Fortune magazine has released its inaugural Fortune China Tech 50 list,Cat 3 movies highlighting 50 Chinese technology companies that are impacting the world. Telecoms giant Huawei tops the list ahead of EV and battery behemoth BYD. The list in particular spotlights the rise of CATL, which is ranked third, ahead of Alibaba, Tencent, Xiaomi, Baidu, ByteDance, JD.com, and Lenovo. CATL is a global leader in new energy batteries, known for its cutting-edge work in all-solid-state battery technology. The company expects to begin small-scale production of an all-solid-state battery by 2027. The market analysis firm SNE Research reports that CATL has led the global market in EV battery usage for seven consecutive years and has topped global energy storage battery shipments for three years. The Fortune China list emphasizes “the strong innovation capabilities” that the companies have displayed and states that, “Their success lies not only in specific technologies and products, but also in the innovative spirit and global vision they represent.” [Fortune China, in Chinese]
