For the third consecutive year in the ranking, BYD climbs 69 positions and solidifies its position as the fastest-growing brand among all automotive companies in the category
(14/08/2024) - BYD, the world's leading manufacturer of electric vehicles, has been ranked 143rd on the Fortune Global 500. In 2023, greentech occupied 212th place in the ranking and 69-point rise solidified the company's status as the fastest growing brand among all automotive companies of the category, as well as keeping BYD in the ranking for the third consecutive year.
In 2023, BYD achieved unprecedented success with annual revenue of 602.32 billion yuan (the equivalent of R$460 billion at the current exchange rate) - an increase of 42% on the previous year. The company set a new record with the sale of more than 3 million electric vehicles last year, entering the top 10 best-selling car brands globally.
This is the first time a Chinese vehicle manufacturer has reached this milestone in the history of China's automotive industry. BYD continued its strong performance in 2024, with accumulated sales already surpassing the 1.9 million mark between January and July, ranking eighth among the world's best-selling automakers in the first half of this year.
This year BYD has accelerated its global expansion and, until last month, sales in foreign markets exceeded 233 thousand unitsalmost equaling the total foreign sales of 2023. In July, the company surpassed the mark of 8 million electrified vehicles produced in just three years. Today, BYD is present in 88 countries and regions, in more than 400 cities, with production bases in Brazil, Hungary and Uzbekistan, strengthening its global production and contributing to a green transformation of the automotive industry.
These achievements are driven by BYD's unwavering commitment to technological innovation. In 2023, R&D investment approached 40 billion yuan (R$30.57 billion), reflecting a significant increase of 97% over the previous year, bringing cumulative R&D investment to 140 billion yuan (R$107 billion). To date, BYD has applied for more than 48,000 R&D patents globally, of which more than 30,000 have been granted. With more than 100,000 R&D employees, BYD continues to provide robust technical support for the advancement of the new energy sector.
BYD's impressive rise in the Fortune Global 500 in 2024 highlights its role as a leader in the new energy vehicle industry. With continuous innovation and global expansion, the brand is not only transforming the automotive landscape, but also reinforcing its position as one of the leading companies in the sector. Committed to promoting sustainable mobility and set standards for the industry, BYD is well placed to continue its journey as a pioneer into the future.
