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BAIC ranks 193rd on Fortune Global 500 list

chinadaily.com.cn | Updated: 2023-08-03 15:55

A BAIC Foton bus is seen near the Beijing Railway Station. [Photo provided to chinadaily.com.cn]

Chinese carmaker BAIC Group made it onto this year's Fortune Global 500 list released on Wednesday.

It ranked 193rd on the list with its operating revenue of 452.59 billion yuan ($62.93 billion) in 2022.

This marks the 11th time that the Beijing-based carmaker has been listed as a Fortune Global 500 company.

The State-owned auto manufacturer produces both passenger vehicles and commercials vehicles including trucks and buses.

It also has subsidiaries specializing in the production of automotive components.

BAIC is the Chinese partner of global automakers including Mercedes-Benz and Hyundai.

In the first half this year, BAIC Group sold 819,000 vehicles, up 22.2 percent year-on-year. It was over 10 percentage points higher than the industry average.

The carmaker is seeing its popularity grow in overseas markets, including Southeast Asia, the Middle East, Africa and Europe.

BAIC Foton, a truck-making subsidiary, has exported over 800,000 vehicles.

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