In today’s edition: Tapestry’s write-down, women’s baseball is back, and an EV exec you should know.
– Going global. In the latest issue of Fortune is a story about an exec you should know. Stella Li isn’t the CEO or founder of BYD (that’s Wang Chuanfu)—but she’s the face of the electric vehicle maker’s global expansion beyond China.
For those who are not immersed in the EV world, BYD is the biggest seller of battery-powered cars in the world—and what my colleague Vivienne Walt calls “Elon Musk’s worst nightmare.” BYD is increasingly a true competitor to Tesla. China produced 70% of EVs last year and American manufacturers made less than 10%. While tariffs may stall its expansion in the U.S., BYD’s global prospects are looking good. In this piece, Viv explores the company’s expansion in Europe.
Which brings us to Li. Her titles include executive vice president and CEO of BYD Americas and Europe. BYD was originally a battery maker, and Li was a statistician. Now, she’s behind a rapid global expansion that she describes: “From the first electric car to the first 1 million cars, it took us 13 years. Then, from 1 million to 3 million it took us 18 months. Now we are adding 1 million cars every two months.”
Driving a European expansion right now, she admires Europe’s history in auto. “European companies have a legacy; they have a lot of traditions,” she says. But she’s proud of what BYD has accomplished—and where that will take the industry in the future. “We were too small. Nobody looked at us,” she says of her first years at BYD. Now, “in China, we put all our money, all our R&D expenses, into [EVs].” She’s ready for it to pay off.
Read Viv’s full story—with much more about BYD’s European plans—here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Subscribe here.
ALSO IN THE HEADLINES
- Brand deal. Tapestry took an $855 million write-down on Kate Spade. The company's CFO blamed execution at the Kate Spade brand (I spoke with the brand's then-CEO in mid-2024.) Tapestry CEO Joanne Crevoiserat has had some successes, though, my colleague Phil Wahba writes in a new analysis. Coach is on the upswing. Fortune
- A league of their own. Women's professional baseball hasn't held tryouts in more than 70 years. The Women's Professional Baseball League is bringing the sport back with tryouts in D.C. later this month. Axios
- AI danger. A new report finds that policies for Meta's chatbot permitted sensual messages sent to children. Meta said it was an error and its policies have been updated. Reuters
- Climate change. Aviva CEO Amanda Blanc is standing by climate goals for the British insurer, which is affected by changing weather extremes. Shares are at a record high since the financial crisis, and even though climate efforts are facing growing pushback in both the U.S. and U.K., Blanc says they are still important for the company. Guardian
MOVERS AND SHAKERS
Executive search firm DHR Global promoted COO Priya Taneja to CEO.
SheerID added Kate Winkler to its board of directors.
ON MY RADAR
Michaela Coel on fame, finding love, and her follow-up to I May Destroy You British Vogue
How Family Ties and Three's Company saved Zarna Garg from an arranged marriage Wall Street Journal
Relocation fee to WNBA could sway the sale of the Connecticut Sun Front Office Sports
PARTING WORDS
"A more feminine way of writing, in my opinion, is like foraging. I’m aware of the stories that have come before me, the stories that are happening around me. I pick it up, I’m able to share it; I don’t put myself at the center."
— Pop star Rosalía on the cover of Elle
