![]() This coincided with the growth of mobile phones. In 1996, BYD began manufacturing lithium-ion batteries, the type that are in our modern day smartphones. It was founded with 20 employees and 2.5 million Chinese yuan of capital, or $351,994 at today's exchange rate. While BYD is now known as an electric car giant, its tentacles stretch into many areas from batteries to mining and semiconductors, which is a large reason behind its success.Ĭhemist Wang Chuanfu founded BYD in 1995 in the southern Chinese city of Shenzhen, China's massive tech hub. Asia markets inch higher as investors await Bank of Korea meet, inflation data this week
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