Why Berkshire Hathaway's Bet on Wang Chuanfu Could Reshape Global EV Competition

BYD’s 57-year-old founder Wang Chuanfu has quietly built an automotive empire that’s challenging Tesla’s electric vehicle dominance—and even drew praise from legendary investor Charlie Munger, who called him “better at actually making things” than Elon Musk.

From Battery Pioneer to EV Powerhouse

Wang Chuanfu’s ascent began in an impoverished village in Anhui province, where he overcame early family hardships through determination and education support from siblings. After working in Beijing’s government research sector focused on rare-earth metals for batteries, he took a calculated risk in 1995: founding BYD in Shenzhen with a friend’s loan.

The timing proved strategic. BYD became the first Chinese lithium-ion battery supplier to global giants Motorola and Nokia in the early 2000s, establishing deep expertise in energy storage before pivoting to automobiles. By 2003, the company acquired a failing state-owned automaker, and in 2008, it launched its first plug-in hybrid electric vehicle. This sequencing—dominating batteries first, then cars—positioned BYD to capitalize when China began subsidizing EV purchases.

The Buffett & Munger Validation

Warren Buffett’s Berkshire Hathaway made a decisive $230 million investment in BYD in 2008, signaling confidence in Wang’s vision during the company’s early automotive phase. More recently, Charlie Munger’s 2023 comments on the “Acquired” podcast offered striking validation: comparing Wang directly to Musk on manufacturing prowess, Munger highlighted Wang’s engineering excellence and famous 70-hour work weeks.

The Market Challenger

Today, Wang Chuanfu commands an estimated $15 billion net worth (roughly 19% of BYD), yet maintains a deliberately low profile—sharply contrasting Musk’s media presence. BYD’s competitive edge stems from three factors: relentless cost optimization, diverse affordable EV lineups, and aggressive competition with rivals like Nio and Xpeng that continuously push innovation boundaries.

Wang’s 2023 global expansion strategy—spanning auto shows, market launches, and state leader meetings across 60+ countries—signals BYD’s intention to contest Tesla’s international leadership. With third-generation EV launches anticipated, analysts expect BYD to further consolidate its position as a genuine global contender rather than merely a Chinese regional player.