Lu Xiangyang is included in the 'Perspective' section not because of his wealth legend as an early BYD investor, but because after success, he chose a harder path—leaving BYD's core management to delve into the uncharted lithium mining territory, spending a decade to anchor the upstream foundation for China's new energy industry. This choice reflects not a speculator's profit-taking but an industrialist's foresight. He saw the strategic importance of lithium mines for China's new energy sector and, with half a lifetime of perseverance, embedded his personal fate into the grand narrative of national industrial upgrading. His archive records how an industrialist, with vision and determination, made critical choices at a turning point of the era.
Lu Xiangyang was born in a rural family in Wuwei, Anhui. At 16, he entered a bank, securing an 'iron rice bowl'. In 1992, at 30, he resigned and went to Guangzhou, starting with textile trade and real estate, accumulating initial capital. In 1995, his cousin Wang Chuanfu approached him with lithium battery technology; Lu invested all 2.5 million RMB in BYD, becoming the second-largest shareholder. For six years, he was deeply involved, working alongside the team. After BYD's success, he chose to leave core management to focus on Rongje Group and venture into lithium mining, obtaining the Jiajika mine and building a complete industrial chain over a decade. [1]
Lu's business philosophy centers on 'identify the trend and bet firmly'. His investment in BYD was based on seeing the future of the lithium battery industry; his deep involvement in lithium mining stemmed from recognizing the importance of upstream resources for China's new energy industry. He gambled twice: once by investing his entire fortune in BYD, and again by venturing into the uncharted lithium mining territory after success. At Jiajika, facing altitude sickness, technical challenges, and lithium price crashes, he persisted for a decade, eventually building a complete industrial chain and filling the upstream gap for China's new energy sector. [1]
Lu is often labeled as 'Wang Chuanfu's cousin' or 'angel investor who lounged his way to billions', but he is more of an industrialist. His investment and perseverance anchored the upstream foundation for China's lithium battery industry, freeing China's new energy sector from dependence on foreign lithium resources. He and BYD have achieved mutual success. His story exemplifies the combination of personal choice and the logic of the times. [1]
The business proposition Lu Xiangyang leaves behind is: in industrial waves, how to identify and hold on to key upstream links. His two all-in gambles—investing in BYD and delving into lithium mining—both point to the same core: mastering core technology or resources to avoid being controlled by others. His significance lies in proving that Chinese industrialists can occupy key positions in the global industrial chain, using long-termism to resist short-term temptations. His archive offers a paradigm for future generations: true vision is not chasing trends but anchoring the foundation for an industry.