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On August 5, Fortune magazine released the 2024 Global 500 list. The list shows that China has 133 companies on the list (including Taiwan), 9 fewer than last year. In contrast, the United States has 139 companies on the list this year, 3 more than last year, and the number of large companies ranks first among all countries.

In terms of automobiles, there are 37 automobile-related companies in the world that are shortlisted for the Fortune Global 500, of which 10 are Chinese automobile and auto parts companies. Fortune magazine believes that among the 15 fields in which Chinese companies are listed, the development of "automobiles and auto parts" is relatively outstanding.

Looking at the companies, SAIC Motor ranked 93rd, the only Chinese auto company to be among the top 100 of the Fortune Global 500, with revenue exceeding that of Germany's Bosch Group and Tesla; FAW Group ranked 129th, the second Chinese auto company on the list. BYD continued its strong growth momentum. After becoming the fastest-improving company last year, BYD's revenue this year increased from $63 billion to $85.1 billion, rising 69 places to 143rd among the Fortune Global 500, second only to SAIC and FAW among domestic auto companies.

In addition, GAC Group, Geely Holding Group, BAIC Group and Dongfeng Motor Group ranked 181st, 185th, 192nd and 240th respectively. CATL, a leading domestic power battery supplier, ranked 250th, marking the second consecutive year that the company has been shortlisted for the Fortune Global 500.

In addition to the above-mentioned Chinese automobile companies and parts companies that have been shortlisted for the Fortune Global 500 many times, Chery Automobile made the list for the first time this year, ranking 385th with a revenue of US$39.1 billion.

According to statistics, among the 33 automobile companies on the list in both 2023 and 2024, 28 have improved their rankings. The companies with the largest increases and decreases in rankings are all from China. Among them, BYD has the largest increase, from 212th last year to 143rd this year; Dongfeng Motor Group has fallen by 52 places.

Some analysts believe that electrification and intelligence have changed the competitive landscape of the traditional automobile market, allowing some Chinese automakers to gain differentiated advantages. On this basis, a number of Chinese automakers have launched a powerful overseas offensive and have achieved good results. These have helped Chinese automakers achieve a surge in sales and revenue.

Taking Chery, which is newly included in the list, as an example, the company's cumulative sales in 2023 were 1.881 million vehicles, of which 937,000 were exported; in the first half of this year, Chery's cumulative sales have reached 1.101 million vehicles, of which 532,000 were exported.

However, it should be pointed out that in the list of the world's top 500, there is still a clear gap between Chinese automakers and world-class automakers such as Volkswagen and Toyota. In this year's list of the top 100, only SAIC Motor made the list, and its ranking is relatively low (93rd); while Germany's Volkswagen, BMW, and Mercedes-Benz Group ranked 11th, 41st, and 42nd respectively; Japan's Toyota and Honda ranked 15th and 57th respectively.