New Energy as Decade-Long Positioning Bet

"After switching to automobile manufacturing, it initially focused on electric vehicles, which represent the international green trend and the direction of the industry. In January 2006, BYD established the Electric Vehicle Research Institute, dedicated to the research and trial production of whole electric vehicles and components."

"⁠ In 2009, BYD planned to launch pure electric vehicles, realizing the dream pursued by the global automobile industry 20 years ahead of schedule. Without a doubt, BYD’s rapid success is like a financial fairytale, and the creator of this fairytale is the public’s view of a “technology fanatic,” BYD’s leader—Wang Chuanfu."

"On August 2007, during the BYD F6 launch ceremony, Wang Chuanfu made a surprising statement: "The future belongs to hybrid and electric vehicles, not gasoline cars. BYD plans to become China's number one car manufacturer by 2015 and aims to exceed 10 million sales by 2025, surpassing Toyota to become the world's number one.""