BYD, the world's leading manufacturer of New Energy Vehicles and Power Batteries, has made a significant jump on the Fortune Global 500 list, announced on August 5. For 2024, it is ranked No. 143, up from No. 212 last year. Η BYD is on the list for the third consecutive year, confirming its status as the fastest growing company among all the automakers listed in the category.
In 2023, BYD achieved unprecedented success, with annual revenue of 602.32 billion yuan - an increase of 42% compared to the previous year. The company set a new record by selling more than 3 million New Energy Vehicles (NEVs) last year, entering the top ten sales of the world's leading automakers. This was the first time a Chinese automaker achieved this feat in the history of the Chinese automotive industry. BYD continued its strong performance in 2024. With sales exceeding 1.9 million units from January to July, it ranked eighth among the world's top automakers for the first half of the year.
In 2024, BYD accelerated its global expansion. By June, sales in international markets exceeded 233,000 units, nearly equaling last year's total outside China. On July 4, 2024, BYD's 8 millionth New Energy Vehicle (NEV) rolled off the production line in Thailand, marking the official start of production at the local plant. Today, BYD has a presence in 88 countries and regions, in over 400 cities, with vehicle production plants also in Brazil, Hungary and Uzbekistan, enhancing the global appeal of its products and contributing to the global automotive industry's green transition.
These achievements are due to BYD's commitment to innovation and new technologies. In 2023, investment in R&D approached 40 billion yuan, an increase of 97% year-on-year, bringing total investment in this area to 140 billion yuan. So far, BYD has filed over 48,000 patent applications worldwide, of which more than 30,000 have been approved. With more than 100,000 personnel working in the R&D field, BYD continues to provide strong technical support to promote technologies related to New Energy Vehicles.
BYD's impressive rise to the 2024 Fortune Global 500 list underscores the company's role as a leader in the New Energy Vehicle industry. With continuous innovation and global expansion, BYD is not only shaping the automotive landscape but also reinforcing its position as a pioneer. Committed to advancing global green mobility and setting the standard in the automotive industry, BYD is in a position of strength to continue its pioneering journey into the future.
