China’s BYD Debuts as No. 3 on Fortune’s Change the World List, Promoting Shift to NEVs

Published on: August 22, 2019
Author: Amy Liu

BYD has made it to Fortune’s Change the World List for the first time, claiming third place, as the Chinese electric carmaker expands its social impact to create a cleaner future of driving. BYD, originally a phone battery maker, produced its first new energy vehicle in 2003 and since then, it has grown to become one of the world’s largest NEV manufacturers, Fortune released in the annual report that the US business magazine prepared with the Shared Value Initiative organization and NGO FSG. The list of 52 ranks firms according to measurable social impact, business performance, innovation, and integration of sustainable goals into core strategies. US chipmaker Qualcomm debuted on the list as No. 1 and financial services firm MasterCard as No. 2 this year. The prices of BYD cars are subsidized to be as low as USD8,500, which prompts shift to NEVs more widely, according to the report. Last month, BYD announced it will make NEVs with Japan’s Toyota Motor, which should expand the global footprint of the Shenzhen-based firm. Alibaba and Baidu were the only two other Chinese participants on the list as online retailer JD.Com and ride-hailing giant Didi Chuxing lost their positions this year. Alibaba fell to No. 37 from No. 5. Alibaba’s Taobao Live, a live streaming platform, aims to teach 1,000 rural farmers how to use videos to increase their sales of agricultural products by 440 million this year. Rural Taobao platform has set up service centers in more than 30,000 villages across the country and last year, vendors in China’s poorest regions sold USD8.9 billion worth of goods via Alibaba’s e-commerce channels. In the first half of this year, the value of sold products nearly doubled from the previous year. Last year, the Hangzhou-based firm was hailed for its feature on AutoNavi Software’s mapping platform, which helped bring more visitors to remote countryside towns in central Henan province. Baidu, No. 39, was celebrated for the search engine giant’s scheme to build smart information systems to aid doctors to do their work more efficiently in rural China. The Beijing-based firm’s computer vision software detects eye diseases from simple eye scans, and the company is developing similar technologies to diagnose breast cancer and pulmonary obstructions. Source: