Top 5 Chinese Automotive OEMs to Know in 2024

In 2008, China emerged as the world’s largest car market and producer, a position it has maintained since then. Despite this, many people, particularly those in developed countries, struggle to name any Chinese automotive manufacturers. However, with China exporting more cars than any other country in recent years, it’s essential to recognize the top players in this dynamic market. Here are the top 5 Chinese automotive OEMs to know in 2024, based on sales volume and market capitalization.

1. BYD

Founded in 1995 as a battery producer, BYD transitioned to car manufacturing in 2005 and has since become a major player in the automotive industry. Specializing in new energy vehicles (NEVs), BYD boasts four brands: BYD, Denza, Leopard (Fangchengbao), and Yangwang. With a focus on clean energy vehicles, BYD has positioned itself as the world’s fourth-largest car brand. The company’s vertical integration sets it apart, allowing it to develop and produce its own batteries while supplying them to other manufacturers through its subsidiary, FinDreams. This integration has enabled BYD to achieve class-leading energy density with its Blade battery technology, enhancing both performance and safety.

2. Geely

Best known as the owner of Volvo, Geely has rapidly expanded its brand portfolio in recent years. With 2.79 million cars sold in 2023, Geely has established itself as a key player in the global automotive market. The company’s diverse brand portfolio includes EV-dedicated marques such as Polestar, Smart, Zeekr, and Radar, as well as Lynk & Co, LEVC, Proton, and Lotus. Geely’s international presence and strategic partnerships have positioned it as one of the most dynamic and forward-thinking Chinese automotive OEMs.

3. SAIC Motor

SAIC Motor has been the top-selling automaker in China for eighteen consecutive years, with sales of 5.02 million vehicles in 2023. While the company initially relied on joint ventures with Volkswagen and General Motors, it has seen rapid growth in sales of its own brands in recent years. SAIC’s brands include MG, Roewe, IM, and Maxus (LDV), which collectively accounted for 55% of total sales in 2023. Additionally, SAIC has emerged as China’s largest car exporter, further solidifying its position as a global automotive powerhouse.

4. Changan

Changan, one of China’s best-selling automotive brands, has gained prominence in recent years, particularly in the electric vehicle (EV) market. With a strong focus on EVs, Changan has introduced new energy brands such as Changan Nevo, Deepal, and Avatr, catering to various segments of the market. Strategic partnerships with industry leaders like Huawei, NIO, and CATL have enhanced Changan’s profile and competitiveness in the rapidly evolving NEV market.

5. CATL (Contemporary Amperex Technology Co. Limited)

Although not an auto producer, CATL plays a crucial role in the Chinese car market as a leading supplier of battery packs for NEVs. With a global market share of 37.4% in EV batteries, CATL dominates the industry, supplying batteries to both domestic and international automakers. The company’s vertical integration and focus on research and development have enabled it to maintain its leadership position and drive innovation in battery technology.

In conclusion, these top 5 Chinese automotive OEMs represent the forefront of China’s booming automotive industry. With their focus on innovation, sustainability, and global expansion, these companies are poised to shape the future of transportation worldwide.