Wang Chuanfu and a cousin founded BYD in 1995, originally as a cellphone-battery manufacturer. The company's move into automotive began after acquiring a failing automaker in 2003.
The BYD name, claimed to not stand for anything officially, was derived from Yadi, the village where it began; later, a slogan 'Build Your Dreams' was adopted.
Warren Buffett was a key early supporter of BYD, impressed by the company's clean battery technology, ultimately taking a stake of 25% after visiting the headquarters.
The company's initial strategy challenged established giants like Toyota and Sony with cheaper cellphone batteries, leading to partnerships with major brands like Motorola and Samsung.
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