BAIC Group rises to 248th position in 2014 Fortune 500 report. On July 7, the US magazine Fortune issued its “2014 Fortune 500” best companies report and improved BAIC’s ranking by 88 places compared to last year.
According to Fortune magazine, BAIC Group’s revenue totaled $43,323.9 million, marking a significant revenue growth rate of 29.8%. This increase shows that BAIC has achieved global competitiveness and is now among the top 300 companies. Reshaping BAIC Group’s identity as an international brand is the core objective of Mr. Xu Heyi, chairman of the board at BAIC Group. He pointed out that while BAIC Group is already a powerful domestic car manufacturer in China, the most important step is that BAIC Group is also on its way to becoming a world-class top automotive brand.
BAIC Group follows an effective approach which consists of relying on its own0brands to achieving international recognition: first, owning independent intellectual property rights; second, developing a strong and independent global brand; and third, building a complete and efficient supply-chain (in terms of technological knowledge, production sites, quality system and sales promotion).
A key step in this direction was for BAIC Group to finalize the acquisition of the Swedish brand Saab. As a result, BAIC Group was able to create an innovative technology platform, enabling technology transfers and a valuable expansion of its R&D department.
Based on this R&D-driven approach, BAIC Group has successfully implemented an entire industry chain while simultaneously increasing its international brand awareness. The remarkable improvement in the 2014 “Fortune Global 500” list highlights BAIC Group’s positive trend and confirms its leadership role in the automotive industry.
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