Reports from Rui Company (ID: shangjiezz).
Author/ Ma Dong
Editor / Zhou Chunlin
Photo / Visual China
Pessimistic people are more likely to amplify "difficulties", but for the optimist Wang Chuanfu, "searching" itself is important.
After Wang Chuanfu proposed to enter the automobile field that year, BYD's board of directors was boiling, mostly opposition and fear.
Some people feel that the huge victory in the battery industry has washed Wang Chuanfu's mind, which has led to the "ridiculous" idea of entering the automotive industry.
"An enterprise without any 'automotive genes', a new industry with highly intensive capital and technology, is undoubtedly 'seeking its own death'."
Wang Chuanfu did pay the price for the idea at that time, losing tens of millions of yuan a year.
However, Wang Chuanfu's "crazy" move many years ago also created BYD's "madness" in the market many years later.
For the future of electric vehicles, Wang Chuanfu is one of China's most optimistic believers. "The development speed of new things is never equal, and the industry pattern adjustment speed is faster than imagined." Wang Chuanfu said.
Starting from batteries, it has been involved in new energy vehicles, photovoltaic energy storage, cloud rails, chips, and BYD has even built masks during the epidemic. Thirty years later, he established the "Kingdom of BYD".
Some people commented that compared with another "fu" in the automotive industry, Wang Chuanfu's mind is too mixed. However, there are also people who favor him. Charlie Munger said to Buffett, "This guy [Wang Chuanfu] is a mix of Edison and Welch." "It's both a way to solve technical problems like Edison and to get things done like Welch did."
BYD also has personality, "Build Your Dreams Achieve Dreams", Wang Chuanfu defines it this way. This is essentially what he looks like – confident and crazy, pursuing the ultimate, chasing dreams, not going the usual way.
Look at BYD's ten-year journey, and you'll see that the company is like a stumbling child, constantly falling and getting up, while maintaining ambition.
Putting aside the glitz of the world, Wang Chuanfu is as low-key as ever, and the jianghu already knows the layout of BYD, and it is the right time to build a dream.
01
--The Night Raid
As a life-threatening entrepreneur, his actions can always attract attention, and his shortcomings and strengths are both deeply rooted in people's hearts. His often mentioned traits can be listed in many ways: honesty, truthfulness, and elegance, which can be summed up as charisma, or "the driving force behind the dream.". But he also has his own shortcomings, which in the eyes of many people have made BYD experience labor pain.
In the corporate world, few people like Wang Chuanfu have such distinctive characteristics: on the one hand, low-key, on the other, bold, and the two are not contradictory.
But the low profile does not indicate that Wang Chuanfu has no appeal. The owner of a private enterprise who is obsessed with delving into technology embarked on the road of building a car in ridicule and loneliness a few years ago. No one could have imagined that Wang Chuanfu, who did not know how to use cars, could come to this day.
However, fate favors those who are prepared. Wang Chuanfu and his BYD automobile have gone down a path of research and development that is different from any predecessor in the past. When the world is looking left and right for electric vehicles, Wang Chuanfu can't wait to come up with his own works.
Every man has a dream of building a car in his mind, and Wang Chuanfu is no exception. In 2002, after BYD's Hong Kong listing, Wang Chuanfu began to consider the second battlefield. At this time, the Qinchuan Automobile Factory in Xi'an attracted his attention.
A year later, even if some people used the act of selling BYD shares to declare that they did not agree with the seemingly great dream of "BYD to build a car", the signing ceremony was still held as scheduled.
BYD acquired 77% of Qinchuan's shares for 270 million yuan.
A few days before signing, Wang Chuanfu had a struggle in his heart, and he asked the staff next to him word by word, "Do you think we have a play?" The response was, "This is a dangerous game." ”
It's true that things aren't as simple as they think.
A year later, in Shanghai, BYD launched its self-developed model "316". When Wang Chuanfu introduced "316", what he saw was the embarrassed expression of the dealers. After the meeting, he angrily picked up the hammer and smashed it at "316".
From this moment on, BYD began to embark on the road of real car building. The kind that has a long process...
Ten years later, on December 24, 2013, Wang Chuanfu walked into the conference room on the first floor in a gray and white overalls. At this time, the "third Tesla fire" post is being discussed online. The sound of Tesla and electric cars rising and falling. The conversation naturally began with Tesla catching fire.
"We don't want Tesla to have problems, we will benefit if it is done well", Wang Chuanfu is not completely convinced of Tesla, but reason tells him that BYD and Tesla are in a technology camp. This is not like a month ago, when the media praised Tesla, it shouted out Wang Chuanfu, who built Tesla in minutes.
In 2009, Wang Chuanfu topped the Hurun China Rich List and shouted the slogan that BYD will produce and sell 15 million vehicles worldwide in 2020, which frightened many people. Then BYD fell into a trough after 1 year, and experienced a 3-year model adjustment before returning to stability.
After experiencing these ups and downs, Wang Chuanfu was reluctant to talk about specific goals, and at that time, Wang Chuanfu was already less frivolous and more heavy-handed. "This year's growth is about 10% to 20%, whether there are hard indicators in the future, this is not to say." Wang Chuanfu later explained that not mentioning sales indicators was related to BYD's business adjustment.
In 2013, Wang Chuanfu decided not to entangle with joint venture brands on traditional fuel vehicles, and the core strategy shifted to new energy vehicles. In the next two years, BYD will successively launch hybrid vehicles "Tang" and "Han", which represent the latest technological achievements. According to Wang Chuanfu's personal calculations, before fully electrification, electric and fuel dual-mode technology may occupy a 20-year transition period.
2013 is also the tenth year of BYD's car construction, Wang Chuanfu did not engage in celebrations, he feels that the first ten years are paving the way, there is not much to celebrate.
On the one hand, Wang Chuanfu began to adjust the strategic direction, seeking stability in the frontal battlefield, while the flank on the other side attacked to enhance the brand, "can no longer rely on traditional fuel vehicles to attack the brand, but to use new energy vehicles to raid the flank of the joint venture brand that is not yet strong." For Tesla, a high-end pure electric vehicle that is popular in North America, Wang Chuanfu said, "It is just a toy for the rich." ”
Automobiles are an industry with a clear division of labor, in addition to engine technology, many parts of traditional auto giants are done by Bosch, Continental, Denso and other parts companies. However, the embarrassment encountered by the independent brands represented by BYD is that the international supporting factories are all for Volkswagen and Toyota, and will not give high-quality resources and fair prices to the independent brands.
Wang Chuanfu also admitted that the professional division of labor is more efficient and can obtain better management, quality and cost requirements, but this law only applies to the maturity of the industry. In the period of technological breakthrough, parts and components companies may not be able to keep up with the manufacturers to grasp the technology. At this time, it is up to the manufacturer to break through the technology and quickly respond to the launch of the product.
Amid all the opposition in the automotive industry, Wang Chuanfu has stubbornly determined that BYD continues to follow the internal integration and vertical integration strategy in the field of technological breakthroughs. According to Wang Chuanfu's thinking, BYD's automotive intelligent technology and products adopt a vertical integration path supported by BYD's Electronics Division, and only a few components such as sensors are purchased externally. BYD has done mobile phone and computer OEM, and has reserved technical and management foundations for its intelligence.
Intelligence is another key to the breakthrough of independent car companies. BYD once oem computers, mobile phones and other products for global brands, and finally began to master the underlying operating system and code, known as IT-like enterprises. This also gives BYD an inherent advantage over other car companies. This is also why Wang Chuanfu was not very convinced of Musk before, shouting out the bottom line of creating Tesla in minutes.
"The characteristics of the industry itself also make IT thinking unable to fully lead the car thinking, AND people criticize auto people for being too slow to respond and have cognitive errors." For example, IT software development only takes one week, improvement only takes one hour, but the car mold from design to manufacturing, it takes at least 6 months, from the beginning of the product to maturity may take 10 rounds, then it will take dozens of months, this gap is not human thinking can change. ”
Wang Chuanfu finally concluded that although the trend of intelligence is absolute, the marketization of driverless cars is still far away, and the current issue is electrification, and the dawn will come.
02
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"Safety is the greatest luxury of pure electric vehicles" At the "Pure Electric All Series Sabre An Tianxia - BYD New Car Listing Conference" held in Chongqing, Wang Chuanfu's words resonated with the whole audience, like the strongest response to the war.
How big can a car company that starts with batteries really be? BYD's answer may be beyond imagination.
Among the top ten power batteries in the world, Panasonic, Samsung and LG are halfway out of the house, And Guoxuan, Fu Neng and so on started to make batteries, and now they also do batteries. Only Wang Chuanfu jumped out of the battery and became the global new energy vehicle champion.
A seemingly simple needle prick test triggered three air confrontations between the Ningde era and BYD. Behind the smoke of gunfire, it is actually the dispute over China's power battery that has entered a new war situation.
What stings the needle prick is the current Ningde era of specialized batteries, and its lingering anxiety about ternary lithium batteries.
For a long time, ternary lithium batteries have been the mainstream energy solution for new energy vehicles. However, with the advancement of technology, the energy density of ternary lithium batteries has gradually been narrowed by lithium iron phosphate, and the cost reduction is inferior to the latter, coupled with the weakening of policy support, the cobalt-free era has not arrived. Competitors, including car companies, are trying to eat the cake of the Ningde era.
Wang Chuanfu firmly believes that "Fordy (BYD's independent battery company) will change the role and division of labor of China's automotive industry in the global new energy wave." "How will the Ningde era, which has been separated from cheese, deal with it?
On March 29, 2020, BYD released the complete test video of the "blade battery" successfully passing the "needle prick test" for the first time. Acupuncture test is a test means to simulate the internal short circuit of the battery, in simple terms, it is to pierce the battery through a steel needle to simulate the performance of the battery when it is shorted.
The results showed that the ternary lithium battery exploded at the moment of being pierced by the needle, burning violently, the surface temperature exceeded 500 degrees Celsius, and the eggs on the surface of the battery were blown away; the lithium iron phosphate battery was manifested as no open flame but smoke, the surface temperature was 200 to 400 degrees Celsius, and the eggs on the surface of the battery were burned; BYD's "blade battery" had neither open flame nor smoke, the surface temperature remained at 30 to 60 degrees Celsius, and the eggs on the surface of the battery did not change.
In some ways, this experiment illustrates the safety of BYD's blade battery.
Originally, the purpose of BYD's announcement of the test at the press conference was only to prove the safety of its blade battery, in addition to letting consumers see the strength, and did not attract the attention of the industry. But the old rival Ningde era seems to be always paying attention to BYD's movements.
Two months after BYD announced the test results, the chairman of NINGDE Times said in a performance briefing meeting in response to investors' questions about BYD's blade battery: "Battery safety and battery abuse test are two different things, but some people equate the passability of the abuse test with the safety of the battery."
The word "some people" refers directly to BYD and Wang Chuanfu, and "abuse" pokes at the most sensitive nerves of BYD and Wang Chuanfu.
The war of words has since begun.
It was also from this time that a blade and a steel needle triggered a controversy in China's power battery head enterprises.
……
With several arguments, the anger between the two sides gradually subsided.
In fact, Wang Chuanfu had long expected that they were destined to have a war with each other. In the field of traditional fuel vehicles can not be surpassed, new energy vehicles are the new hope. This is also the focus of the two controversies.
The core component of new energy vehicles is the power battery, and the engine status of fuel vehicles is the same, and it is precisely for this reason that the industry competition has become fierce.
In this air-to-air showdown on battery safety, the Ningde era was defeated.
From sheathing to sabre, BYD didn't make consumers wait too long. After the blade battery became popular due to the acupuncture test, BYD quickly put the blade on its important models.
The original intention of Wang Chuanfu's research and development of blade batteries was to blindly compare the mileage in the industry and gradually pull it back to face up to vehicle safety. At this point, Wang Chuanfu reiterated a clear point of view, "Safety is the biggest luxury of an electric car!" "Just as different brands in the era of fuel vehicles give different definitions to their products, BYD in the new energy era directly equates safety and luxury."
Facts have proved that BYD has never stopped testing the safety performance of batteries. After the acupuncture test, this time it was heavy pressure.
At the press conference, such a video appeared on the big screen. A fully loaded heavy truck weighing 46 tons crushed the BYD blade battery pack, which was intact and smoke-free; subsequently, the battery package was packaged back into the BYD Han EV sedan and could still be used normally. With a blade battery that has been certified for double rigorous testing, the safety performance has been re-certified.
With this trump card, Wang Chuanfu is trying to develop it into an industry-wide "standard". According to the plan, the blade battery will be supplied to the whole industry in the future, and almost every car brand that can be imagined is negotiating cooperation with Fordy Battery.
After changing the previous strategy of self-production and self-sales, BYD returned to the role of battery supplier, and also gained a little more chips for its own competition in the new round of electric vehicle wave.
"BYD plans to become China's number one automobile manufacturer in 2015 and the world's first in 2025!" wang Chuanfu shouted this sentence, he knew very well what really controlled the fate of electric vehicles, that is, BYD's best battery.
Looking back after the Battle of Dawn, Wang Chuanfu's ultimate goal is not simply to pursue the advanced and complete battery, but to point to the long term. Among them, there are not only new energy vehicles, but also LEDs, photovoltaic power generation and so on. Because, Wang Chuanfu's initial layout was a revolution in the new energy empire.
03
——Sunrise Shusheng's strategic thinking
Wang Chuanfu spoke softly, but he always spoke with a straight face. As an engineer, he stepped into the position of business leader. He once said: "The market is like a battlefield, competition is like a war, and the general is very important, which requires us entrepreneurs to play a leading role." Wang Chuanfu also talked about other important leadership qualities, "the sense of innovation that dares to be the first" and "the perseverance of perseverance, to persist and not to give up."
Through decades of growth, BYD has become the king of the domestic new energy automobile industry. But at the same time, the market's doubts about this "king" still exist, but Wang Chuanfu has his own plans.
In the building of BYD's headquarters in Shenzhen, Wang Chuanfu works overtime almost every day and returns late, without weekends.
Most of the people who can probably achieve extraordinary things are energetic. Wang Chuanfu works like a perpetual motion machine, he will always be the first test driver of each new car in the company, always ready to preach his views on China's new energy vehicle market and BYD's future plans.
In addition to being a workaholic, Wang Chuanfu has personality traits such as calmness and toughness. There was a passage circulating inside BYD that some visitors came to BYD to visit and talk about battery pollution, and Wang Chuanfu scooped a cup of electrolyte on the spot and drank it. Regardless of whether the passage is true or not, its popularity within BYD reflects the image of Wang Chuanfu in the minds of employees to a certain extent.
Since founding BYD in 1995, Wang Chuanfu has been particularly bold in every step: starting with mobile phone batteries and then extending to mobile phone parts; switching to automobiles, defeating opponents and conquering doubters with cost advantages and sales; and then reverse developing electric vehicles, entering new energy, and high-profile cross-border to monorail transportation with only oligarchic players. Such a leapfrog industrial layout and the way the whole industry chain intervenes, the industry is unparalleled.
At BYD, Wang Chuanfu, as the "soul" of hundreds of thousands of employees, usually has a clear thinking and firm action, which has become the key to ensuring the smooth operation and execution of BYD's huge machine. But he is also a stubborn person, and once identified, it is difficult to change things.
He once said in an interview with Forbes Chinese, "The market is like a battlefield, competition is like a war, and the general is very important, which requires entrepreneurs to take the lead." ”
Wang Chuanfu's idea of building a "soldier team" is also different from many entrepreneurs. Rather than hiring technicians from outside, Wang Chuanfu prefers to start training from scratch. Many BYD executives have a similar path: graduating from college and moving in from school to BYD; for them, BYD is not like a company, more like a continuation of the university, and the leader is more like a mentor. Under this model, BYD has cultivated a large number of R&D backbones and management.
BYD has a number of research institutes such as BYD Central Research Institute and BYD Electric Power Research Institute, mainly around the field of new energy, tens of thousands of young engineers, most of whom are trained by the company. Wang Chuanfu once said that BYD's greatest wealth is engineers. "Even if all the property, including land, plant, patents, and stocks, disappears, as long as these engineers are still there, they can make a comeback at any time."
In an interview, BYD executives revealed that Wang Chuanfu's management of the company is almost necessary.
Although a single decision is efficient, due to the lack of sufficient internal information support, sometimes the situation that Wang Chuanfu can obtain is not necessarily true and comprehensive, so the decision made may not be correct, and BYD has experienced many ups and downs.
Perhaps born in a family that is not rich since childhood, or perhaps the innate consciousness of technical people, the words "cost control" are almost engraved in the bones by Wang Chuanfu, and have become an important killer for BYD in many stages of development, but also become the limitation of its upgrade.
Contrary to the imagination of the outside world, BYD's initial success, the real competitiveness is not in the leading strength of technology, but in its production and research and development methods to maximize the advantages of China's labor force.
In 1992, it was not easy for BYD to intervene in capital-intensive industries such as nickel-cadmium batteries, and Wang Chuanfu chose a semi-automatic battery production method based on the tactics of the sea of people: using China's huge and low human resources, under the premise of ensuring product quality, by extending the battery production process and other manual substitution methods, to maximize the replacement of capital-intensive links.
This cost-saving model of "using manual replacement of machines" has allowed the company to form its own cost advantage and become a big killer for it and Japanese battery companies to seize market share.
After entering the automotive industry, BYD has also adopted a low-cost strategy in terms of production and sales. In terms of production, BYD insists on "buying better than self-made" in many products, from drive motors, three electrics, battery maintenance systems, power batteries, to frames, brakes, shock absorbers, and then to body interior assemblies, etc. Almost all are self-produced, so there are sometimes only more than 30 external suppliers of one of its cars.
In this model of buying is not as good as building, BYD has almost become an "all-round player". The company can span mobile phone batteries, OEM production, fuel vehicles and new energy vehicles in multiple subdivisions of manufacturing and product categories, proficient in technology and manufacturing, to a large extent also benefit from its own "comprehensive manufacturing capabilities". At the same time, in terms of automobile sales, BYD uses the method of branch network to expand the army and exert the potential of the terminal through the "sea of people store" tactic.
However, on the other side of the coin, the self-production and self-selling model also brings more burdens to research and development and production. Not relying on the outside means that the company needs to continuously invest costs to maintain technology research and development, but also to fully control internal production costs.
A big reason for this is that, compared with brand building, Wang Chuanfu, who is a major in the Department of Metallurgy, Physical Chemistry, prefers to pursue breakthroughs in technical indicators, such as 100 km acceleration, fuel consumption, battery mileage, charging time... For example, Wang Chuanfu once proposed the "542" technical strategy, that is, in the technical indicators of new energy vehicles to achieve 100 km acceleration of less than 5 seconds, full-time electric four-wheel drive, 100 km fuel consumption of less than 2 liters, this technical strategy was later used in a number of series of vehicles.
Whenever someone asks About Wang Chuanfu's strategy to promote BYD, Wang Chuanfu always replies, "We are the same in the field of electric vehicles, we must be strong and have faith." Of course, the first step is difficult, but someone has to go. We have a lot of pressure and a lot of difficulties, but we also see the light of day. ”
04
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"I think Chinese look down on the old problem of independent brands to change, because we have really changed now, I hope we can go to the store of independent brands to see, to open, and then to compare." We are trying, we are changing. Wang Chuanfu said.
Not long ago, on the Internet, Lei Jun was ridiculed by Wang Chuanfu: Internet companies should not build cars, you can't afford to play.
Of course, Wang Chuanfu still clarified: Instead of dissuading, he will also support it vigorously.
In fact, compared with Lei Jun, who suddenly "changed careers", Wang Chuanfu was actually qualified to accuse and persuade. After all, in the domestic car brand, Wang Chuanfu is a well-deserved "teacher".
The new forces of the Internet have entered the car-making circle, and Wang Chuanfu has thought about it. After all, in the face of Internet forces entering the manufacturing industry, Wang Chuanfu is facing the same situation as Dong Mingzhu and Lei Jun in 2013.
Electric vehicles were once suspected by the market and survived for 10 years. Even in 2020, when new energy is hot, BYD's fuel vehicle sales are still higher than that of new energy vehicles.
Victory is not survived, but also depends on fighting. The outlet of new energy vehicles is coming, and the domestic market competition is not over. In addition to traditional car companies, Weilai, Xiaopeng and Ideal even overshadowed BYD.
Li Bin, the godfather of travel, He Xiaopeng, founder of UC, and Li Xiang, founder of Autohome, these Internet circles of cross-border car-making upstarts, have money and resources, the key is that each one is a good "spoiler".
The new energy field has entered the "Warring States Era" from the "Spring and Autumn Period", but everyone is facing a new problem: in the next big era, who can stand firm? If only one person could be accommodated, who would it be?
Lei Jun chased the car, and so did Wang Chuanfu's challenge to the new forces of car-making.
In the past 20 years, the Internet has changed too much, and the impact and subversion of traditional industries are obvious to all.
Wang Chuanfu feels that Internet car manufacturing is good at traffic, and more companies can increase the penetration of electric vehicles.
If Xiaomi car manufacturing is the last dream that Lei Jun chased in his entrepreneurial career, then this dream also happens to be Wang Chuanfu's dream.
As the most potential representative of Internet car manufacturing, Xiaomi Auto is a price butcher, and there is no doubt that it will become an important opponent of BYD in the future, and the competition has already begun.
The contest between Wang Chuanfu and Lei Jun has actually formed a bet invisibly, an "industry gamble" about the new and old forces of new energy vehicles who will be the mainstream in the future.
Regardless of whether Wang Chuanfu has been persuaded to retreat, xiaomi car manufacturing is already a fact, and the competition between the new forces of Internet car manufacturing and traditional car companies, in the context of the acceleration of the popularity of electric vehicles, "encounter war" is sooner or later.
Wang Chuanfu stressed the importance of making the new energy vehicle market bigger: "Whether it is a new force in car building, a platform or a mobile phone, and after coming in (making a car), build an electric car." The market penetration rate of electric vehicles in China is only 12%, in fact, we need them to come in, use the traffic of mobile phones, do mobile phone fans, and some platform providers use its traffic and ecology to come in, persuade everyone not to buy fuel vehicles, to buy electric vehicles. Doesn't this cake get bigger? After getting older, how much you should cut depends on whose technology (good). ”
Wang Chuanfu believes that it is a good thing that so many players enter the new energy vehicle industry, and will slowly replace fuel vehicles, but then the competition in the market will become extremely fierce.
Different from the new forces, Wang Chuanfu is insisting on manufacturing and industry. Since its establishment for 26 years, BYD has always adhered to the manufacturing industry and has never been tempted by other things. In 2020, BYD's sales will be about 156 billion yuan, and its business areas will not only be automobiles and rail transit, but also electronics and oem. Manufacturing is a country's industrial foundation, although the gross profit in recent years is not high, but it has created a large number of jobs, so that China's industrial system is more dense and complete.
In 2020, the new crown epidemic suddenly broke out, and epidemic prevention materials were in short supply. As a representative of China's manufacturing industry, BYD took the initiative to stand up when the country was in difficulty, mobilized 30,000 engineers and 100,000 employees to produce masks, 3 days out of drawings, 7 days out of equipment, 10 days to achieve mass production, 24 days to achieve the world's first, the highest daily output of 100 million masks. BYD has made 1,800 mask production lines and 200 meltblown cloth production equipment to alleviate the supply pressure of domestic masks, which is also a social responsibility that BYD takes the initiative to assume.
When asked: "In the country, there are nearly 500 enterprises registered as new energy vehicles, and nearly 200,000 enterprises related to new energy vehicles. Now, the track of new energy vehicles is crowded, is BYD walking on thin ice, or is it 'letting the wind and waves rise and sit firmly on the Diaoyutai'? ”
Wang Chuanfu calmly replied: "New energy vehicles are already the outlet, everyone feels that the market is very huge, the market growth rate is very fast, they are all rushing up, they all break in." For BYD, for a company with core technology, it is not terrible, it should be pros and cons, mixed. ”
Therefore, so many players enter the outlet of new energy vehicles, there is a good side. The bad side is that the competition will be extremely fierce. At this time, who can win? First of all, the probability of survival of enterprises that master core technologies is higher. Secondly, we must have a precise strategy, long-term vision, new energy is a new thing, it has a lot of routes, if the technology and strategic direction is wrong, it may not only lose a lot of money, the key is to lose time. Third, there must be a rapid decision-making mechanism. The new energy iteration speed is fast, the market is like a battlefield, if you rely on writing reports, approvals, and review meetings to make decisions, then the battle cannot be fought. There are not many companies with these three points.
At present, BYD's new energy vehicle sales are rising, and it can sell 40,000 units in a single month in June last year, and its market share continues to increase. Based on the disruptive technologies and products of blade batteries and super hybrids, BASED has ushered in the spring of new energy vehicles based on so many years of persistence.
Some people asked, what exactly did Munger like about Wang Chuanfu? Because it was Munger who firmly persuaded Buffett to buy BYD and hold it firmly.
Today, there are two core reasons: First, he likes Wang Chuanfu and thinks that he is a combination of Edison and Welch, who understands both technology and management. Second, he believes that economic revitalization needs the power of new energy, and BYD electric vehicles and batteries coincide with this general trend. As a result, we have all seen that the BYD they hold has grown into a giant.
Here's the difference between a great investor and a regular investor. Great investors always see great investment value in weak companies, buying, holding, waiting, and getting excess returns. And Wang Chuanfu did not disappoint, continuing to lead BYD to a higher place.
Wang Chuanfu said that life is like climbing a mountain, and finding a mountain is a process of learning, in this process, learning to be steadfast and calm, learning how to find vitality from panic.
Today, Wang Chuanfu has the ability to "see through" the laws of life and economic operation, and this technical expert who must say that "I am a student of natural science" has seen many things very thoroughly.
As for Wang Chuanfu's new vision for BYD? He replied: "I believe that by 2025, BYD will take it to a higher level." ”
Some of the data sources:
"Forbes China Interview with BYD Wang Chuanfu" - Forbes official WeChat
"Interview with Wang Chuanfu: Before the Dawn of BYD" - Xinhua News Agency client
"Persuade Lei Jun not to build a car? Wang Chuanfu: Don't waste money and time" - Phoenix Technology
"Iron Fist" Wang Chuanfu, three turns in 24 years of entrepreneurship" - Sohu.com
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