(BRK.A), (BRK.B)
Berkshire Hathaway-backed BYD, the world’s leading manufacturer of new energy vehicles (NEVs) and power batteries, marked its 30th anniversary with a historic achievement: the roll-off of its 10-millionth NEV at the Xiaomo Production Base in Shenzhen-Shanwei. This milestone makes BYD the first automaker to produce 10 million NEVs, achieving the second 5 million in a record 15 months after taking 15 years for the first 5 million.
In a keynote speech at the event, BYD Chairman and President Wang Chuanfu reflected on the company’s transformation from a 20-person startup into a global corporation with nearly one million employees. Wang credited BYD’s success to its engineering-driven culture, relentless innovation, and commitment to shaping the future of mobility. “The soul of BYD’s engineers is the soul of our company,” he emphasized.
Looking ahead, Wang introduced the BYD Basic Guidelines, a strategic framework outlining the company’s principles, experiences, and forward vision. BYD plans to invest 100 billion yuan in integrating artificial intelligence with automotive technologies, enabling comprehensive upgrades across its vehicle lineup. This focus on innovation, sustainability, and cutting-edge technology aims to solidify BYD’s position as a global leader in high-tech and NEV industries.
© 2024 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.