Latest news with #BuildYourDreams
India.com
3 days ago
- Automotive
- India.com
Tesla Vs BYD: India new battleground! China's this person to crush Elon Musk's dream? he has been an expert in…
China's BYD (Build Your Dreams) has overtaken Tesla in global electric vehicle (EV) sales, but its presence in India is still limited. Now, with Tesla entering the Indian market, the country has become the latest battle ground for the rivalry between Elon Musk and BYD's founder Wang Chuanfu. According to some media reports China's BYD can outpace Musk on every front. Elon Musk's Tesla VS BYD In recent months, BYD has surpassed Tesla in global EV sales, delivering 380,000 cars worldwide, while selling just 500 units in India last month barely 0.1% of its global sales. Despite its relatively low profile in India, BYD's technology is considered highly advanced internationally. In China, its new models can charge in just 5 minutes and offer a range of over 500 kilometers, which is nearly 50 times faster than popular EVs like the MG ZS EV, according to investor Rahul Mathur. Journey Of BYD Wang Chuanfu, the founder and chairman of BYD, is known for his tireless work ethic and for working 70 hours a week. He commutes by car himself, and lives alongside workers in BYD's factories. Originally a battery manufacturer, Wang founded BYD in 1995, entered the automobile market in 2003, and launched his first EV in 2009. His vision is to make EV charging as quick and easy as refueling a petrol car. The late billionaire Charlie Munger, Vice Chairman of Berkshire Hathaway, once described Wang as a combination of Thomas Edison and Jack Welch. Berkshire invested $230 million in BYD in 2008, which has now grown over 15 times in value. BYD In India In 2022, BYD launched its Atto 3 SUV in India, which is assembled in Chennai. However, as of May 2025, BYD accounted for less than 4% of India's EV market share. Tesla, meanwhile, is preparing a major entry into India, hoping to compensate for its declining global sales by tapping into the fast-growing Indian EV market. But Wang Chuanfu can also block Musk at every turn. The Chinese businessman is preparing to deliver such a blow to Musk's Tesla that it would be hard for it to recover.
The Australian
4 days ago
- Automotive
- The Australian
BYD boss says Australia success key to global EV domination plans
The billionaire founder of a Chinese electric vehicle giant has declared Australia the ultimate proving ground, claiming local success is a 'signal to the world' the brand is ready to dominate the globe. Build Your Dreams (BYD) boss Wang Chuanfu made the claim in a rare and exclusive interview with News Corp Australia. Previously, Mr Chuanfu had never spoken with Australian media. The quietly spoken founder, chairman and president of BYD, made a surprise appearance in Melbourne this week to hand over the 60,000th BYD vehicle sold in Australia. It's a major milestone for an automotive brand. MORE: Massive car companies stop all US imports BYD Founder Wang Chuanfu says Australia is key to global EV strategy as the brand hits 60,000 sales. MORE: Car prices set to plummet Mr Chuanfu said Australia had become far more than just another sales market. 'Australia is a key market for the BYD Brand. It's a highly competitive, advanced automotive market with an educated customer that values innovation, safety, and sustainability,' he told News Corp Australia. He added that the brand's success wasn't just a sales win but a message. 'Success here is a signal to the world that BYD vehicles can meet and exceed the expectations of mature markets. The learnings we gain from Australia help shape our products and approach globally.' BYD has been rapidly rising through the ranks as one Australia's fastest-growing automotive players. Last month BYD achieved 8,156 monthly deliveries, up 386 per cent year-on-year and finished eighth overall in national sales. MORE: Iconic car quits Aus amid global collapse In June, BYD finished 5th overall in national sales. Picture: BYD MORE: $9.1bn slide: Car giant hits the wall The surge was largely due to the launch of the Shark 6 – the country's first plug-in hybrid ute. This year the brand's success continues, with 40,000 vehicle deliveries forecasted. Mr Chuanfu acknowledged local distributor EVDirect in helping build BYD's early momentum and praised Australian buyers for embracing BYD. 'Personally, it's very meaningful,' he said of the milestone. 'Our success in Australia would not have been possible without the strong partnership and commitment of EVDirect.' 'As our exclusive distributor, they have been instrumental in bringing BYD's vision to cool the Earth by 1°C to Australian customers. 'We are proud of what we have achieved together and look forward to continuing this successful collaboration as we enter the next phase of growth.' BYD Founder Wang Chuanfu, BYD Australia general manager Mr Wing You and BYD Asia-Pacific auto sales Mr Liu Xueliang arrive to a BYD dealership in Melbourne. Picture: BYD Founded in 1995, BYD began as a battery manufacturer before expanding into tech, rail and eventually electric vehicles. Today, it operates in more than 70 countries and employs more than 600,000 people worldwide. Its expansion has unsettled traditional players, especially as the brand continues to undercut rivals on price without compromising on features or safety. Currently, its Australian line-up includes the Atto 3, Dolphin, Seal, Sealion 6, Sealion 7 and Shark 6. Read related topics: China Ties Danielle Collis Journalist and Reporter Danielle's background spans print, radio and television, she has contributed to outlets such as The Age, ABC, Channel Nine and many more. For more than four years, Danielle has worked as Liz Hayes' producer and investigative journalist on her show 'Under Investigation', covering everything from corporate scandals to Australia's most baffling crime cases. Danielle's covered a range of topics from breaking news, politics, lifestyle and now motoring. Danielle Collis
Daily Telegraph
4 days ago
- Automotive
- Daily Telegraph
BYD boss says Australia success key to global EV domination plans
Don't miss out on the headlines from Motoring. Followed categories will be added to My News. The billionaire founder of a Chinese electric vehicle giant has declared Australia the ultimate proving ground, claiming local success is a 'signal to the world' the brand is ready to dominate the globe. Build Your Dreams (BYD) boss Wang Chuanfu made the claim in a rare and exclusive interview with News Corp Australia. Previously, Mr Chuanfu had never spoken with Australian media. The quietly spoken founder, chairman and president of BYD, made a surprise appearance in Melbourne this week to hand over the 60,000th BYD vehicle sold in Australia. It's a major milestone for an automotive brand. MORE: Massive car companies stop all US imports BYD Founder Wang Chuanfu says Australia is key to global EV strategy as the brand hits 60,000 sales. MORE: Car prices set to plummet Mr Chuanfu said Australia had become far more than just another sales market. 'Australia is a key market for the BYD Brand. It's a highly competitive, advanced automotive market with an educated customer that values innovation, safety, and sustainability,' he told News Corp Australia. He added that the brand's success wasn't just a sales win but a message. 'Success here is a signal to the world that BYD vehicles can meet and exceed the expectations of mature markets. The learnings we gain from Australia help shape our products and approach globally.' BYD has been rapidly rising through the ranks as one Australia's fastest-growing automotive players. Last month BYD achieved 8,156 monthly deliveries, up 386 per cent year-on-year and finished eighth overall in national sales. MORE: Iconic car quits Aus amid global collapse In June, BYD finished 5th overall in national sales. Picture: BYD MORE: $9.1bn slide: Car giant hits the wall The surge was largely due to the launch of the Shark 6 – the country's first plug-in hybrid ute. This year the brand's success continues, with 40,000 vehicle deliveries forecasted. Mr Chuanfu acknowledged local distributor EVDirect in helping build BYD's early momentum and praised Australian buyers for embracing BYD. 'Personally, it's very meaningful,' he said of the milestone. 'Our success in Australia would not have been possible without the strong partnership and commitment of EVDirect.' 'As our exclusive distributor, they have been instrumental in bringing BYD's vision to cool the Earth by 1°C to Australian customers. 'We are proud of what we have achieved together and look forward to continuing this successful collaboration as we enter the next phase of growth.' BYD Founder Wang Chuanfu, BYD Australia general manager Mr Wing You and BYD Asia-Pacific auto sales Mr Liu Xueliang arrive to a BYD dealership in Melbourne. Picture: BYD Founded in 1995, BYD began as a battery manufacturer before expanding into tech, rail and eventually electric vehicles. Today, it operates in more than 70 countries and employs more than 600,000 people worldwide. Its expansion has unsettled traditional players, especially as the brand continues to undercut rivals on price without compromising on features or safety. Currently, its Australian line-up includes the Atto 3, Dolphin, Seal, Sealion 6, Sealion 7 and Shark 6. Originally published as BYD boss says Australia success key to global EV domination plans
News.com.au
4 days ago
- Automotive
- News.com.au
BYD boss says Australia success key to global EV domination plans
The billionaire founder of a Chinese electric vehicle giant has declared Australia the ultimate proving ground, claiming local success is a 'signal to the world' the brand is ready to dominate the globe. Build Your Dreams (BYD) boss Wang Chuanfu made the claim in a rare and exclusive interview with News Corp Australia. Previously, Mr Chuanfu had never spoken with Australian media. The quietly spoken founder, chairman and president of BYD, made a surprise appearance in Melbourne this week to hand over the 60,000th BYD vehicle sold in Australia. It's a major milestone for an automotive brand. Mr Chuanfu said Australia had become far more than just another sales market. 'Australia is a key market for the BYD Brand. It's a highly competitive, advanced automotive market with an educated customer that values innovation, safety, and sustainability,' he told News Corp Australia. He added that the brand's success wasn't just a sales win but a message. 'Success here is a signal to the world that BYD vehicles can meet and exceed the expectations of mature markets. The learnings we gain from Australia help shape our products and approach globally.' BYD has been rapidly rising through the ranks as one Australia's fastest-growing automotive players. Last month BYD achieved 8,156 monthly deliveries, up 386 per cent year-on-year and finished eighth overall in national sales. The surge was largely due to the launch of the Shark 6 – the country's first plug-in hybrid ute. This year the brand's success continues, with 40,000 vehicle deliveries forecasted. Mr Chuanfu acknowledged local distributor EVDirect in helping build BYD's early momentum and praised Australian buyers for embracing BYD. 'Personally, it's very meaningful,' he said of the milestone. 'Our success in Australia would not have been possible without the strong partnership and commitment of EVDirect.' 'As our exclusive distributor, they have been instrumental in bringing BYD's vision to cool the Earth by 1°C to Australian customers. 'We are proud of what we have achieved together and look forward to continuing this successful collaboration as we enter the next phase of growth.' Founded in 1995, BYD began as a battery manufacturer before expanding into tech, rail and eventually electric vehicles. Today, it operates in more than 70 countrie s and employs more than 600,000 people worldwide. Its expansion has unsettled traditional players, especially as the brand continues to undercut rivals on price without compromising on features or safety. Currently, its Australian line-up includes the Atto 3, Dolphin, Seal, Sealion 6, Sealion 7 and Shark 6.
Mint
12-07-2025
- Automotive
- Mint
How China's BYD is squeezing suppliers in the EV price war
China's electric vehicle-makers are locked in a spiraling price war. Their suppliers say they are bearing the brunt. The country's biggest automaker, BYD, recently lowered the price of a starter electric vehicle to the equivalent of less than $8,000. To hit such low prices, suppliers say the company and others like it are squeezing them by demanding lower prices and dragging out payment periods. BYD, or Build Your Dreams, often pays suppliers at first with an electronic IOU it calls D-chain, after the Dreams in its name. The suppliers may wait for the better part of a year before the notes can be cashed in. Suppliers say such payment methods are a nightmare for cash flow. But they are falling into line, desperate to keep orders coming. Overcapacity and lackluster consumer demand are driving the trend. China's car business is one of many industries hit by a deflationary wave that threatens its economy as trade relations with the U.S. remain tense. The phenomenon has come to be known by the Mandarin word neijuan, which has become widely used to refer to a situation in which people work hard and compete fiercely without anyone getting ahead. 'Neijuan often arises when an economy experiences unexpected downturns, particularly during deflationary periods," said Jianwei Xu, a senior China economist at Natixis, a French investment bank. Chinese EV makers, stuck with big factories that they need to keep going, are 'trapped in neijuan," Xu said. Prices for goods leaving Chinese factories have fallen year-over-year for 32 consecutive months. Profit margins in China's auto-manufacturing industry nearly halved over the past decade to 4.3% in the first five months of 2025, according to government data. Lower prices might look nice to consumers, but the race to the bottom is corrosive for growth, economists say. Squeezed suppliers have little room to raise wages and insecure workers aren't likely to splurge on purchases. Suppliers say they are now asked for price cuts as often as once a month. Carmakers are tightening their audits and demanding information on what suppliers pay for materials. The carmakers ask suppliers to submit electricity bills, worker shift records and other cost data to justify their prices, suppliers say. And carmakers go to the suppliers' factories to check whether the reported number of workers on production lines is accurate. Frustrated with such practices, some auto suppliers have begun to speak up. Guo Chuan, chairman of KH Automotive Technologies, last month penned an open letter titled 'I Have a Dream," which went viral for capturing their concerns. 'I have a dream that one day in China's auto industry, leading automakers and large suppliers will have a social conscience," he wrote. In a survey by the China Automobile Dealers Association, 84% of dealers said they sold cars last year at prices lower than the wholesale prices they paid carmakers. Last November, BYD asked some suppliers to lower prices by 10% as the carmaker was negotiating contracts for 2025, according to a letter seen by The Wall Street Journal. 'Market competition will grow fiercer in 2025, ushering in a final showdown, a knockout round," BYD wrote, calling for a 'concerted effort from our entire supply chain to achieve sustained cost-cutting." In the past five years, BYD has sextupled its revenue. Over the same period, its accounts payable, notes payable and other payables—which analysts say are essentially the money it owes to suppliers—surged ninefold to $54 billion, accounting for two-thirds of its total liabilities at the end of last year. 'None of BYD's recent growth has been financed with conventional debt," said Nigel Stevenson, an analyst at Hong Kong-based GMT Research. Instead, he said, the company squeezed suppliers to make money available for new factories and equipment. BYD's accounts payable, notes payable and other payables have surged ninefold to $54 billion in the past five years. Large companies around the world often take advantage of their position to delay paying suppliers by a few months, but the payment periods are stretched out even further in China. BYD suppliers say they typically get something within a few months of sending a bill—but it is D-chain, the electronic IOU issued by a BYD finance subsidiary, rather than cash. The initial public offering prospectus of a BYD supplier, Guangdong Huazhuang Technology, offers a glimpse into the payment system. As of mid-2023, BYD accounted for a quarter of the revenue of the supplier, which makes auto parts such as brake-system controllers and cooling fans. The fast-growing company needed capital for a new factory and filed for an IPO in June 2023. One of its problems was poor cash flow. The company said it was receiving D-chain a month or two after its deliveries to BYD, which usually had a six- to eight-month term. Suppliers can sell the D-chain to a broker or bank, but that typically means losing a few percentage points of the face value to fees, say people in the industry. Stevenson, the analyst, pointed to an item on BYD's balance sheet labeled 'other external current accounts," which he said looks like a form of supply-chain financing. The item was included for the first time under liabilities in 2021, the year before the carmaker's subsidiary started issuing D-chain on a large scale. It ballooned to $20 billion by the end of last year, accounting for nearly a quarter of total liabilities. BYD's annual report doesn't say to whom the $20 billion is owed. The government has begun to show concern. In late June, China's legislature revised its competition law to add clauses that ban large companies from setting 'obviously unreasonable payment conditions" or forcing suppliers to sign exclusivity agreements. Chinese leader Xi Jinping has urged officials to crack down on neijuan. Officials are looking into the risks posed by financial instruments used by carmakers including D-chain, people familiar with the matter said. Under government pressure, more than a dozen Chinese automakers including BYD pledged in June to pay suppliers within 60 days of product deliveries—a pledge many suppliers are skeptical will be upheld. The government moves don't address the fundamental reasons for the price war, said Ernan Cui, an analyst at Gavekal Dragonomics. 'While the leading automakers are profitable, there is a long tail of struggling firms that should probably exit the market, yet continue to produce thanks to ample government and private-sector financing," she wrote in a recent research note. Write to Rebecca Feng at and Raffaele Huang at
