After stepping down from legal representative and chairman of BYD Lithium Battery, BYD’s founder Wang Chuanfu will also gradually resigned from all his positions in other units to simplify the administrative process, Yicai learned from the Chinese electric vehicle and battery giant.

BYD has recently changed legal representatives and chairpersons of some of its units to actual business managers to simplify their administrative processes, the Shenzhen-based firm told Yicai yesterday.

On Oct. 20, BYD Lithium Battery changed its legal representative and chairman to He Long, senior vice president of BYD and chairman of the company’s EV blade battery unit FinDreams Battery.

In recent years, Wang has stepped down as the legal representative of 42 BYD subsidiaries, including BYD Auto Industry, BYD Precision Manufacture, BYD Semiconductor, and Denza Automobile, according to corporate data platform Tianyancha. Wang still serves as the legal representative of 30 other units.

Founded in 1998, BYD Lithium Battery has a registered capital of nearly CNY6.2 billion (USD846.9 million), with business scope covering the research, development, and sales of household air conditioners and the development, production, and sales of lithium batteries, lithium manganese oxides, and power supply system.

BYD’s shares [SHE: 002594] were trading up 0.4 percent at CNY238.35 (USD32.57) as of 2.45 p.m. in Shenzhen today.