NEV GIANT SEEKS FURTHER GROWTH
Wang Chuanfu, Chairman of BYD, China’s largest new-energy vehicle (NEV) manufacturer, has predicted new-energy passenger cars will account for 70 percent of the country’s auto market by 2025. He made the prediction during a press conference held as the company’s 5 millionth NEV rolled off the production line on August 9.
Wang spent several years as a government researcher, until he entered the private sector and founded his own company BYD in 1995. Today, BYD ranks 212th on the Fortune Global 500 list.
In the first half of this year, BYD’s share in the domestic automotive market reached 10.6 percent, and its share in the NEV market was
