Wang Chuanfu, Chairman and President of BYD, delivered a compelling message today at the 2023 ESG Global Leaders Conference in Shanghai. He called upon humanity to expedite its departure from fossil fuels, emphasizing the urgency of transitioning to sustainable energy sources to secure the future.
Mr. Wang acknowledged the historical significance of fossil energy, which has fueled human progress for over 260 years since the first industrial revolution. Nevertheless, he stressed that this reliance has come at a considerable cost to society.
According to Wang’s speech, humanity has already depleted almost half of the planet’s fossil energy resources. At the current consumption rate, coal will only last for another approximately 200 years, and oil for just 50 years.
“Once fossil energy is exhausted, our future generations will confront severe energy shortages,” Wang warned. “If we don’t reduce our dependency on fossil fuels, we risk running out of coal and oil in a few centuries, leaving us to ponder the fate of human society.”
In light of these concerns, BYD has long been committed to fostering change and promoting sustainable development through green technology and industry. Wang recounted BYD’s ambitious “green dream” introduced in 2008, which encompassed solar energy, energy storage power plants, and electric vehicles. The company established an integrated energy supply chain, spanning from acquisition and storage to application.
Through unwavering dedication, BYD has become the world’s largest producer of new energy vehicles (NEVs) and the second-largest manufacturer of power batteries. Notably, BYD ceased production of internal combustion engine vehicles in March 2022 and unveiled the world’s first zero-carbon headquarters for a Chinese auto brand in Pingshan, Shenzhen.
Wang Chuanfu stressed that corporate social responsibility extends beyond public welfare initiatives. He underscored the critical role of scientific and technological innovation in addressing global challenges, including the energy crisis, climate change, air pollution, and traffic congestion.
BYD’s commitment to sustainability is underscored by its recent achievements. In August, the company achieved a record-breaking 274,386 NEV sales, marking its seventh consecutive monthly increase. From January to August, BYD sold 1.79 million NEVs, comprising plug-in hybrids (PHEVs) and zero-emission battery electric vehicles (BEVs) in equal measure.
This surge in NEV sales has also bolstered BYD’s battery business. The company installed 58.1 GWh of power batteries from January to July, a notable 94.1 percent increase compared to the same period the previous year, securing a 16.0 percent share and ranking second globally, according to South Korean market researcher SNE Research.
