Gasgoo Munich- "Today is arguably the moment we are closest to becoming an automotive powerhouse."
Wang Chuanfu, chairman and president of BYD, received the 2026 Automotive Industry Rao Bin Award on October 28 at the opening ceremony of the Society of Automotive Engineers of China Congress and Exhibition (SAECCE) in Suzhou. He offered that outlook in his acceptance speech.
Image credit: SAECCE
Established in 2015 and named after a founding father of China’s auto industry, the Rao Bin Award honors those who have made outstanding contributions to the sector’s innovation. Past recipients include Li Gang, Chen Zutao, Li Shufu, Wei Jianjun, Yin Tongyue, and Zhu Huarong. Wang becomes the 11th person to receive the honor.
Taking the stage, Wang reflected on BYD’s three-decade journey.
BYD began as a battery maker in 1994 before crossing into the auto industry in 2003. New-energy vehicles were far from mainstream at the time, and BYD’s chosen tech path drew skepticism.
"We wanted to prove a point — that China’s new-energy vehicles can succeed, and that Chinese cars can succeed," Wang told the audience.
That proof didn't come easily. Wang admitted BYD survived moments when its funding chain nearly snapped, yet the company never wavered from its course. "No matter the hardship," he said, "if the vision and direction are right, you must hold the line."
Today, BYD stands as a major force in the global new-energy vehicle market. Wang revealed that as of October, the company’s headcount had surpassed 1.02 million — including roughly 60,000 overseas staff and 120,000 R&D engineers spanning core fields like batteries, motors, electronic controls, semiconductors, and software.
Even so, Wang credited the achievements of China’s new-energy vehicle industry to national strategy, policy support, and the collective efforts of the country’s automakers.
In his view, pioneers like Rao Bin built China’s auto industry from scratch. The historical task now falling to the current generation, he said, is turning the country from an automotive giant into an automotive powerhouse.
