BYD has advanced to 91st place on the latest Fortune Global 500 list, marking a 52-position jump from the previous year and placing it ahead of U.S. rival Tesla, which now ranks 102nd, according to a report released on Tuesday.
The Fortune Global 500 ranks the world’s largest companies by revenue. This year’s edition reflects a combined $41.7 trillion in revenue and $2.98 trillion in profit across all listed firms, the report noted.
The new rankings highlight shifting momentum in the global electric vehicle (EV) sector. BYD’s rise comes amid continued efforts to expand internationally, including plans to introduce its Yangwang luxury brand to the European market in 2026. The company’s global push contrasts with recent challenges faced by Tesla, which has experienced declining sales across key markets.
Tesla’s European deliveries fell over 23%, while U.S. sales declined by 12.6%, including a 21% drop in California, its largest domestic market. The company’s market performance has been impacted by increasing competition and reduced demand.
Despite its gains on the global stage, BYD has also faced scrutiny. The automaker has been accused of inflating domestic sales figures through a practice of pre-insuring vehicles before customer delivery to meet internal targets. Additionally, BYD’s domestic sales have declined by 8%, as automakers in China continue to engage in aggressive price competition.