BYD and Huawei enter Top 100 as Xiaomi and Chery surge, while SAIC, FAW, and Dongfeng decline amid EV transition.
The 2025 edition of the Fortune Global 500 has been released, drawing significant attention to the performance of Chinese companies.
This year, including companies from Taiwan, a total of 130 Chinese companies made the list—three fewer than in 2024. If counting only Chinese mainland (including Hong Kong), the number is 124, down by four from 2024.
According to the list, excluding CRRC Corporation Limited (ranked 448), which lacks a passenger vehicle business, nine companies related to the passenger car industry appeared on the list.
These companies are BYD, SAIC, Geely, FAW, BAIC, Chery, GAC, Dongfeng, and CATL. In addition, Huawei and Xiaomi—two tech companies that have increasingly made their mark in the auto industry—also achieved strong rankings.
So how did their rankings change compared to 2024? Let’s take a closer look.
Huawei
Huawei ranked 83rd in the 2025 Fortune Global 500, up 20 places from 103rd in 2024.
This also marks Huawei’s return to the Top 100 after two years, thanks not only to the comeback of its smartphone business but also to the rapid growth of its automotive revenue.
In 2024, Huawei’s automotive business reached ¥26.353 billion ($26.35 billion), a staggering 4747.4% year-on-year growth, achieving profitability. With the continued development of the HIMA and the HI model, Huawei is expected to see even better results in 2025.
BYD
BYD ranked 91st in the 2025 Fortune Global 500, up 52 spots from 143rd in 2024.
Since first entering the Global 500 in 2022, BYD has seen consistent and dramatic ranking increases.
In 2023, BYD jumped from 436th (2022) to 212th, a rise of 224 places. In 2024, it rose another 81 places to 143rd.
These ranking surges are driven by rapid growth in sales and revenue.
In 2024, BYD sold 4.2721 million vehicles, generating ¥777.101 billion ($777.10 billion) in revenue, up 29.02% year-on-year.
In 2022 and 2023, BYD sold 1.8624 million (+155.1%) and 2.8774 million (+55.3%) units respectively, with revenues of ¥424.061 billion (+96.20%) and ¥602.315 billion (+42.04%).
SAIC Motor
SAIC ranked 138th in 2025, down 45 places from 93rd in 2024.
While SAIC emphasized that this marks its 21st consecutive year on the list and highlighted its notable achievements, the decline in rankings continues. The group is still balancing electrification with the legacy fuel vehicle business.
In the first half of 2025, SAIC sold 2.053 million vehicles domestically, up 12.4% year-on-year. Despite global challenges, overseas sales reached 494,000 units, up 1.3%.
Geely Group
Geely ranked 155th in 2025, rising 30 places from 185th in 2024.
Though not as fast as BYD, Geely has shown steady improvement in its rankings in recent years.
Its revenue boost is closely tied to the success of the Galaxy brand, which sold 494,400 vehicles (up about 80%), helping Geely reach ¥574.8 billion ($574.80 billion) in revenue, a 15.3% increase.
Premium brands Lynk & Co and Zeekr also contributed, delivering over 280,000 and 220,000 units respectively—up nearly 30% and 87% year-on-year.
FAW Group
FAW ranked 164th in 2025, down 35 places from 129th in 2024.
FAW has seen a significant drop from its 79th position in 2022 due to market transitions.
In response, the company began major internal restructuring last year, and results are starting to show: in H1 2025, FAW sold 1.571 million vehicles, up 6.1% year-on-year. Of those, 145,000 were new energy vehicles—up 95.5%.
BAIC Group
BAIC ranked 201st in 2025, down 9 places from 192nd in 2024.
This marks the 13th consecutive year BAIC has made the Global 500 list.
BAIC faces the same structural challenges as other traditional automakers and is actively seeking breakthroughs.
It has launched new models like Arcfox Alpha T5/S5 and STELATO S9, and plans to roll out the STELATO S9T and the new long-wheelbase electric Mercedes-Benz CLA.
Chery Group
Chery ranked 233rd in 2025, up 152 places from 385th in 2024.
Chery was the second-fastest climber among all Chinese companies on the list and the fastest-rising Chinese auto brand.
Its strategy? A robust overseas expansion.
In 2024, Chery exported 1.1446 million vehicles, up 21.4% year-on-year. It has ranked as China’s No.1 passenger car exporter for 22 consecutive years and, for the first time, surpassed ¥480 billion ($480 billion) in revenue.
GAC Group
GAC ranked 252nd in 2025, falling 71 spots from 181st in 2024.
Like Chery, GAC has appeared on the Global 500 list for 13 years in a row.
In 2025, GAC showed signs of transformation—GAC Toyota delegated decision-making to its Chinese unit, launched internal reforms, and adopted elements of Huawei’s model, reflecting a clear intention to reinvent the company.
However, the fast-evolving market and time-consuming internal changes raise doubts about whether GAC can successfully turn things around.
Dongfeng Motor
Dongfeng ranked 291st in 2025, down 51 places from 240th in 2024.
In recent years, Dongfeng has undergone multiple internal leadership changes. Most notably, it made headlines with the initial success of the Dongfeng Nissan N7.
According to senior executives, the N7 was the first vehicle jointly developed under the authority of the joint venture, with improvements in product strength, pricing, and marketing. It achieved monthly sales of 6,000 units.
Xiaomi
Xiaomi ranked 297th in 2025, rising 100 spots from 397th in 2024.
The launch of the Xiaomi SU7 in 2024 marked the beginning of Xiaomi’s “Human x Car x Home” ecosystem.
Industry consensus holds that Xiaomi EV’s debut elevated the company’s smartphone brand and corporate image.
In Q2 2024, its smart EV division posted ¥6.4 billion ($6.40 billion) in revenue during its first full quarter, with an adjusted net loss of ¥1.8 billion ($1.80 billion). In Q1 2025, losses narrowed significantly to ¥500 million ($0.50 billion).
In 2024, Xiaomi delivered over 135,000 vehicles, and its 2025 sales target is 300,000 units.
CATL
CATL ranked 303rd in 2025, down 53 places from 250th in 2024.
In 2024, CATL posted revenue of ¥362.013 billion ($362.01 billion), a 9.7% decline, while net profit rose 15.01% to ¥50.745 billion ($50.75 billion)—indicating diverging revenue and profit trends.
Intensifying global battery competition, dominance of LFP batteries, falling raw material prices, and geopolitical tensions have all slowed CATL’s growth.
To address this, CATL is building overseas factories and launching new products like Shenxing Gen 2 batteries and the “chocolate” swap system (a quick and convenient battery swapping service) to seek new growth paths.
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