On May 11, Xinhua News Agency, China Brand Construction Promotion Association, China Asset Appraisal Association and other units jointly released the "2024 China Brand Value Evaluation Information" in Deqing, Zhejiang. With a brand value of 105.186 billion yuan, BYD ranks first in the field of automobiles and accessories.
It is reported that the China Brand Construction Promotion Association is subordinate to the State Administration for Market Regulation, and is the only national social organization engaged in brand work jointly initiated by the former General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China (now the State Administration for Market Regulation), the Ministry of Finance, the Ministry of Industry and Information Technology, the China Council for the Promotion of International Trade, and CCTV. "China Brand Value Evaluation Information Release" has been carried out for 11 consecutive years, which is an important measure to establish a brand value evaluation mechanism with Chinese characteristics, build positive energy of Chinese brands, and promote Chinese brands to the world, and is known as the gold list of Chinese brand value by the industry, with the number of brands participating in the evaluation reaching 1,034 in 2024, covering most of the leading enterprises in the industry.
For a long time, BYD has been practicing the mission and responsibility of Chinese auto brands with practical actions. In the past year, BYD's annual sales exceeded 3 million units, winning the global new energy vehicle sales champion, becoming the first Chinese auto brand to enter the top 10 in global sales, and ranking on the list of the world's most valuable auto brands by BrandFinance, ranking first among Chinese auto brands for three consecutive years, demonstrating the power of Chinese automobiles in the world. Behind the dazzling achievements is BYD's deep accumulation in the field of new energy vehicles, and the recognition of BYD's brand and technology by users. Adhering to the development concept of "technology is king, innovation is the foundation", BYD continues to increase R&D investment, with R&D investment of nearly 40 billion yuan in 2023 and more than 102,800 R&D personnel, making it the largest R&D company in the world, leading the global new energy vehicle revolution with innovation.
Under the guidance of the internationalization strategy, BYD actively deploys the global market and continues to promote China's new energy vehicles to the world, with overseas sales of new energy passenger vehicles exceeding 240,000 units, a year-on-year increase of 337%, becoming the Chinese brand with the largest export of new energy vehicles. As of April 2024, BYD's new energy vehicles have spread to 83 countries and regions including Japan, Australia, Brazil, Mexico, Germany, and the United Arab Emirates, and have achieved good results in multiple markets, becoming the "new business card" of Made in China.
The first place on this list is the trust and recognition of the BYD brand by the outside world. In the future, BYD will continue to promote the coordinated development of multiple brands and the global overseas layout, insist on driving the high-quality development of the brand with technological innovation, help the global automotive industry accelerate into the new energy era, and build a respectable world-class brand.