Aya Shawn
master in Computer Science, National University of Singapore
There are too many examples of this
Do you know BYD company?
In 2004, the company had only a few hundred employees, and they were mainly engaged in the production of mobile phone batteries. After acquiring an old car factory that was on the verge of bankruptcy. Their boss Wang Chuanfu was determined to buy back a ninth-generation Corolla sedan. Yes, it was the famous Toyota Corolla at the time.


Several college graduates and veteran workers dismantled this Toyota Corolla into parts, and then manufactured all the parts exactly like it. Because of the backward processing technology, they were unable to produce engines and manual transmissions of acceptable quality, so they purchased finished engines and transmissions from Mitsubishi. And assemble the shell and various parts made by yourself. In 2005, they produced BYD's first product, BYD F3. Its price is only 60% of the Toyota Corolla. Of course, its quality is far inferior to the Toyota Corolla.


In fact, many Chinese derided it as an "industrial garbage". After Toyota saw this car, they didn't even bother to sue them.
However, relying on this "industrial waste", BYD completed its primitive accumulation and invested a large amount of money in the fields of batteries and electric vehicle technology. They produced the first pure electric vehicle in 2006. At that time, Tesla was not yet established.


In 2023, BYD is currently the world's largest and highest-selling electric vehicle supplier. They just released one of their most advanced electric SUVs, the U8, which caused a sensation at the Tokyo Motor Show because of its revolutionary design (it can even turn around and drive on water).


Due to its huge success in the field of electric vehicles, BYD's market value has been equal to that of Toyota Motor. However, Toyota is still struggling in the wave of electrification transformation.