Wang Fengying

China’s automobile industry has staged a furious comeback after the coronavirus outbreak ravaged the country in the first quarter. Great Wall Motor, China’s top pickup maker, is contributing to the surge. Sales across all its brands increased 18% in September, though sales remain down 6% for the year. Wang’s ongoing effort to expand Great Wall overseas got a boost this fall, when the automaker agreed to acquire a General Motors production facility in Rayong, Thailand—its 11th full-scale automobile manufacturing base worldwide. At the same time, GWM’s proposal to acquire another GM manufacturing plant in India hit a roadblock as the Indian government tightened restrictions on foreign direct investment amid an ongoing military conflict with China; GWM’s proposal is now under government review. GWM has invested $2.5 billion in R&D in the past five years, and Wang pledged in May to pour another $4.5 billion into electrification, intelligent vehicles, and mobility technologies in the coming years. One high-tech project GWM plans to bring to market in 2023: hydrogen fuel-cell passenger cars.

Subscribe to The Broadsheet, our newsletter on the world’s most powerful women.