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According to the latest ranking of global car companies' market capitalization, Tesla is still the world's largest car company by market capitalization, far ahead of other car companies with 728.98 billion US dollars. Toyota came in second with a total market capitalization of $228.96 billion, just 30 per cent of Tesla's market capitalization. In third place is BYD, with a total market capitalization of $128.81 billion, surpassing Volkswagen and the only Chinese car company in the top 10. In addition, the fourth to tenth places are Volkswagen Group, Mercedes-Benz, BMW Group, General Motors, Ford Motor, Stellantis Group and Honda Motor.

Unlike traditional carmakers such as GM and Ford, Tesla is more like a technology company, which may be one of the main reasons why its market capitalization is much higher than that of other carmakers. Since Tesla CEO Musk announced on April 4 that he would buy Twitter, the electric car giant has fallen 35.13%, from $1089.38 to $703.55, with a total market capitalization of $394.757 billion, or about 2.63 trillion yuan at the latest exchange rate of the dollar to the yuan. "I have a very bad feeling about the US economy," Musk said in an internal email titled "suspension of global recruitment" obtained by Reuters three days ago. " In the email, Tesla CEO Musk said Tesla needed to "cut about 10 per cent of staff" and "suspend global recruitment". Affected by the news, Tesla's share price fell 9.22%, wiping out $74 billion (500 billion yuan) in market value overnight.

As a Chinese version of Tesla, new energy car company BYD has grown strongly in the past month and surpassed Volkswagen Group. On April 3, BYD announced that it would stop production of fuel vehicles, focusing on pure electric and plug-in hybrid vehicles, becoming the first traditional carmaker in the world to stop selling fuel vehicles. Data show that BYD's cumulative sales of new energy passenger cars from January to May were 504000, including 114000 in May. Although BYD's car sales are not as good as those of Volkswagen Group, if only new energy vehicles are counted, BYD's sales volume is higher than that of car-building new forces, such as NIO, ideal, Xiaopeng, Nezha, Zero, Guangzhou Automobile Ean, Polar Krypton, Lanto, Weima, Volkswagen ID. Series, a total of ten car companies have more sales data combined.

Of course, it's not just the auto business that is propping up BYD's share price and market capitalization. In addition to the auto business, BYD also has two business segments: mobile phone components and assembly, rechargeable batteries and photovoltaic, which accounted for 40% and 8% of the company's total revenue in 2021, respectively. In terms of the development of major business sectors, BYD's total revenue in 2021 was 216.142 billion yuan, an increase of 38.02% over the same period last year. Of this total, revenue from automobile, automobile-related products and other products business was 112.489 billion yuan, up 33.93 percent from the same period last year; revenue from mobile phone parts, assembly and other products business was 86.454 billion yuan, up 43.99 percent from the same period last year; revenue from rechargeable batteries and photovoltaic business was 16.471 billion yuan, up 36.27 percent from the same period last year.

Volkswagen, which is second only to Toyota in market share, was overtaken by BYD despite a 12.24% month-on-month increase in market value in May. Volkswagen CEO Dis said on May 26th that the supply of semiconductors had improved significantly and that Volkswagen Group's global production was expected to recover for the rest of the year. At the same time, Deiss believes Volkswagen can overtake Tesla to become the world's largest electric car maker by 2025. Destan said that Tesla does have some advantages, "but if they want to further improve, it may be more challenging."

At present, there are only three new power car companies listed in the United States, namely, NIO, Xiaopeng and ideal, which have not been comfortable in the United States recently. On April 21st, the Securities and Exchange Commission (SEC) listed 17 Chinese companies, such as ideal Motor, as "pre-picked". On May 4, the US Securities and Exchange Regulatory Commission (SEC) added 88 Chinese-listed companies, including NIO and Xiaopeng Motor, to the "pre-removed" list. At this point, "Wei Xiaoli" three new power car companies in China have been included in the "pre-picked" list. Affected by this, the stock prices of NIO, Xiaopeng and ideal have fallen sharply.

Due to the impact of the epidemic and the supply of spare parts, the sales and performance of domestic and foreign car companies have declined, and the market capitalization has also shrunk. At present, vigorously developing new energy vehicles seems to have become the common goal of global auto companies, including Toyota, Volkswagen, Volvo, Ford, General Motors, BMW, Mercedes-Benz and so on. This will have a direct impact on the market capitalization of the enterprise. In addition, unlike the global market, most multinational car companies face challenges such as factory shutdowns, supply chain disruptions, and pressure on sales, while in the domestic market, in order to boost car consumption, local governments have also introduced measures to stimulate car consumption, which has also played an important role in the recovery of the automobile market.

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