Introduction to Titans Of The Automotive World
Have you ever wondered which car companies are the biggest in the world? Well, one way to find out is by looking at something called “market capitalization.” It’s like a measure of how much a company is worth in the stock market. In this blog, we’ll take a closer look at the 50 largest car companies based on market capitalization.
Think of it as a list that shows us which car companies are doing well financially. We’ll explore these companies and learn more about why they’re important in the car world. So, get ready for a journey into the money side of things as we uncover the top 50 automakers and discover what makes them stand out in the exciting world of cars!
Tesla | United States | Market Cap: $598.27 B
Tesla Inc (Tesla) is an automotive and energy company. It designs, develops, manufactures, sells, and leases electric vehicles, energy generation, and storage systems. The company produces and sells the Model Y, Model 3, Model X, Model S, Cybertruck, Tesla Semi, and Tesla Roadster vehicles. Tesla also installs and maintains energy systems, sells solar electricity; and offers end-to-end clean energy products, including generation, storage, and consumption. It markets and sells vehicles to consumers through company-owned stores and galleries. The company has manufacturing facilities in the US, Germany, and China and has operations across the Asia Pacific and Europe. Tesla is headquartered in Austin, Texas, the US.
Tesla has become the world’s most valuable carmaker, overtaking Japan’s Toyota, after its stock hit a record high.
Shares in the electric carmaker touched $1,134 on Wednesday morning before falling back, leaving it with a market value of $209.47bn (£165bn).
That is roughly $4bn more than Toyota’s current stock market value.
However, Toyota sold around 30 times more cars last year and its revenues were more than 10 times higher.
Shares in Tesla have surged since the start of 2020 as investors have begun to feel more confident about the future of electric vehicles.
As of January 2024, Tesla has a market cap of $608.07 Billion. This makes Tesla the world’s 10th most valuable company by market cap
Website: www.tesla.com
CEO: Elon Musk
HQ: Austin, Texas, USA
Toyota | Japan | Market Cap: $271.95 B
Toyota Motor Corporation, the Japanese parent company of the Toyota Group. It became the largest automobile brand and manufacturer in the world for the first time in 2008, surpassing General Motors. Many of its about 1,000 subsidiary companies and affiliates are involved in the production of automobiles, automobile parts, and commercial and industrial vehicles. Headquarters are in Toyota City, an industrial city east of Nagoya, Japan.
In 1933 Toyoda Kiichiro founded what later became the Toyota Motor Corporation as a division of the Toyoda Automatic Loom Works, Ltd. (later Toyota Industries Corporation, now a subsidiary), a Japanese manufacturer founded by his father, Toyoda Sakichi. Its first production car, the Model AA sedan, was released in 1936. The following year the division was incorporated as the Toyota Motor Company, Ltd., headed by Kiichiro. (The company’s name was changed to Toyota, which has a more pleasing sound in Japanese.) Toyota subsequently established several related companies, including Toyoda Machine Works, Ltd. (1941), and Toyota Auto Body, Ltd. (1945). During World War II the company suspended production of passenger cars and concentrated on trucks. Faced with wrecked facilities and a chaotic economy in the aftermath of World War II, the company did not resume making passenger cars until 1947 with the introduction of the Model SA.
As of January 2024, Toyota has a market cap of $271.95 Billion. This makes Toyota the world’s 37th most valuable company by market cap.
Website: https://global.toyota/en/ (global website)
CEO: Kōji Satō
HQ: Toyota, Aichi, Japan
Porsche | Germany | Market Cap: $75.74 B
Headquartered in Stuttgart, Porsche AG is a German automotive manufacturer known for producing sports cars, SUVs and sedans. Founded by Ferdinand Porsche, the company is now owned by Volkswagen Group. Porsche’s close association with Volkswagen dates back to the 1930s when Ferdinand Porsche designed the Volkswagen Beetle. Later in 1969, the two companies collaborated to make VW Porsche 914 and 914-6. One of the most successful models from Porsche’s line-up, Cayenne shares underpinnings with VW Touareg and Audi Q7. Porsche has been operating in India through its distribution channel since 2004 and is now officially present through Volkswagen Group as the importer. The company currently has a product portfolio comprising sports cars and SUVs.
Cars are made in every corner of the globe, but when it comes to Porsche, home is definitely where the heart is. The two main Porsche plants are in Germany – in the Zuffenhausen district of its hometown Stuttgart and in the city of Leipzig. Additionally, the Cayenne is built in Slovakia while a new local assembly for our SUV is about to open up in Malaysia, where Cayenne vehicles will be produced for the local market only. In China, a new, permanent research and development satellite is about to get up and running to help meet the demands of the biggest single market for the company.
As of January 2024, Porsche has a market cap of $75.74 Billion. This makes Porsche the world’s 203rd most valuable company by market cap.
Website: www.porsche.com
CEO: Oliver Blume
HQ: Stuttgart, Germany
Mercedes-Benz | Germany | Market Cap: $71.73B
Mercedes-Benz Group AG is one of the world’s most successful automotive companies. Mercedes-Benz AG, the Group is one of the leading global suppliers of high-end passenger cars and premium vans. Mercedes-Benz Mobility AG offers financing, leasing, car subscription and car rental, fleet management, digital services for charging and payment, insurance brokerage, as well as innovative mobility services.
The company founders, Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886.
Mercedes-Benz continues to invest systematically in the development of efficient powertrains and sets the course for an all-electric future: Mercedes-Benz Cars intends to go all-electric by the end of this decade wherever market conditions allow. Mercedes-Benz Vans targets an EV share of more than 50% by 2023. Shifting from electric-first to electric-only, the company is accelerating toward a fully electric and software-driven future. The company’s efforts are also focused on the intelligent connectivity of its vehicles, autonomous driving and new mobility concepts as Mercedes-Benz regards it as its aspiration and obligation to live up to its responsibility to society and the environment.
As of January 2024, Mercedes-Benz has a market cap of $71.73 Billion. This makes Mercedes-Benz the world’s 219th most valuable company by market cap.
Website: https://group.mercedes-benz.com
CEO: Ola Källenius
HQ: Stuttgart, Germany
BYD | China | $69.0B
Founded in February 1995, BYD is a high-tech company devoted to leveraging technological innovations for a better life. After more than 27 years of high-speed growth, BYD has established over 30 industrial parks across 6 continents and played a significant role in industries related to electronics, auto, renewable energy and rail transit. With a focus on energy acquisition, storage, and application, BYD offers comprehensive new energy solutions with zero-emission. As a company listed on both the Hong Kong Stock Exchange and Shenzhen Stock Exchange, its turnover exceeds RMB 200 billion.
BYD Co Ltd (BYD) designs, manufactures and sells rechargeable batteries, photovoltaic products, handset components and other electronic products. The company also offers whole product assembly services. It manufactures and offers traditional fuel-engine vehicles and new energy vehicles. The range of products developed by the company includes rechargeable batteries, photovoltaics, handset components, smartphones, laptops, notebook computers, game hardware and other consumer-related products. Automobile products include high-end, medium-end, and low-end cars, whole car moulds, auto parts, DM (dual mode) and pure electric vehicles. It offers its products and services to handset manufacturers, electric power tools and other portable electronic equipment manufacturers. The company operates across the US, Europe, Japan, India, Hong Kong and other regions. BYD is headquartered in Shenzhen, China.
As of January 2024, BYD has a market cap of $69.00 Billion. This makes BYD the world’s 239th most valuable company by market cap.
Website: www.bydglobal.com
CEO: Wang Chuanfu
HQ: Shenzhen, China
BMW Group | Germany | Market Cap: $67.76B
The BMW Group is the world’s leading provider of premium cars and motorcycles and the home of the BMW, MINI, Rolls-Royce and BMW Motorrad brands. We charted our course into the future long ago, placing sustainability and resource conservation at the heart of everything we do – from the supply chain and production through to the end of the use phase of all our products. What’s more, just like our cars, our services are all about the customer and make the perfect complement to our innovative mobility offering.
It originated in 1916 as Bayerische Flugzeug-Werke, a builder of aircraft engines, but assumed the name Bayerische Motoren Werke in July 1917 and began producing motorcycles in the 1920s. BMW entered the automobile business in 1928. The company’s R32 motorcycle set a world speed record that was not broken until 1937. During World War II BMW built the world’s first jet airplane engines, used by the Luftwaffe, Germany’s air force. After the war, the company tried to move into the small-car market but found that it could not compete effectively against Volkswagen’s compact, inexpensive autos. By 1959 the company was on the verge of bankruptcy, and its managers were planning to sell the firm to Daimler-Benz.
In that year, however, BMW pulled out of its financial slump; German entrepreneur Herbert Quandt acquired a controlling interest in the firm, and BMW introduced its 700 series, soon followed by the equally successful 1500 model. At about the same time, the company introduced a new series of motorcycles that were particularly popular in the United States.
BMW was firmly established as a premium automobile brand by the end of the 20th century. In a failed attempt to gain market share as a sport-utility vehicle company, BMW purchased the Rover Group in 1994 but lost roughly $4 billion before selling the Land Rover brand to Ford in 2000. BMW saw great success with the relaunch of the British MINI in 2001, however, and another British brand, Rolls-Royce, became part of BMW in 2003. Members of the Quandt family continued to hold a significant stake in the company.
As of January 2024, BMW has a market cap of $67.76 Billion. This makes BMW the world’s 248th most valuable company by market cap.
Website: www.bmwgroup.com
CEO: Oliver Zipse
HQ: Munich, Germany
Volkswagen | Germany | Market Cap: $66.05B
Volkswagen Group, a major German automobile manufacturer, was founded by the German government in 1937 to mass-produce a low-priced “people’s car.” The headquarters are in Wolfsburg, Germany.
The company was originally operated by the German Labour Front (Deutsche Arbeitsfront), a Nazi organisation. The Austrian automotive engineer Ferdinand Porsche, who was responsible for the original design of the car, was hired by the German Labour Front in 1934, and ground was broken for a new factory in the state of Lower Saxony in 1938. The outbreak of World War II in 1939 occurred before mass production could begin, and the factory was repurposed to produce military equipment and vehicles. Volkwagen’s military involvement made its factory a target for Allied bombers, and by the end of the war, the factory was in ruins. It was rebuilt under British supervision, and mass production of the Volkswagen began in 1946. Control of the company was transferred in 1949 to the West German government and the state of Lower Saxony. By that time, more than half of the passenger cars produced in the country were Volkswagens.
Volkswagen’s production expanded rapidly in the 1950s. The company introduced the Transporter van in 1950 and the Karmann Ghia coupe in 1955. The car began to gain acceptance there as the 1950s progressed, however, and Volkswagen of America was established in 1955. The American advertising agency Doyle Dane Bernbach was hired to represent the brand in 1959, and the result was a landmark advertising campaign that helped to popularize the car as the “Beetle” and promoted its size and unconventional design as an advantage to the consumer. The campaign was very successful, and the Beetle was for many years the most popular imported automobile in the United States. Although Volkswagen made many detailed changes to the Beetle, the basic rear-engine design and rounded shape remained the same. The company developed other rear-engine models with more modern styling and improved engineering, but none were as successful as the Beetle.
Joint ownership of Volkswagen by the West German government and the state of Lower Saxony continued until 1960 when the company was mostly denationalized with the sale of 60 per cent of its stock to the public. Since the 1950s Volkswagen has operated plants throughout much of the world, including in Mexico, Brazil, China, and the United States. In addition to passenger cars, the company also produces vans and commercial vehicles. Volkswagen owns several other automotive companies, including Audi and Porsche in Germany, SEAT (Sociedad Española de Automóviles de Turismo) in Spain, Škoda in the Czech Republic, Bentley in the United Kingdom, Lamborghini in Italy, and Bugatti in France.
As of January 2024, Volkswagen has a market cap of $66.05 Billion. This makes Volkswagen the world’s 259th most valuable company by market cap.
Website: www.volkswagen-group.com
CEO: Oliver Blume
HQ: Wolfsburg, Germany
Stellantis | Netherlands | Market Cap: $64.17B
Stellantis NV (Stellantis), formerly Fiat Chrysler Automobiles NV, is an automotive company, formed as a result of a merger with PSA Group. The company designs, engineers, manufactures, distributes, and sells vehicles, components, and production systems. It also provides retail and dealer financing, leasing, and rental services through its subsidiaries, joint ventures, and third-party financial institutions. Stellantis sells its vehicles under the Alfa Romeo, Citroën, Dodge, Fiat, Jeep, Chrysler and Vauxhall brands, among others. It markets related service parts and accessories, and service contracts under the Mopar brand; sells luxury vehicles under the Maserati brand; and operates a used car platform under the Spoticar brand. It operates in Europe, North and South America, Asia Pacific, the Middle East, and Africa. Stellantis is headquartered in Amsterdam, the Netherlands.
Naturally, the new automaker has far-flung operations. Like FCA, Stellantis is incorporated in Amsterdam but carries an official business address in London. Major operations span North America and Central America as well as Europe, and public shares are traded in the French, Italian and U.S. stock markets. Carlos Tavares, the new automaker’s CEO, is the former chairman of PSA Group.
As of January 2024, Stellantis has a market cap of $64.17 Billion. This makes Stellantis the world’s 271st most valuable company by market cap.
Website: www.stellantis.com
CEO: Carlos Tavares
HQ: Hoofddorp, Netherlands
Ferrari | Italy | Market Cap: $62.19B
Enzo Ferrari, a car enthusiast from Modena, Italy, worked for Alfa Romeo as a test driver and later founded the Scuderia Ferrari racing team in 1929, which served as a testing ground for his ideas and innovations. Enzo Ferrari left Alfa Romeo due to a disagreement over the direction of the company’s racing department. Despite the success of the Scuderia Ferrari racing team, which was sponsored by Alfa Romeo, Enzo felt that the company needed to be fully committed to racing and wanted to strike out on his own.
The agreement ending the association between Alfa Romeo and Enzo Ferrari forbade Ferrari from restarting Scuderia Ferrari within the next four years. The liquidation coming from Alfa Romeo helped Enzo to found his new company, Auto Avio Costruzioni, based in Modena, which focused on manufacturing aircraft parts and machine tools for the Italian government during the Second World War. In December 1939, AAC was commissioned by Lotario Rangoni Machiavelli, Marquis di Modena, to build and prepare two racing cars for him and Alberto Ascari to drive in an open-air race of the Mille Miglia. AAC created its first car, the Tipo 815. However, the 1940 Mille Miglia race was cancelled due to World War II. Despite this, the 815 remains an important part of the history of AAC and Ferrari as it marked the beginning of the company’s foray into the world of sports car manufacturing.
After the war, the demand for aircraft parts declined and Enzo Ferrari turned his attention to producing cars. In 1947, he founded Ferrari S.p.A and AAC were eventually merged into the new company. Focused on producing high-performance sports cars. Ferrari created its first road car, the 125 S, introduced in 1947, based on a modified Fiat chassis and powered by a 1.5-liter V12 engine. It was followed by several other iconic models, such as the 250 GTO and the 275 GTB in the 50s and 60s.
Throughout the 1960s and 1970s, Ferrari continued to dominate the racing world, winning numerous races and championships in 24 Hours of Le Mans and the Formula One World Championship with legendary drivers such as John Surtees, Niki Lauda, and Jackie Stewart. Ferrari has won more than 5,000 races, including 16 Constructors’ Championships and 15 Drivers’ Championships in Formula One. This success on the track helped to further cement Ferrari’s reputation as a manufacturer of world-class sports cars.
In the 1970s, Ferrari faced financial difficulties and was eventually acquired by Fiat in 1969, a leading Italian automaker. During this time, Ferrari continued to produce high-performance sports cars, such as the 308 GTB and the 512 TR.
Ferrari became a standalone company in 2016, following a spin-off from Fiat Chrysler Automobiles (FCA), which was a merger between Fiat and Chrysler. The spin-off allowed Ferrari to become its own independent company, with its management, board of directors, and stock listings on the stock exchange.
Ferrari is one of the most valuable and well-respected car brands in the world. With a rich history of innovation and performance, Ferrari continues to push the boundaries of what is possible in the world of high-end sports cars. Ferrari has a long-standing relationship with Pininfarina, an Italian car design firm responsible for creating some of Ferrari’s most iconic models. The company’s iconic logo is a black prancing horse on a yellow background, which was originally the symbol of Count Francesco Baracca, an Italian ace pilot during World War I.
As of January 2024, Ferrari has a market cap of $62.19 Billion. This makes Ferrari the world’s 277th most valuable company by market cap.
Website: www.ferrari.com
CEO: Benedetto Vigna
HQ: Maranello, Italy
Honda | Japan | Market cap: $53.89B
Honda Motor Company, Ltd., is a leading Japanese manufacturer of motorcycles and a major producer of automobiles for the world market. The headquarters are in Tokyo. Since 1959 it has been the top-selling motorcycle company in the world.
The engineer Honda Soichiro founded the Honda Technical Research Institute near Hamamatsu in 1946 to develop small, efficient internal combustion engines. It was incorporated as Honda Motor Company in 1948 and began producing motorcycles in 1949. The Honda C-100, a small-engine motorcycle, was introduced in 1953. In 1959 the company established a U.S. subsidiary, the American Honda Motor Company, which began producing motorcycles in the United States in 1979 and automobiles in 1982. In 1969 Honda introduced the popular CB750, the first “superbike,” which had a 750-cc engine, disc brakes, and an electric starter.
The 10,000,000th Honda vehicle made in North America rolled off the assembly line in Marysville, Ohio, on April 10, 2001.
While Honda is the world leader in producing motorcycles, the bulk of the company’s annual sales comes from automobiles, which the company began manufacturing in 1963. Its first cars were the T360 small truck and the S500 sports car. Among its lightweight, fuel-efficient passenger cars have been the popular Civic (1972– ) and Accord (1976– ) models; Honda also has the luxury car line Acura. The company’s other major product areas include farm machinery and small engines. Honda is a major Japanese exporter to the United States and other parts of the world. It also has assembly plants in several other countries and is engaged in joint ventures and technology licensing agreements with several foreign companies.
As of January 2024, Honda has a market cap of $53.89 Billion. This makes Honda the world’s 330th most valuable company by market cap.
Website: www.honda.com
CEO: Toshihiro Mibe
HQ: Minato City, Tokyo, Japan
General Motors | USA | Market Cap: $48.46B
General Motors (GM), is an American corporation that was the world’s largest motor-vehicle manufacturer for much of the 20th and early 21st centuries. It operates manufacturing and assembly plants and distribution centres throughout the United States, Canada, and many other countries. The company’s major products include automobiles and trucks, automotive components, and engines, and it is also engaged in financial services. GM’s headquarters are in Detroit.
Under the leadership of William C. Durant, the General Motors Company was founded in 1908 to consolidate several motorcar companies producing Buick, Oldsmobile, Cadillac, Oakland (later Pontiac), Ewing, Marquette, and other autos as well as Reliance and Rapid trucks. GM introduced the electric self-starter commercially in its 1912 Cadillac, and this invention soon made the hand crank obsolete. GM remained based in Detroit and was reincorporated and named General Motors Corporation in 1916. The Chevrolet auto company and Delco Products joined GM in 1918, and the Fisher Body Company and Frigidaire joined in 1919 (the latter was sold in 1979).
By 1929 General Motors had surpassed the Ford Motor Company to become the leading American passenger-car manufacturer. It added overseas operations, including Vauxhall of England in 1925, Adam Opel of Germany in 1929, and Holden of Australia in 1931. The Yellow Truck & Coach Manufacturing Co. (now GMC Truck & Coach Division), organized in 1925, was among the new American divisions and subsidiaries established. In 1931 GM became the world’s largest manufacturer of motor vehicles. By 1941 it was making 44 percent of all the cars in the United States and had become one of the largest industrial corporations in the world.
In December 2008 Pres. George W. Bush announced an emergency financial rescue plan to aid the “Big Three” automakers—Chrysler LLC, General Motors, and Ford—to prevent the collapse of the country’s struggling auto industry. The plan made immediately available $13.4 billion in government loans from the Troubled Assets Relief Program (TARP), a $700 billion fund approved by Congress to aid the financial industry following the subprime mortgage crisis.
However, GM’s strong rebound faced a setback in 2014, when it was revealed that for about a decade the company had covered up the fact that several car models had faulty ignition switches; it was believed that the defective part had caused more than 120 deaths. The company’s handling of the scandal—which was overseen by Mary Barra, GM’s first female CEO—was widely praised, and GM posted strong earnings, with record sales in 2014–16. However, its European division continued to struggle, and in 2017 GM sold Opel and Vauxhall to the PSA Group, the French manufacturer of Peugeot and Citroën automobiles. The move, which was valued at more than $2 billion, was seen as effectively ending GM’s European operations.
As of January 2024, General Motors has a market cap of $48.46 Billion. This makes General Motors the world’s 368th most valuable company by market cap.
Website: www.gm.com
CEO: Mary Barra
HQ: Detroit, Michigan, United States
Ford | USA | $46.23B
Ford Motor Company is an American automotive corporation that was founded in 1903 by Henry Ford and 11 associate investors. Emerging at the close of the American Industrial Revolution and fueled by the dynamic ethos of Gilded Age capitalism, Ford Motor Company revolutionized the automotive industry by mass-producing vehicles that were affordable to the masses and introducing the moving assembly line, an innovation that would transform the global manufacturing landscape.
Headquartered in Dearborn, Michigan, Ford—along with associated names such as Lincoln and Mercury (discontinued in 2011)—has remained one of the top automotive brands in the United States and around the world. Even in the face of sharp or prolonged economic crises, shifting consumer demand, and technological advances, Ford Motor Company has demonstrated a robust ability to adapt.
Ford’s moving assembly line marked a major innovation in manufacturing. It streamlined production, created incremental labour specialization, and significantly reduced the time and cost of production, allowing for the timely and efficient mass production of goods (in Ford’s case, automobiles).
The Ford Model T was the first affordable car mass-produced for the average U.S. consumer and marked a turning point in the history of transportation and the automotive industry. The Model T democratized vehicle ownership, transformed the way Americans travelled, and generally created a mobile society, greatly expanding geographical access for social and commercial purposes.
Ford remained at the forefront of automotive innovation through most of the 20th century, but the end of the century brought intense foreign competition (particularly from Japan) and a host of other economic quandaries—all of which threatened to displace Ford’s market position.
To counter these threats, Ford strategically shifted its production focus. In the 1980s and 1990s, the automaker prioritized designing and building fuel-efficient cars and trucks. From the late 2000s onward, Ford shifted its focus again to include environmentally sustainable and “smart” products, leading to the development of hybrid, electric, and self-driving vehicles.
As Ford struggled in the early 21st century, it began selling many of the acquisitions it made in the previous decade. Ford sold Hertz in 2005 and Aston Martin in 2007.
A defining economic moment during this period for Ford, along with almost every company in the U.S., was the financial crisis of 2008 (also referred to as the Great Recession), which caused a significant drop in vehicle sales and overall consumer spending. Ford sold Jaguar and Land Rover to Tata Motors Ltd. of India in 2008. The company began selling its Mazda shares that same year, and completely divested itself of the automaker in 2015.
In the early 2020s, Ford announced an electrification and R&D commitment of over $50 billion through 2026. A key part of this strategy is the electrification of several of its existing models: the Mustang Mach-E, F-150 Lightning, E-Transit, Electric Explorer, Electric Puma, E-Transit Custom, and E-Transit Courier. The company also said it was aiming to achieve a zero carbon footprint by 2050. Since its founding in 1903, Ford Motor Company has been a cornerstone of the American automotive industry and a pioneering innovator in mass production and manufacturing methods. Despite challenges from economic crises, competition worldwide, and technological advancements, Ford has continually adapted its products to meet the evolving demands of the global market.
As of January 2024, Ford has a market cap of $46.23 Billion. This makes Ford the world’s 388th most valuable company by market cap.
Website: https://corporate.ford.com/
CEO: Jim Farley
HQ: Dearborn, Michigan, United States
Maruti Suzuki India | India | Market Cap: $37.84B
One of the earliest memories of any middle-class 90s kid is sitting in a Maruti Suzuki 800 car and having the best day of their life. Back in those days, Maruti Suzuki played a huge role in making cars accessible to everyone in India. The automobile company entered the market in 1981 and created history with its unique models and services. Every house had a Maruti Suzuki car and the brand became the most-trusted automobile label in no time.
Maruti Suzuki India is a subsidiary brand of Suzuki Motor Corporation, Japan. According to the reports dated September 2020, the Japanese car company holds around 56.37% of the stakes in the company. A look at the share price history of Maruti Suzuki will show that the company has grown to be the largest passenger car company in India. It accounts for over 50% of the domestic car market in the country. Let’s dig a little deeper and learn more about the Maruti Suzuki cars, the history of the automobile brand and its success in India.
The need for cars grew rapidly in the 80s and Maruti Suzuki cashed on this opportunity by launching the company around the same time. The company started as a government commodity on 24 February 1981, with a mission to manufacture cars for middle-class Indians. Its major competitors were two other government-controlled automobile companies named Premier Automobiles Ltd (which had their popular car Premier Padmini) and Hindustan Motors Ltd (which made the Ambassador cars).
Launched as Maruti Udyog Ltd., Suzuki was a minor partner in the company initially. The business model changed a year later on 2 October 1982, when Maruti Udyog signed the license and a joint venture agreement with Suzuki Motor Corporation. This was just the beginning of a long-lasting and successful partnership.
Soon after the agreement, Maruti Suzuki cars started production in 1983. The first car that Maruti Suzuki launched and created history with was the Maruti 800. The car was so affordable that it instantly became popular. Even now, after so many years, you might spot this car on the Indian roads. The very first factory of Maruti Suzuki was established in Gurgaon, Haryana. For the first two years, the Indian company was committed to importing fully-built cars from Suzuki. Contrary to their plans, the imports later grew to include only 33% of the native parts.
Maruti wanted to start its manufacturing facility in India but feared that it would fail considering the small market here in the subcontinent. Many factors like inefficient local transport, increasing demands for fuel-efficient vehicles, petrol tax and excise duty also made them take a step back.
However, in December 1983, Maruti Suzuki India began its local production and introduced cars like the Suzuki Alto (SS30/SS40), Suzuki Fronte, and Alto-based Maruti 800.
1986 was a milestone year for the company. Its service across the country was increasing and the company had successfully manufactured its 100,000th vehicle in the same year as well. They also launched the new and powerful Suzuki Alto (SS80), a 796 cc hatchback, replacing the former Maruti 800 model. It also began its foreign export and shipped a lot of 500 cars to Hungary. India as a market was expanding and 1991 saw a big boom with the liberalisation of the economy. By this time, Maruti Suzuki had witnessed around 65 per cent of its components dominating the market. Hence, the company further increased its stakes in Maruti. The government-owned section, Maruti Udyog, became a 50-50 joint venture with the Government of India and the Japanese automotive company as stakeholders.
The automobile company crossed another milestone in 1994 as it witnessed the production of its 1 millionth vehicle. The company also inaugurated the second manufacturing plant and started its 24-hour on-road emergency vehicle service. On May 10, 2007, the Government of India decided to exit the country’s largest car maker company. It sold the residual stakes worth INR 2,360 crores to a cluster of financial institutions led by the Life Insurance Corporation. In July 2007, Suzuki decided to change its subsidiary’s name to Maruti Suzuki India Limited.
The company successfully sold its 10 millionth vehicle in February 2012. The shared history of Maruti Suzuki also looked flourishing. It had a market share of 45% in July 2014 and then in May 2015, the production number rose to 15 million. Maruti Suzuki Swift DZire was also launched in the same year.
The automobile brand has a wide range of cars to offer. From entry-level cars to contemporary hatchbacks and the chicest sedans, the company has it all. DZire, SX4, and Grand Vitara are some of the most popular cars by Maruti. The manufacturing, purchase, and sale of motor vehicles and their spare parts (automobiles) — all is taken care of by the company in India itself. The company is capable of manufacturing around 200 cars per day. It is also engaged in the financing of cars and the facilitation of pre-owned car sales fleet management. The company has 9 subsidiary companies in total. They also launched NEXA in 2015 and forayed into the operations of premium range cars.
As of January 2024, Maruti Suzuki India has a market cap of $37.84 Billion. This makes Maruti Suzuki India the world’s 494th most valuable company by market cap.
Website: www.marutisuzuki.com
CEO: Hishahi Takeuchi
HQ: New Delhi, India
Tata Motors | India | Market Cap: $37.56B
Tata Motors was founded in 1945, as a locomotive manufacturer. Tata Group entered the commercial vehicle sector in 1954 after forming a joint venture with Daimler-Benz of Germany. After years of dominating the commercial vehicle market in India, Tata Motors entered the passenger vehicle market in 1991 by launching the Tata Sierra, a sport utility vehicle based on the Tata Mobile platform. Tata subsequently launched the Tata Estate, the Tata Sumo and the Tata Safari.
Tata launched the Indica in 1998, a fully indigenous Indian passenger car tailor-made to suit Indian consumer needs styled by I.D.E.A, Italy. Although initially criticized by auto analysts, its excellent fuel economy, powerful engine, and aggressive marketing strategy made it one of the best-selling cars in the history of the Indian automobile industry. A newer version of the car, named Indica V2, was a major improvement over the previous version and quickly became a mass favourite. Tata Motors also successfully exported large numbers of cars to South Africa. The success of Indica played a key role in the growth of Tata Motors. In 2004, Tata Motors acquired Daewoo’s South Korea-based truck manufacturing unit, Daewoo Commercial Vehicles Company, later renamed Tata Daewoo. On 27 September 2004, Ratan Tata, the Chairman of Tata Motors, rang the opening bell at the New York Stock Exchange to mark the listing of Tata Motors. In 2005, Tata Motors acquired a 21% controlling stake in the Spanish bus and coach manufacturer Hispano Carrocera. Tata Motors continued its market area expansion through the introduction of new products such as buses and trucks.
In 2006, Tata formed a joint venture with the Brazil-based Marcopolo, Tata Marcopolo Bus, to manufacture fully built buses and coaches.
In 2008, Tata Motors acquired the English car maker Jaguar Land Rover, manufacturer of the Jaguar and Land Rover from Ford Motor Company. In April 2022, Tata AVINYA Concept: A NEW PARADIGM OF INNOVATION; Tata acquired full ownership of Hispano Carrocera in 2009. In 2009, its Lucknow plant was awarded the “Best of All” Rajiv Gandhi National Quality Award. In 2010, Tata Motors acquired an 80% stake in the Italian design and engineering company Trilix for €1.85 million. The acquisition formed part of the company’s plan to enhance its styling and design capabilities. In 2012, Tata Motors announced it would invest around $6 billion in the development of Futuristic Infantry Combat Vehicles in collaboration with DRDO.In 2013, Tata Motors announced it would sell in India, the first vehicle in the world to run on compressed air dubbed “Mini CAT”.
In 2014, Tata Motors introduced the first Truck Racing championship in India “T1 Prima Truck Racing Championship”.
On 26 January 2014, the Managing Director Karl Slym was found dead. He fell from the 22nd floor to the fourth floor of the Shangri-La Hotel in Bangkok, where he was to attend a meeting of Tata Motors Thailand. On 2 November 2015, Tata Motors announced Lionel Messi as global brand ambassador at New Delhi, to promote and endorse passenger vehicles globally. On 27 December 2016, Tata Motors announced the Bollywood actor Akshay Kumar as brand ambassador for its commercial vehicles range. On 8 March 2017, Tata Motors announced that it had signed a memorandum of understanding with Volkswagen to develop vehicles for India’s domestic market.
On 3 May 2018, Tata Motors announced that it sold its aerospace and defence business to another Tata Group Entity, Tata Advanced Systems, to unlock its full potential. On 29 April 2019, Tata Motors announced a partnership with Nirma University in Ahmedabad to provide a B.Tech. degree programme for employees of its Sanand plant. On 24 March 2020, Tata Motors Ltd announced that it would spin off its passenger vehicles arm as a separate unit within the company. On 5 March 2021, Tata Motors’ shareholders approved hiving off its passenger vehicles business into a separate entity. In August 2021, as a complimentary reward for Indian Olympians who finished close fourth in the Tokyo Olympics 2021 and missed the place for Bronze, the company planned to recognize the efforts by gifting an Altroz hatchback. On 23 August 2021, Tata Motors announced it would launch its mini SUV Punch in the ongoing festive season. On 30 May 2022, Tata Motors announced that it had signed an agreement to acquire a Ford India manufacturing plant in Sanand, Gujarat. Tata Motors agreed to pay 7.26bn rupees for the manufacturing plant.
As of January 2024, Tata Motors has a market cap of $37.56 Billion.
Website: www.tatamotors.com
CEO: Marc Llistosella
HQ: Mumbai, India
Hyundai | South Korea | Market Cap: $35.03B
Hyundai Group is a major diversified corporation in South Korea. The international company supplies a product line that ranges from ships to stereo equipment. The headquarters are in Seoul.
Hyundai began as a construction firm founded by Chung Ju Yung in 1947. The company operated in South Korea until 1965 when it initiated a road-building project in Thailand that marked the beginning of its growth into a multinational conglomerate.
In the firm’s first move outside the construction field, Hyundai in 1967 formed Hyundai Motor Company, which grew to become the country’s largest producer of automobiles. It exports cars and trucks throughout the Far East. The company moved into the shipbuilding market in 1973 with the formation of Hyundai Heavy Industries, which produces a variety of vessels, ranging from custom yachts to supertankers. The Hyundai Group also includes divisions that build and export diesel and electric locomotives, freight cars, and passenger coaches for the railroad industry, and offshore drilling and extraction equipment for the oil industry.
International exports range from heavy industrial equipment to consumer products and include cement, pianos, military uniforms, and consumer electronics products. Hyundai is represented on all continents but Australia, and has several international subsidiaries under its control.
Hyundai Motor Co (Hyundai) is an automobile company. The company designs develops, manufactures and distributes cars, trucks, buses, SUVs, MPV and hydrogen vehicles; and chassis, powertrains and automotive parts. Hyundai also provides vehicle financing and credit card processing services. Hyundai markets products under Veloster, Venue, Azera, i40, Elantra, Tucson, Accent, Kona, Creta, Sonata, i20, ix20 and other brands. The company strives to develop advanced technologies such as robotics and Advanced Air Mobility (AAM). It operates in North America and South America, Asia Pacific, Europe, and other regions. The company has manufacturing facilities in the US, Russia, China, Korea, Turkey, India, the Czech Republic and Brazil. Hyundai is headquartered in Seoul, South Korea.
Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan, South Korea which has an annual production capacity of 1.6 million units. The company employs approximately 75,000 people worldwide. Hyundai vehicles are sold in 193 countries through 5,000 dealerships and showrooms. As of 2022, Hyundai is the world’s third-largest carmaker in terms of production, only falling behind Toyota and Volkswagen.
As of January 2024, Hyundai has a market cap of $35.03 Billion.
Website: www.hyundai.com
CEO: Mr. Unsoo Kim (India)
HQ: Seoul, South Korea
KIA | South Korea | Market Cap: $29.16 B
On June 9, 1944, Kia Corporation was founded as a manufacturer of bicycle parts and steel tubing under the name ‘Kyungsung Precision Industry’, and this company also eventually produced the first domestic bicycle in South Korea. The name of South Korea’s first domestic bicycle was ‘the Samchully’, and it was produced by Kyungsung Precision Industry in the year 1951. Following many strategies and development plans in the company, Kyungsung Precision Industry changed its name to Kia Corporation in the year 1952. After changing the name of the company, Kia Industry also started to build and produce two-wheelers and four-wheelers (cars) licensed by other companies.
In 1974, after successfully working with these other companies’ licensed vehicles, the company opened its Sohari Plant, which was the company’s first integrated automotive assembly plant. The company’s operations were affected when the new military dictator Chun Doo-hwan enforced industry consolidation in 1981, but before that, the company was successfully building and selling the small Mazda-based Brisa range of cars. This small Mazda-based Brisa range of cars manufactured and built by Kia was very popular in the automobile market of South Korea. But when the industry consolidation was enforced by South Korea’s military dictator Chun Doo-hwan in 1981, Kia was forced to entirely focus on light trucks and give up the passenger cars business. Even after the enforced industry consolidation of 1981, Kia Corporation still managed to assemble a few more hundred cars in the next couple of years (1982 & 1983). However since the company was banned from officially building and manufacturing cars in the Korean market, the company built no passenger cars in 1984 and 1985.
In 1997, while facing an Asian financial crisis, Kia Corporation also declared itself bankrupt and started to look for investors and takeovers for the company. Finally, the company came to a common ground with Hyundai Motor Company, and according to this agreement of the company, the company agreed to diversify itself by the exchange of company ownership between these two companies. However, Hyundai Motors Corporation was not the only automaker company that showed its interest in the company. Ford Motor Company was the other automaker company that had been showing interest in the Kia Corporation since 1986, but Hyundai Motors Company outbid Ford Motors and acquired 51% stakes in the company. After further divestments made in the company, Hyundai Motors Company currently owns nearly one-third of the Kia Motors Corporation as per the agreement signed by both companies.
The Kia Corporation, in which Hyundai Motors Company held the major stake, is doing business in more than 35 countries all over the world. There are many subsidiaries of the company all over the world that are specially incorporated for handling the business of a particular region or country. Hyundai Motors Company also holds a major stake in all these subsidiaries of the company, but all these subsidiaries are managing their business individually. Recently, the company has also incorporated one more subsidiary, which is specially designed to focus on vehicles that are particularly designed for the defence sector.
As of January 2024, Kia has a market cap of $29.16 Billion.
Website: www.kia.com
CEO: Ho-Sung Song
HQ: Seoul, South Korea
Li Auto | China | Market Cap: $28.04B
Li Auto was founded in 2015 as a start-up company that designs, develops, manufactures, and sells new energy vehicles targeting the higher-end (and thus far, SUV) segment of China’s automobile market. The company’s mission is to “create a mobile home, create happiness” through providing premium mobility solutions in the format of family-oriented cars.
Li Auto released its first car (the Li ONE), an extended-range electric vehicle (EREV), at the end of 2019. The company prides itself on being a large-scale pioneer of EREVs in China and believes this to be an important differentiation factor that distinguishes Li Auto from other automobile brands.
Li Auto went public on NASDAQ in 2020 (NASDAQ: LI) and subsequently on the Hong Kong Stock Exchange in 2021 (HKEX: 2015).
As of December 2021, Li Auto has 206 retail stores (where potential and existing users can visit for vehicle check-ups, test drives, and order placements), 84 vehicle delivery centres, and 48 vehicle service centres across major cities in China.
In June 2022, Li Auto unveiled its second car and flagship “smart SUV” product, the Li L9. Deliveries of the Li L9 are anticipated to commence by the end of August this year.
Li Auto currently only has one car, the Li ONE, while a second, flagship car was recently unveiled last month.
The Li ONE is a six-seater EREV SUV and Li Auto’s first car model. Management describes the Li ONE’s selling points as having a long-range (relative to pure EVs) and high engine performance while maintaining efficient energy consumption and benefiting from flexible power supplies. Specifically, the Li ONE has a range of 890km to 1,080 km (from a purely electrically powered range of 188km), and the vehicle can continue running without any access to electrical charging infrastructure so long as it has petrol to power the fuel-conversion generator.
The Li ONE is equipped with advanced, in-house developed software and premium features which management claims are typically only available in cars that sell at a much higher price point.
As of January 2024, Li Auto has a market cap of $28.04 Billion.
Website: www.lixiang.com
CEO: Xiang Li
HQ: Beijing, China
Mahindra and Mahindra | India | $24.49 B
Mahindra & Mahindra was founded as a steel trading company on October 2, 1945, in Ludhiana as Mahindra & Muhammed by brothers Harikrishnan and Jayakrishnan and Jagdish Chandra Mahindra along with Malik Ghulam Muhammad. Anand Mahindra, the present Chairman of Mahindra Group, is the grandson of Jagdish Chandra Mahindra. After India gained independence and Pakistan was formed, Muhammad emigrated to Pakistan. Muhammad acquired Pakistani citizenship and settled in Lahore, and 1948 became Pakistan’s first finance minister. Thereafter, the company changed its name to Mahindra & Mahindra in 1948. It eventually saw a business opportunity in expanding into manufacturing and selling larger MUVs, starting with the assembly under the licence of the Willys Jeep in India. Soon, the company was established as the Jeep manufacturer in India, M&M later commenced manufacturing light commercial vehicles (LCVs) and agricultural tractors.
Over the past few years, the company has taken an interest in new industries and foreign markets. They entered the two-wheeler industry by taking over Kinetic Motors in India.
M&M took a 55% stake in the REVA Electric Car Company in 2010 and renamed it Mahindra Electric in 2016 following taking 100% ownership.
South Korea’s SsangYong Motor Company was acquired in 2011. In 2010–11 M&M entered into micro drip irrigation with the takeover of EPC Industries Ltd in Nashik.
In October 2014, Mahindra and Mahindra acquired a 51% controlling stake in Peugeot Motorcycles and acquired a 100% controlling stake in October 2019.
In December 2015, Mahindra and Mahindra Ltd and affiliate Tech Mahindra Ltd, through a special purpose vehicle (SPV), agreed to buy a 76.06% stake in Italian car designer Pininfarina SpA, for €25.3 million (around Rs.186.7 crore). In January 2017, Mahindra and Mahindra Ltd acquired a 75.1 equity stake in Hisarlar Makina Sanayi ve Ticaret Anonym Şirketi (Hisarlar), a farm equipment company, marking its entry into Turkey and in September 2017 acquired another Turkish tractor and foundry business Erkunt Traktor Sanayii AS for ₹800 crore.
In October 2019, Mahindra entered into a joint venture with Ford by establishing Ford India in which Mahindra & Mahindra acquired a controlling 51% stake.
In April 2020, the company ended its joint venture with Renault, with Mahindra & Mahindra buying out Renault’s stake. Renault continues to license and supply key components such as engines and transmissions to Mahindra & Mahindra.
As of January 2024, Mahindra & Mahindra has a market cap of $24.49 Billion.
Website: www.mahindra.com
CEO: Anish Shah (Group CEO)
HQ: Mumbai, India
SAIC Motor | China | Market Cap: $22.11B
SAIC Motor is the largest auto company listed on China’s A-share market (Stock Code: 600104). As a leading automaker in China, SAIC Motor is striving to lead the industry’s development trends, accelerate innovation and transformation, and evolve from a traditional manufacturing enterprise to a comprehensive provider of auto products and mobility services.
Currently, SAIC Motor’s main businesses cover the R&D, production and sales of both passenger and commercial vehicles. Targeting the carbon peaking and carbon neutrality goals, and the new trends in the automotive industry, SAIC Motor has beefed up its efforts to bolster the development of NEVs and ICVs. SAIC Motor is also engaged in the R&D, production, and sales of auto parts, (including power drive systems, chassis, interior and exterior trims, and the core components and smart product systems of NEVs such as batteries, electric drives and power electronics), auto-related services such as logistics, e-commerce, energy-saving and charging technology, and mobility services, auto-related finance, insurance and investment, overseas business and international trade, big data and artificial intelligence.
SAIC Motor’s subordinate companies include IM MOTORS, SAIC Passenger Vehicle Branch, Rising Auto, SAIC Volkswagen, SAIC General Motors, SAIC-GM-Wuling, SAIC Maxus, NAVECO, SAIC LDT and Sunwin.
In 2022, SAIC Motor sold more than 5.3 million vehicles, ranking first in China for 17 years in a row; sales of the carmaker’s self-owned brands exceeded 2.78 million units, accounting for 52.5 percent of its total sales; sales of its new energy vehicles (NEVs) exceeded 1.07 million units, up 46.5 percent year-on-year; while its overseas sales hit a record high of over 1.01 million units, up 45.9 percent year-on-year, helping it retain the top spot among China’s carmakers for seven consecutive years. SAIC Motor became the first Chinese carmaker with both its annual NEV sales and overseas sales exceeding one million.
In August 2023, business magazine Fortune released its latest Global 500 list, and SAIC Motor ranked 84th with a total revenue of $110.6 billion, continuing to lead Chinese auto companies on the list. SAIC Motor made the list for the first time in 2004, and ranked in the top 100 in 2014. Since then, it has remained among the top 100 for ten consecutive years.
As of January 2024 SAIC Motor has a market cap of $22.11 Billion.
Website: www.saicmotor.com
CEO: Mr. Chen Hong
HQ: Shanghai, China
Suzuki Motor | Japan | Market Cap: $21.54B
In 1909, Michio Suzuki founded the Suzuki Loom Company in the small seacoast village of Hamamatsu, Japan. Business boomed as Suzuki built weaving looms for Japan’s giant silk industry. Suzuki’s only desire was to build better, more user-friendly looms. For the first 30 years of the company’s existence, its focus was on the development and production of these exceptionally complex machines.
Despite the success of his looms, Suzuki realized his company had to diversify and he began to look at other products. Based on consumer demand, he decided that building a small car would be the most practical new venture. The project began in 1937, and within two years Suzuki had completed several compact prototype cars. These first Suzuki motor vehicles were powered by a then-innovative, liquid-cooled, four-stroke, four-cylinder engine. It featured a cast aluminum crankcase and gearbox and generated 13 horsepower from a displacement of less than 800cc.
With the onset of World War II, production plans for Suzuki’s new vehicles were halted when the government declared civilian passenger cars a “non-essential commodity.” At the conclusion of the war, Suzuki went back to producing looms. Loom production was given a boost when the U.S. government approved the shipping of cotton to Japan. Suzuki’s fortunes brightened as orders began to increase from domestic textile manufacturers. But the joy was short-lived as the cotton market collapsed in 1951.
Faced with this colossal challenge, Suzuki’s thoughts went back to motor vehicles. After the war, the Japanese had a great need for affordable, reliable personal transportation. A number of firms began offering “clip-on” gas-powered engines that could be attached to the typical bicycle. Suzuki’s first two-wheel effort came in the form of a motorized bicycle called, the “Power Free.” Designed to be inexpensive and simple to build and maintain, the 1952 Power Free featured a 36cc two-stroke engine. An unprecedented feature was the double-sprocket gear system, enabling the rider to either pedal with the engine assisting, pedal without engine assist, or simply disconnect the pedals and run on engine power alone. The system was so ingenious that the patent office of the new democratic government granted Suzuki a financial subsidy to continue research in motorcycle engineering. And so was born Suzuki Motor Corporation.
In 1953, Suzuki scored the first of countless racing victories when the tiny 60cc “Diamond Free” won its class in the Mount Fuji Hill Climb.
By 1954, Suzuki was producing 6,000 motorcycles per month and had officially changed its name to Suzuki Motor Co., Ltd. Following the success of its first motorcycles, Suzuki created an even more successful automobile: the 1955 “Suzulight.” Suzuki showcased its penchant for innovation from the beginning. The Suzulight included front-wheel drive, four-wheel independent suspension and rack-and-pinion steering — features common on cars half a century later.
As of January 2024, Suzuki Motor has a market cap of $21.54 Billion.
Website: www.globalsuzuki.com
CEO: Toshihiro Suzuki
HQ: Hamamatsu, Shizuoka, Japan
Great Wall Motors | China | Market Cap: $20.47B
Great Wall Motor Company Limited (hereinafter referred to as “GWM”) is a world-renowned SUV and pickup manufacturer. It was listed on the Hong Kong Stock Exchange in 2003 and the Shanghai Stock Exchange in 2011. By the end of 2018, its assets had reached 111.8 billion yuan. GWM was founded in 1984.
GWM owns four brands, which are HAVAL, WEY, ORA and GWM Pickup.
The products cover three categories: SUV, passenger car and pickup. With over 70 holding subsidiaries, GWM has more than 59,000 employees. On July 10, 2018, GWM and BMW Holding B.V. formally signed a joint venture agreement to establish Spotlight Automotive Ltd.
In the Chinese market, GWM SUVs and Pickups have been the sales leader for many years consecutively. Moreover, on an international scale, GWM is one of the first Chinese auto enterprises to go global. GWM began to export vehicles in 1998, including SUV and pickup. So far market layout has been completed in more than 60 countries and regions. By the end of 2018, GWM had more than 400 overseas networks covering regional markets such as Russia, South Africa, Australia, the Middle East, Africa, South America and Asia Pacific, with total overseas sales of more than 600,000 units.
As of January 2024 Great Wall Motors has a market cap of $20.47 Billion.
Website: www.gwm-global.com
CEO: Wang Fengying
HQ: Baoding, Hebei, China
Chongqing Changan | China | Market Cap: $16.10B
Chongqing Changan Automobile is a core company of Chongqing-based Changan Automobile Group. It is one of China’s five biggest automakers, along with First Automobile Works Group, Dongfeng Motor, SAIC Motor and Chery Automobile. Its origins can be traced back to 1862. The company is under the umbrella of China South Industries Group, a state-owned arms manufacturer.
The company’s strength is in small cars. In addition to its own-brand passenger vehicles, minivans, small trucks and SUVs, it also manufactures engines. Chongqing Changan Automobile operates joint ventures with such foreign carmakers as Suzuki Motor and Mazda Motor of Japan, Ford Motor of the U.S. and PSA Peugeot Citroen of France. Most taxis in Chongqing are small cars manufactured by a joint venture with Suzuki Motor.
It currently produces own-brand vehicles in Chongqing, Beijing and Hefei, Auhui Province. This April, the company decided to issue 6 billion yuan ($966 million) in new shares to its group companies and others as part of its push to boost production and sales of own-brand vehicles. It aims to produce and sell 1.17 million such vehicles a year from 2017.
Chairman Xu Liuping said his company will focus on developing new-energy vehicles, with the aim of raising the share of such cars to total production to 30% by 2020. The company sees Russia as an important overseas market, and also has production facilities in Iran and Brazil. It has about 80,000 employees.
As of January 2024, Chongqing Changan has a market cap of $16.10 Billion.
Website: http://www.globalchangan.com/
CEO: Zhu Huarong (Chairman)
HQ: Chongqing, China
Nissan | Japan | Market Cap: $15.58B
Nissan Motor Co., Ltd., Japanese industrial corporation that manufactures automobiles, trucks, and buses under the names Nissan and Datsun. The company also designs and manufactures such products as communications satellites, pleasure boats, and machinery. The headquarters are in Tokyo.
The company originated from two earlier companies—Kwaishinsha Co. (founded in 1911 to produce Dat cars) and Jitsuyo Jidōsha Co. (founded in 1919)—which merged in 1925 to form Dat Jidōsha Seizō Co. In 1933 the assets of this company were taken over by new investors, who established the Jidōsha Seizō Co., Ltd., giving it its present name the following year. The new company was engaged in the production and sale of vehicles and parts under a new name, Datsun.
LEAF, Nissan Motor Co.’s zero-emission electric vehicle, 2009.
During the war years (from 1938) the company converted entirely to production of trucks and military vehicles. In 1945 the Allied occupation forces seized the main Nissan plants; though allowing production of Nissan and Datsun vehicles to resume at one plant, they did not restore all other facilities to Nissan until 1955. Thereafter, especially during the 1960s, when Nissan entered the world market, production and sales grew phenomenally as the company established assembly plants in several countries outside Japan. By the late 1990s, however, Nissan was struggling, and in 1999 it entered into a partnership with the French carmaker Renault. The partnership was a success, and Nissan’s sales buoyed in the early 21st century, driven in part by sales of the company’s popular electric automobiles.
As of January 2024, Nissan has a market cap of $15.58 Billion.
Website: www.nissan-global.com
CEO: Makoto Uchida
HQ: Yokohama, Kanagawa, Japan
Rivian | USA | Market Cap: $15.43
The electric automaker Rivian was originally founded as Mainstream Motors in 2009 by CEO RJ Scaringe, an MIT grad who studied engineering and lean manufacturing. Scaringe grew up near Melbourne, Florida, where he would work on cars with his neighbour, and spend much of his time outdoors hiking and exploring.
As Scaringe grew older, he found himself driving miles into nature to hike and became aware that he was contributing to the pollution of an environment he looked to preserve.
After the original name was briefly changed to Avera Automotive before Scaringe and his small team dropped the alliteration approach and finally settled on Rivian. The name comes from the Indian River, where Scaringe spent much of his youth exploring on his rowboat in Florida.
Although the company’s focus has always been on cars, it prides itself that it does not look or act like a car company. Due to Scaringe’s deep focus on the environment and sustainability, Rivian holds its goal to make a difference over everything else.
Two years after being founded, Rivian was immersed in both electric vehicle technologies and autonomous driving capabilities. From day one, the automaker set out to create luxurious and battery-powered vehicles, but the rugged outdoorsy SUVs we see today weren’t always the focus.
In 2011, Rivian unveiled a sporty coupe prototype before the entire project was scrapped. By 2015, Rivian had received enough funding to operate research facilities in California’s Bay area, as well as Michigan. The latter soon became home to Rivian HQ to stay close to suppliers in the Midwest. The automaker then shifted its manufacturing focus to a holistic ecosystem of electric vehicles built for the outdoors.
By early 2017, the company had completed its purchase of a former Mitsubishi facility in Normal, Illinois, to become its North American manufacturing hub. As a result, the company received grants and tax abatement from the state government for bringing jobs to Southern Illinois, although it had less than 200 total employees at the time.
By the end of 2017, Rivian announced its two alpha prototypes were complete. Less than a year later, the R1T pickup and R1S SUV debuted at the LA Auto Show with production scheduled to begin in 2020.
Recently, Rivian moved its headquarters to Irvine, California, along with a lot of its research and development. A lot of technologies are still being developed in Michigan, but Rivian slowly seems to be phasing everything over to its new California facility.
As of January 2024, Rivian has a market cap of $15.43 Billion.
Website: https://rivian.com/
CEO: RJ Scaringe
HQ: Irvine, California, United States
Subaru | Japan | Market Cap: $15.11B
Subaru Co. is a Japanese multinational automobile manufacturer. It is known for making Legacy, Forester, Impreza and more. They are popular in the world because of four four-wheel independent suspension and flat engine(horizontally opposed engine). Subaru changed its company name from Fuji Heavy Industries Ltd. in 2017. Subaru has been a brand name of cars since 1958, it became more popular than the company name Fuji Heavy Industries with time.
The origin of Subaru is Nakajima Aircraft Co. founded by Chikuhei Nakajima in 1917. After WW2, Nakajima Aircraft Co. made various metal products technology based on aircraft., bicycles, bicycle trailers, strollers, pans, pots (cauldron) and more. It dissolved some companies, but the five heavy industry companies from it formed Fuji Heavy Industries Ltd. in 1953.
Subaru’s emblem consists of small five stars and a big star. It means that the five small companies gather and become one big company. Subaru means an open star cluster Pleiades and ‘integrating something’ in Japanese. Subaru became very popular by Subaru 360 in 1958. The Subaru 360 was a great hit because it was inexpensive and had good performance. It was called “ladybug” like Volkswagen Type 1 was called “beetle”. Some people say Subaru began to expand to the U.S. in the 1970s through Leone. Its sales increased by attaining automobile emission regulations like other Japanese automobile manufacturers. However, its business worsened because of the strong yen after the Plaza Accord in 1985. Its domestic business also worsened because the Japanese economic bubble collapsed. It went beyond the crisis not only reducing cost but also releasing a new car “Legacy”. Legacy was made by a new design concept and was a great hit.
In 2005, TOYOTA Motor Co. became the principal stockholder of Subaru after GM sold its stocks of Subaru. TOYOTA did not think of merging Subaru as a subsidiary. TOYOTA respected Subaru’s corporate culture and its original technology. Shoichiro Toyoda who was CEO of TOYOTA then said “Do not be like TOYOTA. You lose your competitive advantage if you lose your character.” to Yasuyuki Yoshinaga who was CEO of Subaru.
Subaru could keep to make its original cars after that. In particular, Subaru’s cars received a high evaluation of safety against collisions. Subaru Impreza and Crosstrek(XV) won the grand prize for high collision safety in 2016. Subaru Impreza also won the Top Safety Pick+ which is an annual award to the best-performing cars of IIHS(Insurance Institute for Highway Safety) in the U.S. that it was the first economy car for everybody in Japan. Subaru Sambar in 1961 was also a great hit, Subaru established a permanent place.
In addition, Subaru is well known as a manufacturer of flat engines (horizontally opposed engines). Subaru and Porche only make it for automobiles. Other manufacturers make it for trains or aeroplanes. Nowadays, Subaru is developing a platform for EVs with TOYOTA Motor Co..
By the way, Subaru fans love Subaru cars because it derived from an aircraft company or have original technology. They have been called “Subarist” in Japan since 1975. Nobuo Gokan who was a university professor named it on the magazine called Cartopia published by Subaru. He said that Subarist has considerable insight into cars and is a gentlemanly driver.
As of January 2024, Subaru has a market cap of $15.11 Billion.
Website: www.subaru.com
CEO: Atsushi Osaki
HQ: Shibuya City, Tokyo, Japan
VinFast Auto | EU Vietnam | Market Cap: $14.28B
VinFast is a member of Vingroup, the largest private corporation in Vietnam. Vingroup has a sizable history in Vietnam, focusing on technology, real estate development, retail, and services ranging from healthcare to hospitality. The VinFast story started in 2017 with the establishment of VinFast’s state-of-the-art automotive manufacturing complex in Hai Phong, Vietnam.
The company debuted at the 2018 Paris Motor Show and launched the first three cars in 2019: the Lux A2.0 sedan, Lux S2.0 SUV, and the Fadil for the city commute. In just a year, VinFast became the leading car manufacturer in Vietnam, with sales leading in all three segments.
In 2021, VinFast expanded its vehicle profiles by introducing e-scooters and Vietnam’s first e-Bus. While gaining significant growth in Vietnam, the company’s ambition is to become a global force in the ever-growing EV industry and focus on a better future for the world. Thus, VinFast launched the first ever consumer electric vehicle to be produced in Vietnam while launching the VF 8 and VF 9 for the global market in Europe and North America. With the continuing focus on EVs, VinFast focused entirely on electric vehicles from 2023, ending its gas-powered car production at the end of 2022.
As 2022 continues, the company has made incredible strides in the global market. With VinFast opening orders for both the VF 8 and VF 9 to be delivered globally at the year’s end and launch showrooms in North America and Europe. At the same time, they are impacting the EV world by showcasing their products and presence at CES, the New York International Auto Show, and the Los Angeles Auto Show. The company is also the title sponsor of the IRONMAN World Championship.
As of January 2024, VinFast Auto has a market cap of $14.28 Billion.
Website: https://vinfastauto.us/
CEO: Pham Nhat Vuong
HQ: Haiphong, Vietnam
NIO | China | Market Cap: $12.77B
Nio Inc (NIO) is an automobile company that researches, develops, produces and sells smart electric vehicles, powertrains and batteries. The company offers smart electric flagship sedans, electric tourers and electric Flagship Coupé SUVs including es7, es8, es6, et5, et7, and ec6. It also develops battery-swapping technologies and autonomous driving technologies. Its services comprise a lifetime free warranty, lifetime free roadside rescue and lifetime free car connectivity. The company’s electric vehicles apply NAD (NIO autonomous driving) technology, including the supercomputing platform NIO Adam and the super sensing system NIO Aquila. The company also provides charging piles, vehicle internet connection services and extended lifetime warranties. It operates in the Netherlands, China, Hong Kong, Germany, Norway and the US. NIO is headquartered in Shanghai, China.
NIO was founded in 2014 as a designer, developer, joint-manufacturer, and seller of premium “smart” electric vehicles. NIO’s Chinese name translates to “blue sky coming”, which reflects the company’s guiding philosophy of building a brighter and more sustainable tomorrow.
NIO aims to differentiate itself from competitors through continuous technological breakthroughs and innovations, including the brand’s famous battery swapping technology, Battery-as-a-Service (BaaS) scheme, and its autonomous driving technology, which NIO refers to as Autonomous-Driving-as-a-Service (ADaaS).
As of January 2024, NIO has a market cap of $12.77 Billion.
Website: www.nio.com
CEO: William Li
HQ: Shanghai, China
Seres Group | China | Market Cap: $12.37B
Chongqing Sokon Industrial Group Co., Ltd (hereinafter referred to as the Group) is a mixed-ownership manufacturer founded in 1986. Starting from a spring to a shock absorber, a motorcycle and a car, the Group adheres to the mission of “driving the automotive energy transformation and creating an intelligent mobility lifestyle”, and puts into practice its core values of being “user-centric, diligent, change-oriented, trustworthy and value-sharing”. It is promoting transformation and upgrading from traditional vehicles to intelligent vehicles and from traditional manufacturing to intelligent manufacturing, and pursuing high-quality development to realize the vision of “becoming a global branded enterprise of intelligent vehicles”. The Group is an A-share listed company and one of the top 500 companies in China, with over 10,000 employees.
The Group has multiple wholly-owned subsidiaries such as Dongfeng Sokon Motor Co., Ltd., E-powertrain Company, Engine Company, an Auto Components Company, an Import & Export Company, etc. Its main products include intelligent electric vehicles, super urban SUVs, compact MPVs, mini-commercial battery electric vehicles, e-powertrain as well as energy-saving, environmentally friendly and high-performance engines such as 1.0-2.0-liter, 1.5T and 2.0T direct-injection turbochargers. These products are exported to more than 70 countries and regions.
Along with its own development, the Group conscientiously fulfills its social responsibility and actively participates in activities such as public welfare donations, earthquake relief, Guangcai Program and precision poverty alleviation, continuously giving back to society.
Zhang Xinghai, Chairman of the Group, is currently a deputy to the National People’s Congress, Vice President of All-China Chamber of Industry and Commerce, Vice Chairman of Chongqing Federation of Industry and Commerce, Vice Chairman of Chongqing Charity Federation and Director of China Society for Promotion of the Guangcai Program. He was conferred the titles of “Outstanding Builder of Socialism with Chinese Characteristics”, “Contribution Award of Revitalizing Chongqing”, “Advanced Individual of Earthquake Disaster Relief Work”, “The First Chongqing Charity Award”, and “Chongqing Outstanding Private Entrepreneur”, etc.
As of January 2024, Seres Group has a market cap of $12.37 Billion.
Website: https://seres.cn/
CEO: Zhang Xinghai
HQ: Chongqing, China
Hotai Motor | Taiwan | Market Cap: $11.39B
Hotai Group was founded in 1937 as a textile and general goods trading company between China and Japan. Over the next 10 years, the company began to secure distribution rights from Mobile Oil, Yokohama Tire, GE, and Toyota, rising to dominance in Taiwan. The company evolved into one of Taiwan’s largest conglomerates after the Chinese Civil War and diversified into a variety of industries.
Hotai Motor is the Taiwanese distributor for the Japanese auto giant Toyota Motor, selling Toyota vehicles, Lexus cars, and Hino Motors trucks. It also sells used Toyota cars and runs an auto leasing service. Its affiliate Kuozui, a joint venture with Toyota, makes some Toyota models locally.
Hotai was founded as a trading company in 1947 by the Taiwanese tycoon Huang Lieh-ho, who also founded the food conglomerate Wei-Chuan. Hotai became a listed company in 1997.
Huang Lieh-ho’s son, Huang Nan-Kuang, is the company’s current chairman. Huang Nan-Kuang has a master’s degree from Missouri State University and began his career at Wei-Chuan in its U.S. unit. He returned to Taiwan in 2009 to become Hotai’s vice chairman and was appointed chairman in 2010 following his father’s death.
As of January 2024, Hotai Motor has a market cap of $11.39 Billion.
Website: www.hotaico.com
CEO: Huang Nan-Kuang (Chairman)
HQ: Taipei, T’ai-pei, Taiwan
Renault | France | Market Cap: $10.8B
Renault, major French automobile and motor carrier manufacturer. Controlled by the French government, it is the country’s largest manufacturer and exporter of motor vehicles and one of the country’s most prominent corporate brands. Headquarters are in Boulogne-Billancourt.
The original firm, Renault Frères (“Renault Brothers”), was founded by Louis Renault and his brothers Marcel and Fernand after the young mechanic had built his first minicar at home. That first model incorporated direct transmission, then an automotive novelty. The firm received its first orders in 1899 and soon became a leader in the industry. Early cars built by the Renault brothers won many prestigious racing competitions.
In 1905 the company introduced the first of two best-selling models that were widely employed as taxicabs. These cars became famous during World War I when 600 Paris taxis were used to carry soldiers to the First Battle of the Marne. Renault also contributed to the war effort by producing shells, airplane engines, and light tanks. After the war the company continued to expand its factories and its product line, which included buses, trucks, and tractors. Early in World War II, however, the factories were brought under German control, and many were heavily damaged by Allied bombings. When Paris was liberated in 1944, the facilities that had not been destroyed were confiscated by the French government, which set up the state-controlled Régie Nationale des Usines Renault in 1945. The company then emphasized the production of popular, inexpensive family cars such as the 4CV.
In 1979 Renault signed an agreement with American Motors Corporation that called for AMC dealers to sell Renault cars in the United States while Renault would market AMC cars in Europe. A year later Renault became the principal stockholder in AMC. In 1987, however, Renault announced that it would withdraw from the American automobile market, and the company made a buyout agreement with Chrysler Corporation. Renault acquired the heavy-truck subsidiary of Citroën, Automobiles M. Berliet, in 1974 and from 1983 held a controlling interest in Mack Trucks Inc. of the United States.
In 1994 the French government semiprivatized Renault, selling off shares until it retained only a 50.1-percent stake in the company.
As of January 2024, Renault has a market cap of $10.80 Billion.
Website: www.renaultgroup.com
CEO: Luca de Meo
HQ: Boulogne-Billancourt, France
Isuzu | Japan | Market Cap: $10.34B
Isuzu Motors Ltd (Isuzu) is an automobile manufacturer. The company manufactures and sells commercial vehicles, light commercial vehicles and engine components. Isuzu’s product portfolio includes heavy, medium, and light-duty trucks; passenger vehicle engines; sightseeing buses; and route buses. The company also manufactures and sells automotive, industrial and marine engines. Isuzu manufactures and assembles heavy, medium, and light-duty trucks through its Fujisawa Plant and engines through its Tochigi Plant in Japan. It operates across Europe, the Middle East, Asia, Africa, Oceania, North America, Central America, the Caribbean, and South America through its subsidiaries and branch offices. Isuzu is headquartered in Tokyo, Japan.
Founded in 1916 in the early days of the automobile culture in Japan, Isuzu has contributed to the development of the Japanese automobile industry for over 100 years as the top brand, particularly in the commercial vehicle segment.
Isuzu Motors Ltd. engages in the manufacture and sale of heavy-medium and light-duty trucks, buses, passenger vehicle engines, and industrial-use diesel engines. Its products include ELF (Extremely Low Frequency) light-duty trucks, forward medium-duty trucks, giga heavy-duty trucks and tractors, gala sightseeing buses, erga route buses, diesel engines for passenger vehicles and industrial use, N-series light-duty trucks, F-series medium-duty trucks, C&E-series heavy-duty trucks and tractors, pick up trucks and others. The company was founded in 1916 and is headquartered in Tokyo, Japan.
As of January 2024, Isuzu has a market cap of $10.34 Billion.
Website: www.isuzu.co.jp
CEO: Masanori Katayama
HQ: Yokohama, Kanagawa Prefecture, Japan
Ford Otosan | Turkey | Market Cap: $9.97B
The history of Ford Otosan dates back to 1928 when Vehbi Koç became a Ford dealer in Ankara, Turkey. In 1929, Ford was granted permission to establish a local assembly plant in Istanbul’s Tophane free zone, where limited numbers of Ford Model A and Model B vehicles were assembled until 1934 when production was suspended due to the Great Depression.
In 1959, the foundation of the Otosan (Automotive Industry) factory took place in Istanbul, and 1960, production began with the Ford Consul. Subsequently, the Thames, Thames Trader van, and D1210 truck were added to the assembly line. In 1966, the Anadol, Turkey’s first mass-production passenger vehicle, was developed, followed by the production of the Ford Transit in 1967 and the Anadol STC-16, Turkey’s first sports car, in 1973.
In 1977, the company signed a license agreement with Ford, leading to the renaming of the company to Ford Otosan. A new factory was established in Inönü, Eskisehir, which started producing Ford Cargo in 1983. Ford increased its share in the company to 30 per cent in the same year. In 1985, the Ford Taunus was introduced at the Istanbul plant, and the Inönü engine plant was officially opened in 1986.
The 1990s saw the production of the newer Ford Transit and the replacement of the Ford Taunus with the Ford Escort on the assembly lines. Ford’s share in the company further increased to 41 per cent in 1997, making it an equal partner with Koç Holding.
In 1998, Ford Otosan began operating a new factory in Gölcük, Kocaeli, focusing on commercial vehicle production. The facility manufactured the Ford Transit and Ford Transit Connect, both models marketed worldwide. In 2003, Ford Otosan launched a new generation of the Ford Cargo heavy-duty truck.
The company continued to innovate, collaborating with Ford Brazil in developing the Ford Cargo heavy truck, which was unveiled in January 2013. In 2018, Ford introduced the F-Vision, an electric tractor-trailer concept with Level 4 autonomous driving capability.
In March 2022, Ford Otosan made headlines again when it announced the acquisition of Ford Romania from Ford Motor Company. Throughout its history, Ford Otosan has played a crucial role in Turkey’s automotive industry, achieving significant milestones and becoming a key player in the global market.
As of January 2024, Ford Otosan has a market cap of $9.97 Billion.
Website: www.fordotosan.com.tr
CEO: Rahmi M. Koç (Chairman)
HQ: İstanbul, Türkiye
Guangzhou Automobile Group | China | Market Cap: $9.78B
Guangzhou Automobile Group Co Ltd (Guangzhou Automobile), a subsidiary of Guangzhou Automobile Industry Group Company, Ltd, carries out the research and development, manufacture, distribution and after-sales services of passenger vehicles, commercial vehicles, motorcycles, engines and other auto parts. The company offers automobile leasing, logistics services, automobile disassembling, automobile credit, insurance brokerage services, and equity interest investment. Guangzhou Automobile engages in the production and sale of motorcycles, automobile finance and insurance and other financial investing business. The company offers its products through sales outlets and online channels. It operates in Mainland China and Hong Kong. Guangzhou Automobile is headquartered in Guangzhou, Guangdong, China.
Guangzhou Automobile Group Co., Ltd. (“GAC”) was incorporated in June 1997. In 2022, GAC’s production and sales both exceeded 2.4 million, with a positive year-on-year growth. Based on export planning, GAC Group successfully pushed ahead with its international business, and GAC MOTOR was born at the right time.
As of today, GAC MOTOR has successfully infiltrated the markets of the Middle East, Southeast Asia, Eastern Europe, Africa and America, a total of 30 countries and regions worldwide. To further optimize the development path, the international strategic plan has been clarified.
As of January 2024, GAC (Guangzhou Automobile Group) has a market cap of $9.78 Billion.
Website: www.gac-motor.com
CEO: Zeng Qinghong (Chairman)
HQ: Guangzhou, Guangdong, China
Geely | China | Market Cap: $9.63B
Zhejiang Geely Holding Group, more commonly known as just Geely, one of China’s largest private auto manufacturers which produces a range of affordable to premium cars under in-house as well as acquired Volvo and London EV Company (LEVC) marques. We also examine the financials for Geely Auto, Geely Group’s core constituent segment listed on the Hong Kong Stock Exchange (the remainder of Geely Group is private).
Geely was originally founded in 1986 as a business producing fridge components. The company subsequently entered the motorcycle industry in 1994 and the auto industry in 1997, with the launch of the first Geely car in 1998.
Geely exported its first car abroad in 2003 and went public on the Hong Kong Stock Exchange in 2005.
In 2006, Geely formed a joint venture with The London Taxi Company (now known as London EV Company Limited, abbreviated LEVC), to produce London taxis in China, before fully acquiring the business in 2013. In 2008, Geely founded a separate in-house brand with compact electric vehicles and traditional combustion engine multi-purpose vehicle offerings named Gleagle.
In 2010, Geely acquired Volvo Cars from Ford, before launching a new, affordable in-house sedan brand named Dihao in 2011.
In 2014, Geely merged Gleagle, Dihao, and LEVC cars produced for use in China under the Geely marque.
In 2016, Geely founded a commercial vehicle brand named Farizon Auto, which predominantly focuses on light commercial vehicles, buses and coaches.
In 2017, Geely founded the LYNK & CO brand with Volvo Cars to produce modern, compact sedans and SUVs targeting a younger audience. The same year, Geely acquired a majority stake in British sports and racing car manufacturer Lotus Cars.
Over the past three years, Geely shifted its focus to the fast-growing electric vehicle market, with the launch of the pure electric passenger vehicle brand Geometry in 2019, premium electric vehicle brand Zeekr in 2021, as well as electric pick-up truck and SUV brand Radar and battery-swapping passenger car brand Livan Auto in 2022.
In September 2022, Geely acquired a 7.6% stake in British luxury automaker Aston Martin.
As of January 2024, Geely has a market cap of $9.63 Billion.
Website: https://www.geely.com/en/
CEO: Sheng Yue Gui
HQ: Hangzhou, China
Xpeng | China | Market Cap: $8.41B
XPeng was co-founded in 2014 by Xia Heng and He Tao, former senior executives at GAC Group with expertise in automotive technology and research and development. Initial backers included: the founder of UCWeb and former Alibaba executive He Xiaopeng, namesake and current Chairman of XPeng, and Lei Jun, the founder of Xiaomi. Prominent Chinese and international investors included Alibaba, Foxconn and IDG Capital. A further funding round in 2018 saw Alibaba’s vice president Joseph Tsai join the corporate board of XPeng.XPeng’s subsidiary in the United States, XMotors.ai held a permit for testing self-driving cars from the California Department of Motor Vehicles starting in September 2018. The permit was revoked in February 2020 due to XPeng’s failure to submit a disengagement report. XPeng Motors then received a renewed Autonomous Vehicles Testing Permit from the California Department of Motor Vehicles in March 2020.
XPeng started production of its first model, the XPeng G3 SUV, in November 2018. It launched the G3 in December 2018 at the 2018 Consumer Electronics Show in Las Vegas.Its second model, the P7, a four-door electric sedan, premiered in April 2019 at the 2019 Auto Shanghai show and started deliveries to customers in June 2020.In May 2019, XPeng launched a vehicle for hire company with its own vehicles to serve Guangzhou.In November 2019, XPeng raised US$400 million in a third fundraising round, which saw Xiaomi join as a strategic investor of XPeng. In July 2020, XPeng raised US$500 million from a group of investors including Aspex, Coatue, Hillhouse Capital and Sequoia Capital China. In August 2020, XPeng raised an additional US$400 million from a group of investors including Alibaba, Qatar Investment Authority and Abu Dhabi’s sovereign wealth fund Mubadala. On 27 August 2020, XPeng raised US$1.5 billion with an IPO on the New York Stock Exchange, where its shares climbed more than 40% on the first day of trading. In March 2021, the company received a US$76.9 million funding from Guangdong Yuecai Investment Holdings Co. As of May 2021, 23% of XPeng shares are owned by He Xiaopeng, and 12% by Alibaba Group.In the third quarter of 2021, revenue for XPeng rose over 500% compared to the year before. It had also increased its R&D team by about a third since the year before.In 2021, for the first time, XPeng started exporting its flagship P7 sedan. Its first international market was Norway, starting in August. In August 2021, the company’s P5 subcompact sedan became able to read traffic lights. In September 2021, XPeng brought its P5 to market. It is the first production car to be equipped with lidar sensors for advanced driver-assistance systems .In October 2021, XPeng’s subsidiary HT Aero announced $500 million in funding and the design for a flying car with a planned launch in 2024.
As of January 2024, XPeng has a market cap of $8.41 Billion.
Website: www.xpeng.com
CEO: He Xiaopeng
HQ: Guangzhou, China
Volvo | Sweden | Market Cap: $7.81B
Volvo Aktiebolaget, major Swedish brand and manufacturer of buses, trucks, construction equipment, and related products. Headquarters are in Gothenburg.
Volvo was created in 1926 as a wholly owned subsidiary of AB Svenska Kullagerfabriken and became an independent corporation in 1935. Its original business was the assembly of cars and trucks, but by acquiring its suppliers, as well as by internal expansion, Volvo grew from assembly into a major manufacturer. It acquired engine builder AB Pentaverken in 1930, transmission and axle manufacturer Köpings Mekaniska Verkstad AB in 1942, and car-body manufacturer Svenska Stålpressnings AB in 1969.
As an automaker, Volvo produced a range of models—including compact and medium-sized passenger cars as well as sport-utility vehicles—with an emphasis on comfort and safety features. In 1999 the Volvo subsidiary responsible for automobiles, Volvo Cars, was purchased by the Ford Motor Company.
Volvo began making trucks in 1928, becoming one of Europe’s leading manufacturers of heavy-duty trucks, and it started manufacturing buses in 1931. In the early 21st century, Volvo acquired several companies that strengthened its position as one of the world’s leading manufacturers of trucks. In 2001 it purchased Renault’s truck division, and six years later Volvo became the sole owner of Japan’s Nissan Diesel.
The company also produces marine, industrial, aircraft, and rocket engines; earth-moving, agricultural, and forestry equipment; and recreational and camping products. Other Volvo subsidiaries engage in oil prospecting and trading.
In the 21st century, Volvo’s trucks have become even more powerful, more efficient, more comfortable, safer and cleaner than ever.
Economy has always been in firm focus for Volvo’s trucks, ever since the first truck was built in February 1928. With the shaky state of the global economy since the end of the 2000s, even higher demands are being imposed today: a truck not only has to be economical, ergonomic and ecologically sustainable, it also has to function optimally and perfectly in a complete, integrated system. A system where not only the truck but all modes of transport working together are tailored for the job. Where the manufacturer (for instance Volvo) takes responsibility for the truck throughout its lifetime. Where the truck is supported by a range of integrated systems. Where the service system in coordination between Volvo each haulage firm guarantees continuous, perfect function.
As of January 2024, Volvo Car has a market cap of $7.81 Billion.
Website: www.volvo.com
CEO: Martin Lundstedt
HQ: Gothenburg, Sweden
Lucid Motors | USA | Market Cap: $7.71B
Formerly known as Atieva, Lucid Motors was founded in 2007 and is based in Newark, California, near Silicon Valley. As Atieva, Lucid was originally focused on developing batteries and electric powertrains for other vehicle manufacturers. Eventually, it had accumulated over 50 patents pertaining to its core battery system in the US alone.
By 2013, the company was a highly capable producer of connected battery packs and electric powertrains and began flirting with the idea of developing a car of its own. That is when Peter Rawlinson joined the team as Chief Technology Officer. Previously, Rawlinson has been the VP of Vehicle Engineering and Chief Engineer of the Model S at Tesla.
In 2014, Lucid garnered a nine-digit round of funding to develop its own complete vehicle. This included investments from companies like Venrock, Mitsui, and JAFCO — all of which remain investors today. According to Lucid’s website, the Atieva team then built a custom, 900 HP powertrain test vehicle. It remained ordinary looking from its exterior to stay unrecognized but could reach 60 mph in ~3 seconds with “a driving range that well exceeds today’s range limitations.”
In October of 2016, the company officially announced its intent to rebrand itself as Lucid Motors. Furthermore, the nascent automaker announced plans to produce an all-electric luxury vehicle.
A month later, Lucid officials, along with state officials from Arizona, announced plans for the automaker to break ground in Casa Grande on a $700 million purpose-built facility sitting on a 590-acre footprint. The first in North America.
In September of 2018, Lucid Motors revealed it was in talks with the Public Investment Fund of Saudi Arabia (PIF) regarding a funding investment of over $1 billion.
Lucid said it planned to use the huge round of funding to complete the final engineering and testing of the Lucid Air model, fund the first-phase construction of the aforementioned AMP-1 facility, begin commercial production of the Lucid Air, and implement a worldwide retail strategy. This deal was completed in April of 2019.
Soon, news began to surface that the Saudi investment was apparently contingent on Lucid establishing a manufacturing presence in the country.
While Lucid Motors has made huge strides in the past several years, it still has yet to deliver its flagship EV, the Lucid Air sedan. While the debut version of the Air called the Dream Edition was originally scheduled to begin deliveries in spring of 2021, Lucid Motors delayed its availability to a more broad timeline of “the second half of 2021.”
As of January 2024, Lucid Motors has a market cap of $7.71 Billion.
Website: https://lucidmotors.com/
CEO: Peter Rawlinson
HQ: Newark, California, United States
Mazda | Japan | Market Cap: $7.64B
Mazda Motor Corporation, a leading Japanese brand and automotive manufacturer, maker of Mazda passenger cars, trucks, and buses. The company is affiliated with the Sumitomo group. It is headquartered at Hiroshima.
Founded in 1920 as a cork plant, the company acquired its Tōyō Kōgyō name in 1927. In 1931 it began manufacturing its first vehicles, a line of three-wheel trucks, producing some 200,000 in the next 25 years. During World War II it provided the Japanese armed forces with these trucks as well as with rifles. The company’s factory survived the atomic bombing of Hiroshima because it lay shielded behind a hill.
The company entered the passenger-car market in 1960 with the production of a coupe model; two years later sedans and station wagons came on line, and in 1964 it introduced a line of cars that were marketed in the United States. In 1967 the company committed itself to producing automobiles with the rotary-piston Wankel engine. By the early 1970s more than half of all Mazdas were equipped with the new engine. The major drawback of the Wankel engine, however, was its relatively poor fuel efficiency. With the rise in the price of gasoline in the 1970s, sales of Mazdas dropped sharply.
In the 1980s, however, the company gradually regained its fortunes. By reducing its workforce through attrition, greatly improving productivity, and turning to conventional, more fuel-efficient engines for its cars, the company became one of the largest automobile manufacturers in Japan. In 1981 it brought out a more fuel-efficient Wankel engine for some of its models. Also important to its recovery was its relationship with the Ford Motor Company. The company changed its name from Tōyō Kōgyō Company to Mazda Motor Corporation in 1984.
In 1989, at the Chicago Auto Show, Mazda unveiled the MX-5 Miata, a two-door sports car carrying a starting price tag of $13,800. According to Mazda, the concept for the car was: “affordable to buy and use, lightweight, Jinba Ittai (‘rider and horse as one’) handling, and classic roadster looks.” The 2000 “Guinness Book of World Records” named the Miata the best-selling two-seat convertible in history.
In 1991, in another milestone for the company, a Mazda 787 B won the 24 Hours of Le Mans race, becoming the first rotary-powered car as well as the first Japanese-made auto to do so. However, Mazda was impacted by the economic slump in Japan in the 1990s and in 1996, Ford took a controlling stake in the automaker and rescued it from potential bankruptcy. The two companies shared manufacturing facilities in several countries along with vehicle platforms and other resources. In 2008, Ford, which had been hurt by the global economic crisis and slumping auto sales, relinquished control of Mazda by selling 20 percent of its controlling stake for around $540 million. (Also that year, General Motors sold its stake in Japan-based Suzuki Motor.)
In 2009, Mazda celebrated the 20th anniversary of the MX-5 Miata, whose sales by then had topped nearly 900,000 and which had won almost 180 major automotive awards.
As of January 2024, Mazda has a market cap of $7.64 Billion.
Website: www.mazda.com
CEO: Masahiro Moro
HQ: Fuchu, Hiroshima, Japan
Polaris | USA | Market Cap: $5.23B
The foundation stone for Polaris was laid down in 1945 by a company known as Hetteen Hoist & Derrick. The primary focus of their business was on developing new machinery which could cater to the needs of local farmers.
The three people involved in starting this business were outdoor freaks who loved to travel and go on myriad adventures both on and off-season.
They lived in a community where people particularly enjoyed activities like hunting, gathering, and fishing. However, to pursue these activities, they needed to cross snowy areas. Thus, the men decided to invent a vehicle that would make travelling through the snowy regions less difficult.
During the 1960s, snowmobiling became an incredibly beloved sport. As a result, the sales of the Polaris Snowmobile skyrocketed. Unfortunately, the existing management was not sufficient to meet the increasing demand.
Due to the lack of resources, the former company owners later sold the company to Textron in 1968. Textron employed numerous highly skilled engineers who created good-quality engines.
The latest Polaris engines were so much better than their previous versions. These vehicles claimed victory at numerous race events as well.
Throughout the 1970s, the company grew and generated revenue at an exponential rate. However, during the 1980s, it all went downhill. Most of the company’s units were shut down or had to sell off their snowmobile divisions. Textron, too, was contemplating selling off Polaris, but the company’s then-President decided to lead a buyout in 1981.
The novel Polaris Powersports company had a meagre 100 workers. These workers did their job diligently and with utmost dedication, and as a result, the debt of Textron was resolved.
Before anyone knew it, the company expanded to bring 450 employees on board. They sold an extensive range of Powersports vehicles which gave them an edge in the market. However, it was five years after the buyout that their sales reached $40 Million.
After their humongous success in the Snowmobile industry, Polaris decided to dig its tentacles into other Powersports as well. Starting in the mid-1980s, they branched out into the ATV market and reaped massive success.
Then, in 1990, they became the first American company to develop a personal watercraft. They were immensely successful in this other venture.
The next decade that follows comprises facility and business acquisitions, as well as product relaunches and expansion.
Last 2011, Polaris acquired other companies like Indian Motorcycle and even obtained GEM electric-powered vehicles. These were highly successful business expansions that prove their strong branding, well-defined company goals, and popularity among motorsports enthusiasts.
As of January 2024, Polaris has a market cap of $5.23 Billion.
Website: www.polaris.com
CEO: Michael T. Speetzen
HQ: Medina, Minnesota, United States
Polestar | Sweden | Market Cap: $4.87B
Polestar’s journey traces back to 1996 when it began as a Swedish racing team known as Flash Engineering. The division operated under this name to compete in the Swedish Touring Car Championship. This name brand was sold by the owner, who took the remaining assets and became officially affiliated with Volvo in 2005 under the Polestar name. Polestar then focused on enhancing the performance and dynamics of Volvo’s cars. This resulted in some truly incredible examples, such as the 400-horsepower Volvo C30 Polestar Performance Concept Prototype and the record-breaking 508-horsepower Volvo S60 Polestar Concept.
A pivotal moment came in 2017 when Volvo announced Polestar would transform into an independent sub-brand dedicated to electric performance cars using the Swedish group’s assets. This resulted in the desirable and exclusive 2019 Polestar 1 PHEV performance coupe. This plug-in hybrid grand tourer showcased the brand’s intent to deliver a striking design with a focus on electric performance while incorporating sustainable materials in its construction. Volvo also used the brand’s services to offer its 409-horsepower T8 Polestar Engineered hybrid products for the S60, V60, and XC60 models between 2018 and 2020.
The brand’s true breakthrough arrived with the Polestar 2 in 2020. This is positioned as an all-electric competitor to the Tesla Model 3, with sleek Scandinavian aesthetics, impressive performance, and an infotainment system powered by Google’s Android Automotive operating system. This exciting product marks the brand’s commitment to innovation in terms of propulsion and providing an immersive and intuitive driving experience.
As of January 2024, Polestar has a market cap of $4.87 Billion.
Website: www.polestar.com
CEO: Thomas Ingenlath
HQ: Gothenburg, Sweden
Mitsubishi Motors | Japan | Market Cap: $4.72B
Mitsubishi Group, loose consortium of independent Japanese companies that were created out of the giant, family-owned Mitsubishi business combine, or zaibatsu, which was broken up after World War II and reestablished in April 1950.
The first of the Mitsubishi companies was a trading and shipping concern, Mitsubishi Commercial Company (Mitsubishi Shōkai), formed in 1873 by Iwasaki Yatarō out of a government-operated shipping company he had purchased in 1871. In its effort to promote Japanese commerce and industry, the government gave Iwasaki considerable financial assistance for several years, and the company grew to be Japan’s largest shipping firm.
Iwasaki diversified the company’s interests, first into mining and then finance, warehousing, shipbuilding, real estate, and banking. In 1893 these interests were organized into a family-owned holding company, Mitsubishi, Ltd. (Mitsubishi Gōshi Kaisha). During and after World War I, several subsidiaries were created out of Mitsubishi, Ltd., which in addition to the earlier interests included iron and steel, insurance, oil refining, aircraft production, and chemicals. By the 1930s Mitsubishi was the second largest zaibatsu in the country.
Mitsubishi was also one of the major military contractors during the 1930s and ’40s; it built many of Japan’s warships as well as the Zero fighter airplane. Because of its war production, Mitsubishi grew to an enormous size, controlling some 200 companies by the end of World War II. After Japan’s defeat, the Mitsubishi Zaibatsu was broken up by the U.S. occupation authorities. Mitsubishi, Ltd., was dissolved, and the stock of the former subsidiary firms was sold to the public.
At the end of the occupation in 1952, the new grouping of former Mitsubishi companies was significantly different from the old zaibatsu in that there was no central, family-controlled holding company; instead, it was characterized by informal policy coordination among the various company presidents and by a degree of financial interdependency among the corporations—an organizational structure known as keiretsu.
The contemporary Mitsubishi Group consists of hundreds of so-called “group companies,” some of which, such as Nikon Corporation, Kirin Brewery, and Asahi Glass, do not use the Mitsubishi name. The major firms within Mitsubishi are large multinational corporations, most of which are based in Tokyo and have offices and subsidiaries overseas; some of these firms are engaged in joint ventures with foreign companies. In the United States the Mitsubishi International Corporation, founded in 1954, operates an American trading company (sōgō shōsha) and is involved in finance and project management for the Mitsubishi Corporation of Tokyo.
As of January 2024, Mitsubishi Motors has a market cap of $4.72 Billion.
Website: www.mitsubishi-motors.com
CEO: Takao Kato
HQ: Minato City, Tokyo, Japan
Tofaş Türk Otomobil Fabrikası | Turkey | Market Cap: $4.08B
Tofaş (acronym for Türk Otomobil Fabrikası Anonim Şirketi; Turkish Automobile Factory Joint-Stock Company pronounced [tofaʃ]) is a Turkish automobile manufacturer which was established in 1968 by Vehbi Koç, who was the founder of Koç Holding, based in Bursa, where the manufacturing plant of the company is located. It is jointly owned by Stellantis and Koç Holding (37.8% of the company’s shares belong to Stellantis (through Fiat Group Automobiles); 37.8% to Koç Holding; and 24.3% freefloat).
Tofaş manufactures both passenger cars and light commercial vehicles. It is one of the biggest automakers in the sector with 7,000 employees and 450,000 vehicles annual production capacity. Tofaş manufactures for the Fiat, Citroën, Peugeot, Opel, Vauxhall and RAM brands in Bursa, which has achieved the “Gold Level” within the scope of the WCM-World Class Manufacturing Program that is implemented in the 175 plants within the framework of Stellantis.
Tofaş plays a leading role in the Turkish automotive sector; it conducts sales and after-sales operations for the Fiat, Alfa Romeo, Lancia, Jeep, Ferrari, and Maserati brands in Turkey.
Tofaş exported 160,000 units to 80 countries in 2013. It also recorded 7 billion TL net sales income and 434 million TL net profit. Fulfilling 22% of the total production in Turkey with its 240,000 units in the previous year, Tofaş achieved 1.6 billion euro export income by increasing its export volume by 4%.
As of January 2024, Tofaş Türk Otomobil Fabrikası has a market cap of $4.08 Billion.
Website: www.tofas.com.tr
CEO: Cengiz Eroldu
HQ: İstanbul, Türkiye
JAC Motors | China | Market Cap: $3.87B
It was established in 1964 as Hefei Jianghuai Automobile Factory, and the company name was changed to Anhui Jianghuai Automobile Co., Ltd. in 1997. The company made an IPO on the Shanghai Stock Exchange in 2001. JAC has historically produced only commercial trucks under the Jianghu brand name. However, MPVs and SUVs appeared in the 2000s. By 2007, the company received government approval to produce passenger cars but was still referred to as a truck manufacturer. Before getting his passenger car license in 2007, JAC worked with Hyundai in the early 2000s to expand its product line. Hyundai started assembling MPVs in 2003 but stopped sometime before 2007. After the cooperation ended, at least two models (MPV and SUV) based on Hyundai technology continued to be manufactured by JAC. Hyundai considered establishing a joint venture with the company in 2004. In 2009, the Chinese government signalled support for the consolidation of China’s auto industry, and analysts predicted a possible merger of JAC with Chery, both based in Anhui province. On the surface, such a merger makes sense. Chery primarily manufactured passenger cars, while JAC focused almost entirely on trucks at the time. However, JAC has since made clear that it is not interested in integrating under the aegis of Chery Automobile. JAC has begun to focus more on passenger cars, and the announcement of a new electric vehicle program in 2010 may have been, at least in part, an effort to thwart rumours of a merger. Sales in 2012 reached more than 445,000 units. In 2013, it was one of the top 10 most productive automakers in China, selling 458,500 units and achieving a market share of 2.5%, reaching 8th place. In 2011, JAC dropped one place to 9th place with production of nearly 500,000 vehicles, and in 2012 production decreased to approximately 445,000 vehicles, making the company even more It fell one place to 10th place. Estimated production capacity in 2009 is over 500,000 units per year. In 2016 JAC signed an agreement with DR Automobiles to export vehicles to Italy. His JAC models, made in China, have been pre-approved by the DR by European safety and pollution control regulations and will be sold with the DR badge. The first cars imported to Italy were the JAC Refine S3, renamed the DR4 (or EVO 4), and the JAC iEV40, sold as the DR Evo Electric (or EVO 3 Electric). In 2017, JAC Motors and Volkswagen Group announced a joint venture to produce electric vehicles under the SEAT brand for the Chinese market, and in April 2018, the joint venture between JAC and Volkswagen was officially established. The joint venture operates through the new Sol brand and is no longer under the SEAT brand. The first product is his SOL E20X vehicle, an electric crossover born from the badge engineering of the JAC iEV40 (also known as JAC Refine S2 EV) with a redesigned front by his SEAT-style centre in Spain. In 2020, the Volkswagen Group signed a letter of intent with Volkswagen (China) Investment Co., Ltd. and the Anhui provincial government to increase the Volkswagen Group’s stake in the JAC Volkswagen joint venture from the current 50% to 75%. did. This transition also requires investment in his JAG (JAC Group), the government-owned parent company of JAC Motors. The agreement between the parties provides for an investment worth €1 billion, subject to customary regulatory approvals, and is expected to be concluded by the end of the year. Volkswagen also plans to acquire 50% of JAG (JAC’s parent company), and in December 2023, JAC Motors announced that it had signed a cooperation agreement with Huawei. The two companies will cooperate in manufacturing, sales and service to develop premium EVs based on Huawei’s intelligent vehicle solutions.
As of January 2024, JAC Motors has a market cap of $3.87 Billion.
Website: https://jacen.jac.com.cn/
CEO: Jin An
HQ: Hefei, China
Dongfeng Motor | China | Market Cap: $3.24B
Dongfeng Motor Corporation Ltd. is a Chinese state-owned automobile manufacturer headquartered in Wuhan, Hubei. Founded in 1969, it is currently the third largest of the “Big Four” state-owned car manufacturers of China, namely: SAIC Motor, FAW Group, Dongfeng Motor Corporation, and Changan Automobile, with car sales of 5.37 million, 3.50 million, 3.28 million and 2.30 million in 2021 respectively.
The company develops and markets vehicles under its brandings, such as Venucia, Fengdu, Voyah, Aeolus, and Forthing, as well as under foreign-branded joint ventures such as Dongfeng-Honda, Dongfeng-Nissan and Dongfeng-Peugeot Citroën (all via subsidiary Dongfeng Motor Group). In 2021, foreign-branded cars took 79% of sales. It also produces electric vehicles under some of the previously listed brandings, including dedicated EV brands such as Voyah.
As a state-owned enterprise in China, Dongfeng is controlled and managed by SASAC, which under Chinese law performs the functions of an investor.
As of January 2024, Dongfeng Motor has a market cap of $3.24 Billion.
Website: http://www.dongfeng-global.com/
CEO: Zhu Yanfeng
HQ: Wuhan, China
Leapmotor | China | Market Cap: $3.32B
Leapmotor was founded in December 2015 and is based in Hangzhou, China. On June 13, 2018, at CES Asia, Leapmotor announced that its first domestically produced artificial intelligence (AI) chip, called “Lingxin 01”, has entered the integrated verification stage. This AI chip was jointly developed by Leapmotor and Zhejiang Dahua Technology Co., Ltd (Dahua Technology) and was scheduled to be tested in vehicles in the second quarter of 2019. Lingxin 01 is designed for self-driving cars and has the following features: Deep learning and cutting-edge computing power. The company vertically integrates high-margin components by developing and manufacturing proprietary components such as electric traction motors, vehicle CPUs, and LED lighting. In October 2018, Leapmotor announced plans to launch three new models between 2018 and 2021, including the LP. -S01, LP-T03 and LP-C11 are based on S, T and C vehicle platforms respectively. In June 2019, the first product, the Leapmotor S01 electric 2-door coupe, will be launched in the Chinese market. A prototype was unveiled at the Guangzhou Motor Show 2017. At that time, the company had raised capital of 380 million yen and construction of the factory had begun. The S01 was originally announced as the LP-S01 Coupe in early 2018. The first delivery of S01 took place in June 2019. In May 2020, Leap Motor and Chinese state-owned automaker FAW entered into a strategic partnership to jointly develop intelligent electric vehicle models. The agreement also includes cooperation on research and development, manufacturing, production and application of core components of intelligent electric vehicles, and further research on the development of key basic technologies and innovation of production means. On May 11, 2020, Leapmotor officially launched its second mass-produced EV, the Leapmotor T03 electric city car. A total of three models will be released this time, with the price range after subsidies ranging from 65,800 to 75,800 yuan (approximately $9,280 to $10,691). Leapmotor T03 has a 36.5kWh capacity battery pack and an NEDC range of 403km. In November 2020, Leapmotor officially launched its third mass-produced EV, the Leapmotor C11 electric crossover, based on the 2019 C-More concept. The C11 is powered by dual electric motors with a combined rating of 544 PS (536 hp / 400 kW) and 720 Nm (531 lb-ft) of torque. The Leapmotor C11 has a mileage of approximately 600 km (404 miles).
As of January 2024, Leapmotor has a market cap of $3.32 Billion.
Website: https://en.leapmotor.com/
CEO: Zhu Jiangming
HQ: Hangzhou, Zhejiang, China
Yulon Motor Company | China | Market Cap: $2.37B
Yulon Motor Co., Ltd. was founded in September 1953 by Yen Chinglin as a machinery company and is now part of the Taiwanese conglomerate Yulon Group. The company is involved in the creation of Taiwan’s automobile industry with the support of the Taiwanese government. This pattern is being realized again by Malaysia’s Proton. From 1953 to 1960, the era of “negative protection” reigned, and Euron grew with the support of protective tariffs ranging from 40% to 60%. Tariffs on parts and components were significantly reduced to support emerging automakers. Yuron initially sought a foreign partner, but it was not until 1956 that the American company Willis agreed to share technology. The following year, Yutaka began a long-term partnership with Nissan. Yulon’s first model was the Jeep in 1956, and engine production began in September of the same year, but passenger car assembly began with the Bluebird in 1960 after a contract with Nissan was signed. While Yutaka primarily manufactured Nissan models and other cars under license, he designed and produced at least one original his family car, the 1986 Feeling 101. (Yue Loong resumed production of completely original products starting in 2009 with the debut of the Luxgen brand.) All license-produced Nissan cars were named Yue Loong until July 1994 when the company changed to using the Nissan badge. (Yue Loong since 1992). The Nissan-branded Cefiro A32 began production in February 1996 and became Taiwan’s best-selling car.
Yulon was one of the first major Taiwanese companies to expand into China in the 1990s, setting up facilities in the southern province of Fujian at a time when Chinese President Xi Jinping, then a senior Communist Party official in the region, was aggressively wooing Taiwanese investment.
Current Chairman Kenneth Yen is the only son of Tjing-ling and Wu. He succeeded Wu as Yulon’s chairman in 2007. He has a bachelor’s degree in business administration from Rider University in the U.S.
As of January 2024, Yulon Motor Company has a market cap of $2.37 Billion.
Website: https://www.yulon-motor.com.tw/
CEO: Li Lien Yan Chen (Chairperson & CEO)
HQ: Miaoli County, Taiwan
NWTN | UAE | Market Cap: $2B
NWTN was founded in 2016 by Alan Wu with a vision of passenger-centric experience in Dubai, the United Arab Emirates. As a green mobility technology company, NWTN has defined the Smart Passenger Vehicle (SPV) as a vehicle concept emphasizing AI technologies and personalized passenger experience.
UAE electric car maker NWTN has launched a luxury smart passenger vehicle that promises to offer cutting-edge technology suitable for business and family travel.
The Rabdan Muse, which debuted at the Pebble Beach Concours d’Elegance in California, features autonomous driving technology, AI and lifestyle personalisation.
The vehicle has been in development since 2019.
Rabdan – NWTN’s premium brand – “represents technological innovation, intelligent comfort, seamless power and noble luxury”, it said.
It was founded by Alan Wu, who believes “passenger-centric” intelligent technologies and new energy vehicles would change consumers’ perceptions of how vehicles could change their lives.
The Muse is focused on the needs of passengers for personalised travel experiences.
Its features include advanced driver assistance systems, real-time traffic navigation, customisable climate control settings, high-speed charging with an 800V battery and improved motorway driving range.
The vehicle is also built upon the Gravity Zero Platform, which is a modular, generalised vehicle architecture platform developed for all sedans, SUVs, SPVs and MPVs.
The Gravity Zero Platform claims to reduce vehicle material costs, shorten vehicle development times by up to 50 per cent, reduce vehicle development costs by up to 75 per cent and enhance vehicle product quality.
The car manufacturer also announced the launch of NWTOPIA, an ecosystem built around the Muse, which is a concept whereby a sustainable lifestyle meets technology, according to the press release.
The vehicle launch comes a month after NWTN announced it will be building an integrated production line as it expands its factory in Abu Dhabi, under a partnership to hasten the development of the emirate’s green automotive industry.
The move will create jobs for Emiratis and boost the overall sector and the green economy, the Abu Dhabi Department of Economic Development said at the time.
The Industrial Development Bureau, a unit of the department responsible for developing the industrial sector, will team up with NWTN to provide the relevant training and professional development to Emiratis, ensuring their successful integration into companies within the NWTN group.
As of January 2024, NWTN Inc. has a market cap of $2.00 Billion.
Website: www.nwtnmotors.com
CEO: Alan Nan Wu
HQ: Dubai, United Arab Emirates
Aston Martin | UK | Market Cap: $2.01B
Aston Martin is a modern, exclusive sports car brand with a unique heritage instantly recognised around the world. Founded in 1913 by Lionel Martin and Robert Bamford, Aston Martin is acknowledged as an iconic global brand synonymous with style, luxury, performance and exclusivity. The British marque fuses the latest technology, time-honoured craftsmanship and graceful styling to produce a range of critically acclaimed sports cars. After celebrating its 100th birthday in 2013, Aston Martin is looking firmly forward to its next century of “Power, Beauty and Soul”.
The first Aston Martins were created with a distinctive and individual character, handcrafted to the highest of standards, and capable of exceeding all performance expectations. Over the past century, the marque has stayed true to the original values of Lionel Martin, who believed that an Aston Martin must be “a quality car of good performance and appearance. A car for the discerning owner driver with fast touring in mind, designed, developed, engineered and built as an individual”. This philosophy has led to the creation of some of Britain’s most iconic sports cars.
Aston Martin has been independent since 2007 and today is owned by a consortium of investment houses including Investment Dar, Adeem Investment and InvestIndustrial.
The current range of award-winning sports and performance GT cars gives Aston Martin its strongest lineup in the marque’s history. Throughout 2013, Aston Martin’s centennial year, the company added the exhilarating V12 Vantage S, elegant Rapide S and the ultimate convertible Aston Martin; Vanquish Volante. These cars have joined an established range comprising Vanquish Coupe, DB9 and V8 Vantage. Information for all models is available through the ‘models’ area of this media site.
Boasting a top speed of 205mph, the V12 Vantage S becomes the fastest production Aston Martin in the firm’s 101-year history, except the ultra-exclusive One-77. In contrast, Rapide S combines Aston Martin’s characteristic performance with the practicality of four seats, cloaked in one of the most graceful bodies.
The company’s acclaimed product range forms the basis of its race cars. Built on a heritage of GT racing and culminating in a historic victory in the 1959 Le Mans 24 Hours with the DBR1, Aston Martin returned to competitive motorsport in 2005.
Consecutive GT1 class wins at Le Mans in 2007 & 2008 followed, as well as a fourth-place finish in 2009 with a new LMP1 car, the fastest petrol car in the field. In 2009, the V12 Vantage claimed a class victory at the Nürburgring 24-hour race on its race debut, with 2013 welcoming the world’s first Hybrid-Hydrogen race car to be raced at an international event in the form of a Rapide S, piloted, amongst others, by CEO Dr. Bez. The Nürburgring remains the definitive engineering sign-off test for all Aston Martin road cars. Aston Martin continues to race in the GTE classes of the World Endurance Championship.
As of January 2024, Aston Martin has a market cap of $2.01 Billion.
Website: www.astonmartin.com
CEO: Amedeo Felisa
HQ: Gaydon, United Kingdom
Conclusion
In conclusion, exploring the landscape of the 50 largest automakers by market capitalization provides a fascinating insight into the dynamic and ever-evolving automotive industry. The rankings reflect not only the financial prowess of these companies but also their ability to adapt to changing market trends, technological advancements, and sustainability initiatives.
As we’ve delved into the list, it’s evident that traditional giants continue to dominate, showcasing their resilience and strategic positioning. However, the emergence of electric vehicle manufacturers and tech-focused companies signifies a paradigm shift towards a more sustainable and technology-driven future.
The market capitalization data serves as a barometer for investor confidence and industry sentiment. It underscores the importance of innovation, environmental consciousness, and global market presence in shaping the success of automakers. The rise of electric and autonomous vehicles, coupled with a growing emphasis on sustainability, is reshaping the industry’s landscape and challenging traditional business models.
In the fast-paced automotive sector, staying abreast of market trends and technological disruptions is imperative for sustained success. Whether it’s the race to electrification, advancements in autonomous driving, or the integration of cutting-edge technologies, the 50 largest automakers are navigating a complex terrain to secure their positions in a rapidly changing world.
In essence, the list of the 50 largest automakers by market capitalization not only mirrors the financial strength of these companies but also provides valuable insights into the ongoing transformations within the automotive industry. As we move forward, it will be intriguing to witness how these giants adapt and innovate in response to emerging challenges and opportunities, shaping the future of mobility on a global scale.
Learn more about the latest automotive trends in 2024.