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On August 5, the 2024 Fortune Global 500 list was announced. This year, 133 Chinese companies made the list, and among the 15 fields in which Chinese companies were listed, the development of "automobiles and parts" was relatively prominent.

The list shows that 10 Chinese automobile and auto parts companies will enter the Fortune Global 500 in 2024, namely: SAIC, FAW, BYD, GAC, Geely, BAIC, Dongfeng, CATL, Chery, and Jardine Matheson Group.

Among these 10 companies, Chery made the list for the first time, ranking 385th with a revenue of US$39.1 billion. The rankings of the other nine companies mostly rose year-on-year, among which BYD rose 69 places, making it the automaker with the largest annual ranking increase in the entire list.

SAIC has been among the top 100 for 11 consecutive years, and Chery is on the list for the first time

SAIC Motor is still the leader and is the only Chinese automaker to rank among the top 100 of the Fortune Global 500. SAIC ranks 93rd among the Fortune Global 500 with a consolidated operating income of US$105.2 billion in 2023.

SAIC Motor was listed in the Fortune Global 500 for the first time in 2004 and in the top 100 for the first time in 2014. It has been in the top 100 for 11 consecutive years. Unfortunately, SAIC Motor's ranking dropped by 9 places from 84th place last year.

GAC, Dongfeng and Jardine Matheson Group also declined. GAC Group has been on the Fortune Global 500 list for 12 consecutive years and is now ranked 181st, down 16 places from the previous year; Dongfeng Motor Group Co., Ltd. has the largest drop, falling 52 places to 240th; Jardine Matheson Group ranks 421st, down 26 places from the previous year.

The rankings of FAW, BYD, Geely, BAIC and CATL have all risen.

FAW ranked 129th, up 2 places from last year; BYD jumped from 212th to 143rd; Geely Holding Group ranked 185th, up 40 places from last year, with revenue increasing from US$60.4 billion to US$70.4 billion; BAIC ranked 192nd, up 1 place from last year; CATL ranked 42 places higher to 250th.

It is worth mentioning that Chery Group, which made the list for the first time, ranked 385th with a revenue of US$39.1 billion.

Chery is one of the representatives of the rapid rise of Chinese independent brands in recent years. From 2021 to 2023, Chery Group's annual sales volume will reach 962,000, 1.233 million and 1.881 million vehicles, nearly doubling in three years; in 2023, one out of every three passenger cars exported from China will be from Chery. In the first half of 2024, Chery's car sales will exceed 1.1 million, a year-on-year increase of 48.4%, setting a record high.

New energy vehicle companies are climbing at an impressive speed, with BYD rising 69 places in one year

BYD and CATL have demonstrated the strong growth of China's new energy vehicle companies.

This year marks the third consecutive year that BYD has been listed on the Fortune Global 500 list, with its revenue increasing from US$63 billion last year to US$85.1 billion.

It is worth noting that among the 10 companies on the list, BYD is the fastest climber. BYD jumped from 212th place last year to 143rd place, 69 places higher than the previous year, making it the automaker with the largest annual ranking increase. Last year, BYD was the Chinese company with the largest ranking increase.

According to official data from BYD, BYD achieved annual revenue of 602.32 billion yuan in 2023, a year-on-year increase of 42%. BYD's new energy vehicle sales set a new record, with a total sales of 3.024 million vehicles throughout the year, and for the first time ranked among the top ten best-selling car brands in the world, becoming the first Chinese car brand to be shortlisted in the top ten in the 70 years of China's automobile industry.

From January to July this year, BYD sold a total of 1.947 million new energy vehicles, and once again ranked among the top ten best-selling car brands in the world in the first half of this year, ranking eighth, and its international influence is accelerating. BYD's overseas expansion is also accelerating. As of July, BYD's overseas sales have exceeded 233,000 vehicles, close to last year's full-year overseas sales.

This is the second time that CATL has made the list.

Last year, CATL entered the Fortune Global 500 for the first time with a revenue of US$48.8 billion, ranking 292nd. This year, CATL's sales revenue on the list increased from US$48.8 billion to US$56.6 billion, and its ranking rose 42 places to 250th.

CATL's revenue in 2023 was 409.917 billion yuan, a year-on-year increase of 22.01%; net profit attributable to parent company shareholders was 44.121 billion yuan, a year-on-year increase of 43.58%. In the first half of this year, CATL achieved operating income of 166.767 billion yuan, a decrease of 11.88% compared with the same period last year.