class). Its commitment to investing in advanced testing facilities, laboratories, and talent development underscores its focus on being a pioneer rather than a follower.
Leading the Automotive Revolution
As the world transitions from traditional combustion-engine vehicles to electric, digital, and connected cars, BYD is at the forefront of a historic revolution. This transformation aligns with global trends in electrification, digitization, and sustainability, offering China an unprecedented opportunity to lead.
Through its relentless pursuit of innovation, BYD continues to demonstrate that no challenge is insurmountable. With a comprehensive approach to technology, manufacturing, and talent development, BYD has redefined what it means to be a global automotive leader.
