Korean Media: BYD Named the World's Most Innovative Automotive Company!

On May 26, South Korean media outlet Chosun Economic published an article stating that China's BYD has been rated as the most innovative automotive company globally by the German Center for Automotive Management (CAM).

This marks the first time a Chinese enterprise has ranked first in an innovation-focused corporate ranking.

Data released by the German Center for Automotive Management shows that BYD scored 157 points in its innovation index, surpassing last year’s top-ranked Volkswagen Group, securing the number one position.

The Volkswagen Group and Mercedes-Benz Group followed with scores of 143 and 134 points, respectively, placing second and third. Next came XPeng Motors (128 points), BMW (111 points), Geely Automobile Group (103 points), Renault (61 points), Toyota (49 points), General Motors (43 points), and Hyundai Motor (42 points).

Since 2005, the German Center for Automotive Management has annually ranked companies through its Automotive Innovation Report.

The center explained that Chinese automotive groups have consistently strengthened their innovation capabilities, which is why BYD has now achieved the top spot for the first time.

The German Center stated: “The secret to success for Chinese automakers lies in the combination of future technology capabilities, rapid innovation speed, and low manufacturing costs.”

BYD also ranks first in innovation among mass-market brands, scoring 105 points—followed by Renault (59 points), Toyota (46 points), Nissan (39 points), and Hyundai (36 points).

According to the analysis by the German Center for Automotive Management, among the top 10 innovative mass-market brands, four are from China, two from Japan, two from the United States, one from Europe, and one from South Korea—no German brand made the top tier this year.

Regarding Chinese brands, the German Center added that Chinese automakers’ innovation capabilities have significantly improved since 2019.

The rise of Chinese automakers like BYD in these rankings seems also linked to their sales performance in Germany.

BYD sold approximately 9,120 units locally in Germany during the first quarter of this year, representing an increase of over 640% compared to the same period last year. With growing sales, BYD’s market share in Germany is expected to enter the top 20.

Original Source: toutiao.com/article/1866239754670218/

Disclaimer: This article represents the personal views of the author.