BYD ranked 3rd in Fortune's 'Change the World' list

By Zhang Rui
0 Comment(s)Print E-mail, August 22, 2019
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A building of BYD electric bus factory is seen in the northern Hungarian city of Komarom, on April 4, 2017. [Photo/Xinhua]

China's new energy vehicle manufacturer BYD occupies third place on Fortune Magazine's "Change the World" list 2019 that was released on Aug. 19. 

This is the American publication's annual ranking of companies seen as using the creative tools of business to help the planet and tackle society's unmet needs. 

"BYD began life as a manufacturer of cell phone batteries and didn't make its first car until 2003. However, for three years, it has been the world's largest maker of vehicles that run partly or wholly on electricity," Fortune Magazine's editors wrote on its website. 

"The Chinese company's development of a flexible 'e-platform' for EV design and construction has been key to its success. A basic BYD model sells for a mere $8,500 or so after subsidies, [becoming] a key factor in evangelizing EVs more widely. And a recently-announced joint venture with Japan's Toyota Motors should expand BYD's global footprint." 

According to the magazine's Sustainable Leadership Monitor, BYD scored highly in areas such as Environmental Innovation, CSR Strategy and Company Management. 

The Shenzhen-based new energy technology firm was not only the sole EV maker in this year's prestigious ranking list, but also the only Chinese company to make the top 10. It was also one of the three Chinese companies to make the overall list of 52 enterprises. 

The rankings, now in its fifth year, are chosen in partnership with Fortune's expert partners at Shared Value Initiative, a global platform for organizations seeking business solutions to social challenges; and FSG, a nonprofit social-impact consulting firm. 

Fortune editors and writers then evaluate and rank the companies based on their measurable social impact, business results, degree of innovation and corporate integration. 

Stella Li, BYD senior vice president, said: "BYD is both thrilled and honored to be included again in this well-respected ranking of visionary companies using their creativity to create a better tomorrow. Each day, we work tirelessly to bring people a better life through technological innovation, dedicated to our goal of creating a more sustainable world for future generations." 

The company strives to help humanity reduce or eliminate its dependence on non-renewables to create a cleaner, greener planet, using the company's "7+4 full market strategy" and Zero Emissions Energy Ecosystem, aiming to revolutionize transport, energy generation and storage, and help create a more sustainable and healthier environment, she said. 

BYD has ranked first in global EV sales for four consecutive years (2015-2018), and its new energy vehicle footprint can be found in more than 300 cities in over 50 countries and regions around the world. 

The company's recent notable achievements include the complete electrification of Shenzhen's bus and taxi fleet in late 2018 - a world first - and the launching of Latin America's largest pure electric bus fleet in Santiago, Chile in December 2018, bringing quieter, cleaner and more eco-friendly urban transport to these communities, and many others around the world. 

By this month, BYD had reached 1GWp of total solar energy installations in Brazil, contributing significantly to the South American country making the transition to renewable energy sources. 

Meanwhile, this July, it signed a deal with Toyota to jointly develop battery-operated electric vehicles. 

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