Wang Chuanfu, chairman and president of BYD, was awarded the 2026 Rao Bin Award for the automobile industry at the 33rd annual conference of the Society of Automotive Engineers of China (SAE-China) held in Suzhou on October 28, according to NetEase Auto. The award, named after Rao Bin, often called the 'father of China's automobile industry,' honors entrepreneurs who have made outstanding contributions to the sector's development.
In his acceptance speech, Wang framed his career as a 'proof problem' for China's auto industry. 'I wanted to prove that China's new energy vehicles can succeed, and that China's automobiles can succeed,' he said. He credited the spirit of 'daring to fight and daring to win' passed down from Rao Bin and other pioneers, and stressed the responsibility of the current generation to push China from a large auto market to a strong one.
From batteries to global leadership
Wang's journey began in February 1995, when he led a team of about 20 people in a rented workshop in Shenzhen's Liantang area, starting with nickel-cadmium rechargeable batteries. In January 2003, he defied opposition to acquire a 77% stake in Xi'an Qinchuan Automobile for about 270 million yuan (about $38 million), marking BYD's entry into car manufacturing.
Under Wang's principle of 'technology first, innovation as foundation,' BYD built a vertically integrated supply chain covering batteries, electric motors, electronic controls, and automotive-grade semiconductors. The company introduced landmark technologies including the Blade Battery, the e-Platform, and DM hybrid systems.
BYD achieved several industry milestones under Wang's leadership. In 2022, it became the first automaker globally to officially cease production of fossil-fuel vehicles, a symbolic step in the industry's electrification shift. In 2025, BYD sold approximately 4.6 million new energy vehicles (NEVs), ranking first globally in NEV sales for the fourth consecutive year and entering the top five global auto groups by sales volume for the first time. That year, BYD's battery-electric vehicle (BEV) sales also surpassed Tesla's for the first time, making it the world's top BEV seller.
Recent innovations and brand expansion
In March this year, BYD launched its second-generation Blade Battery and flash charging technology, which briefly set a world record for the fastest mass-production charging speed. The company has also built a premium brand portfolio including Yangwang, Denza, and Fangchengbao, aiming to move upmarket while maintaining scale leadership.
The Rao Bin Award, established to commemorate Rao Bin's pioneering role in China's auto industry, has now recognized Wang Chuanfu as a leading entrepreneur in the new energy vehicle sector. The award ceremony highlighted the generational transition in China's auto industry, from solving the problem of 'having cars' to leading global transformation through electrification and smart technology.
