China's auto industry sees rapid development in 2024, new energy vehicle penetration rate exceeds 50%, and Xiaomi's market value jumps to third among global car companies

In 2024, China's auto industry ushered in rapid development, with the market penetration rate of new energy vehicles exceeding 50% for the first time, and ranking first in global auto exports.

 According to the latest data, BYD once again won the global new-energy vehicle sales title with 4,272,100 units sold, while Tesla, despite a decline in sales, still maintains the top spot in market capitalization, reaching $1,296.351 billion. Toyota followed closely behind, ranking second with a market capitalization of $262.69 billion.

Notably, Xiaomi, with its diversified business and newly launched electric cars, has seen its market capitalization rise sharply to $112.006 billion, and has managed to rank third in the global car company market capitalization rankings. 

In addition, BYD and Xiaomi's performance shows the rise of China's own brands in the international market, which is expected to continue to lead the global automotive industry in the coming years.

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