Published : 29/10/2024
BYD, the leader in China's new energy vehicle (NEV) manufacturer, has also become the global industry's "best seller". Achieving such success has been a case of sweet following the bitter for its founder Wang Chuanfu (王傳福).
Born into poverty and orphaned at an early age, Wang was thankfully able to change his fate through education.
BYD's Wang Chuanfu: Born into poverty and parents died early
Wang Chuanfu was born into a poor farmer family in Wuhu, Anhui in 1966. That year was marked by natural disasters leading to crop failure, cutting off the Wang family's source of income.
To make matters worse, the family was struggling to feed seven children amidst severe famine. Consequently, Wang's childhood was marked by malnourishment and frailty.
Misfortune piled on. The father, who was working tirelessly to support the family, became chronically ill and passed away when Wang Chuanfu was only 13.
Two years later, Wang’s mother suddenly collapsed while working in the fields and died before she could be taken to the hospital.
With their parents gone and the family’s finances in dire straits, Wang Chuanfu's older brother had to drop out of school at 18 to work, supporting himself with his meagre wages while allocating some to the family.
Having seen the hardships of life, the older brother understood the importance of education and encouraged Wang Chuanfu to stay in school. It was also his brother’s strong support that persuaded Wang to abandon thoughts of dropping out after junior high school.
BYD's Wang Chuanfu｜Family support helps him persist in studies
The sister-in-law also played a significant part in Wang Chuanfu's success. When she learned that Wang Chuanfu could not afford review textbooks for the critical final year of high-school, she sold some of the only jewellery she had from her dowry.
After Wang Chuanfu was admitted to Central South University of Technology (now known as Central South University), his brother and sister-in-law moved from Anhui to Changsha, Hunan Province, and continued to support his education by doing small businesses.
Not disappointing his family, Wang not only excelled academically but also won scholarships year after year. "My striving for scholarships was aimed at lessening the hardship of my brother and sister-in-law," he noted.
After graduation, Wang Chuanfu planned to work as soon as possible to lighten the familial load. But upon learning of this, the sister-in-law called him and said that the family supported him in pursuing further education.
Wang Chuanfu later went to the Beijing General Research Institute of Mining and Metallurgy to study for a master's degree. His research project was the "New Inert Anode for the Electrolysis of Al in Molten Salts" (熔鹽電解鋁新型惰性陽極).
This project laid the foundation for Wang Chuanfu's future success in the new energy vehicle industry.
Due to his outstanding performance, he was allowed to stay on after graduation to participate in the research of "alkaline nickel-chromium-nickel-hydrogen secondary rechargeable batteries", establishing his authority in the field of power battery research.
In 1993, with a solid theoretical foundation, Wang Chuanfu joined a battery company set up by the institute in Shenzhen, serving as the general manager.
After gaining experience in business management and battery production, he saw the immense potential in the battery industry. He decided to resign, leave his job and start his own business.
In 1995, he set up BYD in Shenzhen.
BYD's Wang Chuanfu｜Still living with brother and sister-in-law
Despite an unfortunate start, with the support and companionship of his brother and sister-in-law, Wang Chuanfu learned to be diligent, persevering, and unafraid of hardship.
Under Wang's leadership, BYD has transformed from a small factory of around 2,000 square metres primarily producing rechargeable batteries to a world-leading EV enterprise.
Despite possessing a net worth of over 10 billion dollars, Wang Chuanfu leads a simple life.
It is said that he still lives in a modest home in Shenzhen because he wishes to live with his brother and sister-in-law.
Wang Chuanfu has always remained close to them, never forgetting his family ties, in order to repay their kindness.
Read more: miHoYo's Liu Wei｜Generating 2 billion USD in first year with "Genshin Impact"