May 2026
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Largest Automakers Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
BYD, Weichai Power, Geely Auto, SAIC Motor and Chery Automobile.
 | Founded in 1995, BYD is a leading Chinese manufacturer in the design, development, and production of new energy vehicles, or NEVs. In March 2022, the firm discontinued production of internal combustion engine, or ICE, vehicles. Its products primarily target the growing midpriced mass-market segment in China’s passenger vehicle market. The company sold about 4.3 million passenger NEVs in 2024, accounting for 35% of the Chinese passenger NEV market. Besides automobile production, the company is also engaged in handset components and assembly services, as well as the rechargeable battery and photovoltaics business. After more than 25 years of development, the company has established over 30 industrial parks worldwide. | $13 | -23% | $121B | $123B | 1.0x | 6.9x | ||
| Weichai Power Co Ltd is an industrial technology company that offers vehicles and equipment manufacturing, and logistics and supply chain services in China. The operating segments of the company are; Engines segment which includes the manufacturing and sale of engines and related parts; Automobiles and automobile components which includes the manufacturing and sale of automobiles and automobile components other than Engines; Agricultural equipment includes the manufacturing and sale of agricultural equipment (complete machineries), agricultural machineries, agricultural vehicles, and related parts; and the Intelligent logistics segment which includes forklift trucks production, warehousing technology, and supply chain solution services. | $5 | +128% | $43B | $37B | 1.1x | 7.5x | ||
| Based in Hangzhou, Zhejiang province, Geely Auto manufactures and sells passenger vehicles and automotive parts. Geely is the largest local brand manufacturer and the third-largest passenger vehicle brand in terms of sales volume in China. Including Lynk, Geely sold about 2.2 million cars in 2024. The domestic market accounts for more than 75% of Geely’s revenue, with the rest coming from other parts of the world. | $3 | +15% | $28B | $25B | 0.5x | 4.6x | ||
| SAIC Motor Corp Ltd builds and sells passenger cars and commercial vehicles. The company operates its business through two segments: the Vehicle and Parts Segment and the Financial Services Segment. The Vehicle and Parts segment focuses on the manufacturing and sale of automobiles and components. The Financial Services segment is engaged in offering various financial solutions. It generates the majority of its revenue from the Vehicle and Parts Segment. | $2 | -21% | $21B | $6B | 0.1x | 0.8x | ||
| Chery Automobile Co Ltd is a passenger vehicle company. It designs, develops, manufactures and sells a diverse and expanding portfolio of passenger vehicles, including internal combustion engine (ICE) vehicles and new energy vehicles (NEVs), to cater to the distinct and evolving needs and preferences of customers in both the domestic and overseas markets. | $3 | -- | $20B | $9B | 0.2x | 2.2x | ||
| Seres Group Co Ltd is engaged in the research and development, production, sales, and service of complete vehicles, engines, and parts. The company's main products include the AITO series, covering new energy vehicles and traditional fuel vehicles. | $12 | -41% | $20B | $12B | 0.5x | 6.4x | ||
| Automobile manufacturer Great Wall Motor is China’s market leader in the SUV and pickup truck segments. In 2024, the company sold over 705,000 Haval-branded SUVs and 285,000 WEY- and Tank-branded SUVs, making it the largest SUV manufacturer by sales volume for the 15th year. It also sold more than 175,000 pickup trucks, also ranked number one in sales volume for 25 consecutive years. China’s domestic market accounts for about 60% of Great Wall’s revenue in 2024, with the balance coming from Russia, the Middle East, South Africa, Australia, and Chile, among others. | $2 | -13% | $20B | $18B | 0.6x | 6.7x | ||
| Li Auto is a leading Chinese NEV manufacturer that designs, develops, manufactures, and sells premium smart NEVs. The company started volume production of its first model Li One in November 2019. The model is a six-seater, large, premium plug-in electric SUV equipped with a range extension system and advanced smart vehicle solutions. It sold over 500,000 NEVs in 2024, accounting for about 4% of China's passenger new energy vehicle market. Beyond Li One, the company expands its product line, including both BEVs and PHEVs, to target a broader consumer base. | $8 | -45% | $16B | $4B | 0.2x | 4.4x | ||
| Founded in 2015, XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets EVs in China. Its products primarily target the growing base of technology-savvy middle-class consumers in the midrange to high-end segment in China’s passenger vehicle market. The company sold over 190,000 EVs in 2024, accounting for about 2% of China’s passenger new energy vehicle market. It is also a leader in autonomous driving technology. | $7 | -23% | $14B | $12B | 1.1x | 37.0x | ||
| Chongqing Changan Automobile Co Ltd is engaged in automobile manufacturing. The company's own-brand models include Alsvin series, CS series, EADO series, RAETON series, Honor, and Oushang series automobiles and passenger cars. The company is also engaged in the research and development, production, and sales of automobile engines. It has also developed businesses such as mobile travel, automotive life services, new marketing, after-sales maintenance, and battery replacement services. | $1 | -28% | $11B | $6B | 0.2x | 3.7x | ||
| Dongfeng Motor Group Co Ltd is engaged in vehicle manufacturing, covering other complete business systems relating to automobiles such as R&D of automobiles, parts and equipment manufacturing, automobile finance, automobile sales, and travel business. The company’s segments include commercial vehicles, passenger vehicles, financing services, and corporate and others. The majority of its revenue is generated from the commercial vehicles segment. | $1 | -- | $10B | $6B | — | — | ||
| Guangzhou Automobile Group Co Ltd is a state-controlled producer of passenger vehicles, motorcycles, and auto parts. The company's activities are broadly classified into two segments; The vehicles and related operations segment include the production and sale of a variety of passenger vehicles, commercial vehicles, automotive parts, and related operations, and the Others segment includes mainly the production and sale of motorcycles, automobile finance, and insurance, other financing services, and investing businesses. The firm's operations are spread across Mainland China and Hong Kong. Its vehicles segment generates a majority of the revenues for the company. Geographically, it derives a majority of its revenue from Mainland China. | $1 | -14% | $8B | $8B | 0.6x | (29.6x) | ||
| Zhejiang Leapmotor Technology Co Ltd is principally engaged in the production, research and development and sales of new energy vehicles in the PRC. The company operates in two geographical segments: Mainland China, and Others. | $5 | -25% | $8B | $5B | 0.5x | 16.8x | ||
| ZEEKR Intelligent Technology Holding Ltd is headquartered in Hangzhou, Zhejiang Province, China. The principal executive offices are specifically located at Room 2301, Building 1, Dadao Wangchao Shangwu Center, Yingfeng Street, Xiaoshan District, Hangzhou. It is a premium electric vehicle brand within the Geely Holding Group. | -- | -- | $7B | $10B | — | — | ||
| BAIC BluePark New Energy Technology Co Ltd is engaged in the research and development, production, sales, and service of new energy pure electric vehicles and core components. The company operates under the Xiangjie, Jihu, and BEIJING brands, offering a range of models that include the Xiangjie S9, Alpha S Pioneer PRO, Alpha T5, Koala series, and others. | $1 | -8% | $6B | $6B | 1.4x | (16.8x) | ||
| Voyah Automobile Technology Co Ltd is an intelligent NEV brand under DFM, one of the Chinese vast central state-owned automobile groups. The group designs, develops, and sells premium NEVs, epitomizing the leap from manufacturing to smart manufacturing among Chinese brands. Drawing on the DFG's automotive manufacturing heritage, it achieves breakthroughs in safety, battery-motor-control systems, and smart technologies. The group focused on the premium segment in China's NEV market. It has launched five NEV series, such as the VOYAH FREE series, a mid-to large-sized SUV; the VOYAH DREAM series, which is a flagship luxury MPV; the VOYAH PASSION series, a flagship sedan; the VOYAH COURAGE series, a mid-sized SUV; and the VOYAH TAISHAN series, a flagship six-seat full-size SUV. | $1 | -- | $3B | $2B | 0.4x | 3.9x | ||
| WeRide Inc operates in the autonomous driving industry. The company has developed a universal autonomous driving technology platform that integrates full-stack software algorithms, modularized hardware solutions, and a cloud-based infrastructure platform. The company provides autonomous driving products and services from L2 to L4 vehicles. The products of the company includes Robotaxi, Robobus, Robovan, Robosweeper, and others. The company earns its revenue from the People's Republic of China. | $7 | -29% | $2B | $1B | 14.7x | (6.8x) | ||
| Ferretti SpA is an Italy based company. The company is engaged in the Sale of yachts to order (sale of composite yachts, made-to-measure yachts and super yachts) and the Sale of used boats. | $4 | +12% | $1B | $1B | 0.8x | 5.0x | ||
| Lotus Technology Inc is a battery electric vehicle (BEV) maker that designs, develops, and sells BEV lifestyle vehicles under the Lotus brand. The Group is also a distributor that sells luxury sports cars under the Lotus brand. It also provides other sales and ancillary services to customers. | $1 | -35% | $900M | $3B | 5.1x | (8.0x) | ||
| Coolpad Group Ltd is an investment holding company that develops and provides integrated solutions for smartphone sets, mobile data platform systems, and value-added businesses in Mainland China and internationally. The company operates in three segments: Mobile Phone, Property Investment, and Cryptocurrencies business segment. The Mobile Phone segment, which derives the majority of revenue, engages in the research, development, production, and sale of mobile phones and related accessories and the provision of wireless application service, and the Property Investment segment invests in properties for rental income potential and for capital appreciation. The company generates a majority of its revenue from Mainland China. | $0 | -- | $34M | $160M | 4.6x | (35.9x) | ||
| Median | $3 | -23% | $11B | $6B | 0.6x | 4.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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