BYD Ascends to No. 143 in the 2024 Fortune Global 500

Shenzhen, China - BYD, the world’s leading manufacturer of new energy vehicles and power batteries, has made a substantial leap in the Fortune Global 500 list, unveiled on August 5th. Now ranked at No. 143, up from No. 212 last year, this marks BYD’s third consecutive year on the list and solidifies its status as the fastest-growing brand among all automotive companies named in the category.

In 2023, BYD achieved unprecedented success, with annual revenue soaring to 602.32 billion yuan—a 42% year-over-year increase. The company set a new record with over 3 million NEVs sold last year, breaking into the top ten best-selling car brands globally. This marked the first time a Chinese automaker achieved this milestone in the history of China’s automotive industry. BYD continued its strong performance in 2024, with cumulative sales exceeding 1.9 million units from January to July and ranking eighth among the best-selling car brands worldwide for the first half of the year.

This year, BYD accelerated its global expansion. As of last month, overseas market sales surpassed 233,000 units, nearly equaling last year’s total overseas sales. On July 4, 2024, BYD’s 8 millionth NEV rolled off the production line in Thailand, marking the official start of production at its Thai factory. Today, BYD finds its presence in 88 countries and regions, across over 400 cities, with production bases also established in Brazil, Hungary, and Uzbekistan, enhancing its global product prowess and contributing to the green transformation of the global automotive industry.

These achievements are driven by BYD’s unwavering commitment to technological innovation. In 2023, R&D investment approached 40 billion yuan, reflecting a notable 97% increase from the previous year and bringing the cumulative R&D investment to 140 billion yuan. As of now, BYD has globally applied for over 48,000 patents, of which more than 30,000 have been granted. With over 100,000 R&D personnel, BYD continues to provide robust technical support for advancing the new energy sector.

BYD’s impressive rise in the Fortune Global 500 this year underscores its role as a leader in the new energy vehicle industry. With ongoing innovation and global expansion, BYD is not only transforming the automotive landscape but also reinforcing its position as a front-runner. Committed to advancing global green mobility and setting industry standards, BYD is well-positioned to continue its pioneering journey into the future.