Key Stats
Wang Chuanfu holds the largest individual stake in BYD at approximately 17%, while Berkshire Hathaway previously maintained a strategic investment between 6-8% before completely exiting in September 2025. Chinese state institutions including the China Social Security Fund hold 2-3%, and public investors control around 60% through dual Hong Kong and Shenzhen stock exchange listings.
The electric vehicle manufacturer has transformed from a battery supplier into a global transportation leader. BYD sold over 3.6 million new energy vehicles in 2024 and continues expanding with production facilities in Hungary, Brazil, Thailand, and Indonesia. The company operates diverse subsidiaries including FinDreams Battery, BYD Electronics, BYD Semiconductor, and the luxury Yangwang brand, positioning itself as a comprehensive technology conglomerate rather than just an automaker.
History of BYD Co-founders
Wang Chuanfu’s Entrepreneurial Journey
Wang Chuanfu founded BYD in February 1995 after leaving his position as a researcher at the Chinese Academy of Sciences. Born in 1966 in Anhui province to a farming family, Wang studied metallurgical physical chemistry at Central South University, graduating in 1987 with a master’s degree. After the death of his parents, he was raised by his elder siblings while pursuing his education.
The company started with just 20 employees in Shenzhen, focusing on rechargeable batteries for mobile phones. Wang borrowed 250,000 yuan from his cousin Lu Xiangyang to launch the venture. This early capital proved sufficient to establish BYD’s initial manufacturing operations in the competitive battery market.
Building the Battery Empire
BYD quickly captured contracts with major technology companies. Motorola, Nokia, and Samsung became key customers for BYD’s rechargeable batteries. The company’s success stemmed from low manufacturing costs combined with strong research capabilities. By the early 2000s, BYD had secured major global market share in the mobile phone battery sector.
The company went public on the Hong Kong Stock Exchange in 2002. The pivotal moment came in 2003 when BYD acquired Qinchuan Automobile Company, marking its entry into car manufacturing. This strategic decision set the foundation for BYD’s transformation into an automotive powerhouse.
Who Owns BYD?
BYD operates as a publicly traded company with shares listed on both the Hong Kong Stock Exchange and the Shenzhen Stock Exchange. This dual listing structure creates diverse ownership across international and domestic Chinese investors. The ownership composition reflects a balance between founder control, institutional backing, and public participation.
Founder’s Commanding Position
Wang Chuanfu maintains approximately 17% ownership through direct holdings and BYD Industry Company Limited. This entity consolidates shares and strengthens voting power. His stake makes him the single largest individual owner, providing decisive control over company direction.
Beyond ownership percentages, Wang’s influence extends through his roles as chairman and CEO. His engineering background in battery technology directly informs product development strategies. The revolutionary Blade Battery and the decision to abandon gasoline vehicles entirely bear Wang’s strategic fingerprints.
Control Structure and Governance
BYD maintains a straightforward voting structure without dual-class shares. Unlike some technology companies that grant founders special voting rights, BYD follows a one share equals one vote principle. Wang’s control stems from his significant ownership combined with executive authority and board leadership.
Largest Shareholders of BYD
Berkshire Hathaway’s Investment Journey
Warren Buffett’s firm entered BYD in September 2008 through MidAmerican Energy Holdings. The initial investment of $232 million secured nearly 10% ownership at HK$8 per share. Charlie Munger, Berkshire’s vice chairman, identified the opportunity and credited Li Lu of Himalaya Capital for the introduction to Wang Chuanfu.
Over subsequent years, Berkshire Hathaway gradually reduced its position starting in 2022. According to Wikipedia, by September 2025, Berkshire had completely exited its BYD investment after a 17-year holding period that generated a 3,890% return. The reduced stake reflected portfolio diversification and profit-taking rather than concerns about BYD’s prospects.
Institutional Investment Landscape
The China Social Security Fund holds 2-3% of BYD shares, representing government interests without direct control. This state institution invests in sectors vital to national development, and their position signals official endorsement of clean energy priorities aligned with China’s environmental goals.
BlackRock, the world’s largest asset manager, maintains 1-2% ownership through various investment funds. Their involvement reflects growing global enthusiasm for sustainable investing and environmental, social, and governance considerations. Similarly, Vanguard Group holds approximately 1% via index products that track market indices rather than making active management decisions.
China Life Insurance maintains roughly 1% through its investment division. State-affiliated financial institutions like this provide stability and strategic support. The presence of these major institutional investors validates BYD’s business model and growth trajectory in the competitive electric vehicle market.
BYD Shareholder Distribution
Public Shareholder Base
Approximately 60% of BYD shares trade publicly across Hong Kong and Shenzhen exchanges. H-shares in Hong Kong serve international buyers, while A-shares in Shenzhen cater to domestic Chinese investors. This dual listing provides liquidity and enables diverse participation in BYD’s growth story.
Who is on the Board of Directors for BYD?
Executive Leadership
Wang Chuanfu serves as both Chairman and President, positions he has held since 2008 and 2002 respectively. His dual role ensures alignment between ownership, governance, and operational execution. Wang’s hands-on leadership style involves direct participation in research facilities and production operations, maintaining the company’s agile innovation culture.
Lu Xiangyang, Wang’s cousin who provided the initial startup capital, serves as Vice Chairman. His position recognizes his role as co-founder and early supporter. Lu has been Vice Chairman since 2008 and maintains involvement in corporate governance through his board position.
Financial and Operational Management
Zhou Yalin holds dual positions as Senior Vice President and Chief Financial Officer. She joined as CFO in 2019 and was promoted to Senior Vice President in 2021. Zhou oversees BYD’s financial strategy across its diverse business units including automotive, electronics, and battery divisions.
Zhou also serves as Chief Financial Officer of BYD Electronics International and as a director of BYD Semiconductor. Her responsibilities extend to BYD Auto Finance as Chairman and supervisor roles at BYD Toyota Electric Vehicle Technology joint venture. This cross-subsidiary leadership ensures financial coordination across BYD’s expanding business empire.
Technical and Strategic Directors
The board includes independent directors who provide governance oversight and strategic guidance. These directors bring expertise from various industries including technology, manufacturing, and finance. Their independence from daily operations allows objective assessment of management decisions and protection of shareholder interests.
BYD’s board structure reflects its evolution from a battery manufacturer to a diversified technology conglomerate. Directors oversee operations spanning electric vehicles, energy storage, semiconductors, electronics manufacturing, and public transportation systems. This breadth requires board members with varied expertise to effectively guide strategic decisions.
Regional Leadership Expansion
As BYD expands internationally, regional leadership has strengthened. Simon Bisp serves as Head of Customer Experience in the UK, appointed in 2025 to enhance the customer journey from inquiry to purchase. Andy Dolan joined as Head of Retail Sales in the UK in April 2025, supporting BYD’s rapid growth in what has become its largest market outside China.
These appointments reflect BYD’s commitment to building strong regional management teams. The company’s 880% year-over-year UK sales growth demonstrates the effectiveness of localized leadership. BYD sold over 35,000 vehicles in the UK through September 2025, cementing the market’s strategic importance.
FAQs
Is BYD owned by the Chinese government?
No, BYD is not owned by the Chinese government. Wang Chuanfu holds the largest stake at 17%, while state institutions like China Social Security Fund own only 2-3%, providing strategic support without controlling interest.
Did Warren Buffett sell his BYD stake?
Yes, Berkshire Hathaway completely exited its BYD investment in September 2025 after 17 years, generating a 3,890% return. Berkshire initially invested $232 million in 2008 for nearly 10% ownership before gradually reducing the position.
What companies does BYD own?
BYD owns several subsidiaries including BYD Auto, FinDreams Battery, BYD Electronics, BYD Semiconductor, and luxury brands Yangwang and Denza. The company also operates SkyRail transit systems and BYD Energy for solar and storage solutions.
How much of BYD does Wang Chuanfu own?
Wang Chuanfu owns approximately 17% of BYD through direct holdings and BYD Industry Company Limited. This makes him the largest individual shareholder with decisive control over company strategy and operations as chairman and CEO.
Does BYD supply batteries to other automakers?
Yes, BYD’s FinDreams Battery division supplies batteries to Toyota, Hyundai, and Tesla. The company produces the innovative Blade Battery using lithium iron phosphate technology and operates multiple gigafactories across China, Hungary, and Brazil.