On August 5, 2024, Fortune China released its 2024 Fortune Global 500 list, marking a significant milestone for Chery Holdings Group Co., Ltd. with a revenue of $39.0917 billion USD, placing it at 385th on the list. This not only signifies the addition of another Chinese company to the Fortune Global 500 but also heralds Chery as the leading Chinese automaker in terms of "going global."
The Fortune Global 500 list is renowned as one of the most prestigious and authoritative rankings for assessing the strength of large global companies. According to the list, it provides insights into the rankings of major companies from different countries, as well as changes in operational metrics such as revenue, return on assets, and overall productivity. The combined revenue of companies on the 2024 list amounted to approximately $41 trillion USD, a 0.1% increase from the previous year, with the entry threshold (minimum revenue) set at $32.1 billion USD. In total, 133 Chinese companies made the list, with their combined 2023 revenues totaling around $11 trillion USD.
Chery's debut on the list represents one of China's leading independent automotive brands. Starting from humble beginnings 27 years ago, Chery has experienced rapid growth during China's automotive boom and has undergone significant transformations to become today's Fortune Global 500 enterprise, boasting over 14.2 million global customers and operations in more than 80 countries and regions. It has pioneered a sustainable development path rooted in long-termism across economic cycles.
Currently, Chery Group is accelerating on a path of high-quality development: from 2021 to 2023, the group achieved annual sales of 962,000 vehicles, 1.233 million vehicles, and 1.881 million vehicles respectively, nearly doubling over three years. Chery has exported a cumulative total of 3.9 million vehicles, maintaining its position as China's top brand in passenger car exports for 21 consecutive years. In 2023, one out of every three Chinese passenger cars exported overseas was from Chery. As of the first half of 2024, Chery Group continued its rapid growth, selling over 1.1 million vehicles, a robust 48.4% increase year-on-year, achieving historical highs. Additionally,
Chery Group remains the only automotive enterprise in the industry to achieve growth in both new energy vehicles and fuel vehicles, as well as in both domestic and overseas markets.
Committed to global operations, Chery was one of China's earliest automakers to venture abroad. Over the past two decades, it has evolved from "going global" to "integrating into global markets" and then to "leading globally," guided by the philosophy of "In somewhere, for somewhere." Chery aims to be a contributor and enhancer of local economies and values, recognized as one of China's top 20 enterprises with the best international image for five consecutive years, pioneering a new model for Chinese enterprises to expand internationally. With the Fortune Global 500 as its new starting point, Chery Group will continue to uphold its strategy of advancing its brand, expanding into new markets, embracing future technologies, and integrating across the entire value chain, striving to build a world-class brand!
