Chinese BYD overtook Volkswagen in the ranking of the most expensive car companies

Chinese BYD overtook Volkswagen in the ranking of the most expensive car companies 1

The first place in this rating belongs to the American manufacturer of electric cars Tesla, whose capitalization has reached $728.8 billion.

The second result of $228.9 billion belongs to Toyota, and the bronze goes to the Chinese automaker BYD ($128.8 billion). A company from China managed to bypass the German automaker Volkswagen ($117.6 billion).

Back in February of this year, it became known that BYD decided to stop producing cars with internal combustion engines. Instead, the brand is going to concentrate all its resources on the production of hybrids and electric cars.

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Interestingly, BYD works almost completely independently from suppliers. The company itself produces batteries and electronics needed for the production of cars. The main market for the automaker is China and the brand is also represented in Norway and several South American countries.

Chinese BYD overtook Volkswagen in the ranking of the most expensive car companies 3