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BYD’s Billionaire Founder Seeks Overseas Buyers for His Monorail
- Chairman Wang sees monorail as solution to gridlocked cities
- Push into monorail business could help double BYD revenue
Wang Chuanfu.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
BYD Co. is in discussions with several countries about exporting its monorail system, as its Chinese billionaire founder Wang Chuanfu seeks a new avenue of growth amid rising competition to sell electric vehicles in the world’s biggest auto market.
Wang, who started BYD as a manufacturer of handset batteries, took to the stage to promote the company’s monorail system at an urban transportation conference in Mexico City on Thursday. Besides Mexico, countries like India, Brazil and Indonesia also share the similar conditions that make monorail an attractive option: big and densely-populated cities that are struggling with traffic congestion, Wang said in an e-mailed response to questions.