BYD is the largest electric vehicle manufacturer on the planet, ahead of Tesla. The owner of the company, billionaire Wang Chuanfu, 57, is called the “Chinese Elon Musk” due to his meteoric rise in the market. The company is also investing heavily in Brazil, betting on the growth of the electric vehicle market in the country.

BYD recently announced that it will build three plants in Brazil. Wang Chuanfu founded BYD in 1985.when the current billionaire was only 19 years old. Currently, with the growth of his company, Chuanfu’s net worth is estimated at US$19.9 billion. By comparison, Elon Musk, the current richest person in the world, is valued at $245.9 billion. That is, despite being called “Chinese musk,” Wang Chuanfu is still far from being the CEO of Tesla, SpaceX, and Twitter.

History of BID

The company was established in 1985 and is currently engaged in the production of environmentally friendly electric vehicles. Initially, the company produced batteries for cell phones and digital cameras. Wang Chuanfu worked as a researcher at the Main Research Institute of Nonferrous Metals until the early 1990s.

In the early 2000s, BYD batteries were present in equipment from Nokia, Dell, and Motorola. Since 2002, the company began to expand its services and supply materials for luxury cars. In 2003, BYD bought a majority stake in Xi’an Qinchuan Auto and began to change its manufacturing focus. For Wang Chuanfu, personal success is secondary, and the most important thing is to move the industry forward. “What [sucesso pessoal] it’s much less important. My ambition is to create a new industry“.

BYD Dolphin breaks sales record in Brazil

The electric vehicle market in Brazil has been surprised by the launch of the BYD Dolphin, a 100% electric model from the Chinese automaker. Just seven days after launch Dolphin conquered the national market and set a sales record for electric vehicles. On its first day of launch, the car hit the mark of one sale every two and a half minutes at BYD dealerships, with 146 units sold in just six hours.

The speed of sales continued in the days that followed, and in just four days, Dolphin outsold all other electric vehicle models available in the country in June, adding 771 units sold against 610 for other brands. As you can see, BYD should position itself in the segment as a strong company showing good results in the country.

The electric mountain bike has an impressive range of 290 km.
The Hysak E-MTB bike is the latest development of the Italian brand Olympia.

Source: Forbes

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