Wang Chuanfu is not afraid of throwing investors curveballs. In fact, the Chinese billionaire appears to relish it.
Twenty years ago, Wang unveiled plans for his BYD group to buy a failing state car manufacturer that had attempted to develop a sideline in making missiles.
His logic: rip out the petrol guzzling internal combustion engines from the cars and replace them with batteries. For BYD shareholders who thought they had invested in a more humdrum maker of batteries for mobile phones, the strategy “seemed loaded with nutty ambition”, according to an analyst.
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