Not in his wildest dreams would Wang Chuanfu have imagined that his battery company would one day become one of the largest carmakers in the world. Or maybe he did. After all, to make it in the auto business that has long been dominated by legacy players needs someone who can dream big. Now, Wang’s BYD — literally “Build Your Dream” — has become one of the largest auto companies in the world. The Shenzhen-based carmaker on Monday (March 24) reported revenue of $107 billion for 2024, beating Tesla’s revenue of $97.7 billion for the year. And by selling 4.3 million electric and hybrid cars, it edged out Honda to become the sixth-largest automaker in the world by vehicle sales, according to research firm Inovev. Only Toyota, Volkswagen, Hyundai–Kia, General Motors and Stellantis (the parent-company of brands like Jeep, Chrysler, and Fiat) were ahead. How did BYD, once laughed at by Elon Musk, become the largest maker of electric cars in the world? Here’s the story. Story continues below this ad From battery maker to …