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TIME Magazine recently released “TIME 100 Most Influential Companies 2024,” and in the fields of new energy vehicles and lithium batteries, seven companies from around the world entered the list this year, including Toyota, BMW, BYD, Xiaomi, VinFast, Envision Energy, and Redwood Materials.

BYD has been on the list for four consecutive years, while Xiaomi and Envision made the list for the first time in 2024, and CATL was on the list from 2022 to 2023. It is worth mentioning that Xiaomi’s main reason for making the list is not its phone, but its first electric car, the SU7.

TIME Magazine divides the 100 companies on the list into five distinct groups: Leaders, Disrupters, Innovators, Titans and Pioneers.

BYD and Envision were selected in the Titans category, along with other companies including Amazon, Airbus, Disney, and NVIDIA.


In 2023, BYD replaced Tesla to become the world’s largest new energy vehicle manufacturer. TIME Magazine said of BYD: “BYD, which stands for Build Your Dream, has become a nightmare for American automakers.” TIME Magazine believes that BYD’s almost fully integrated production model from motors, batteries, dashboards to body provides a strong price competitiveness for its products. “BYD’s well-crafted cars are disrupting the industry in a manner not seen since Japanese auto firms arrived in the 1970s,” said TIME Magazine.

As for Envision Energy, TIME believes that as a green giant in wind power, energy storage, green hydrogen, power batteries, IoT and other fields, Envision has made remarkable achievements in the field of green technology. In the Ordos Zero-Carbon Industrial Park, Envision’s first phase of 10.5GWh battery capacity was commissioned in 2022. Additionally, to meet the demands of top-tier clients such as Mercedes-Benz, BMW, and Renault, Envision has established 13 major production bases in China, Japan, USA, UK, France, and Spain. The model of the zero-carbon industrial park has been replicated globally.

Another lithium-ion player, Redwood Materials, is one of the Innovators on TIME’s list. Redwood Materials is a battery recycling and parts manufacturer founded in 2017 by JB Straubel, Tesla’s co-founder and former chief technology officer. “The company received a $2 billion Department of Energy loan, and the substance of Straubel’s vision has attracted many big-name customers, including Ford, Toyota, Volkswagen, Audi, Panasonic, and Lyft,” TIME noted.

In 2023, Redwood Materials signed a long-term agreement with Toyota to extract new materials from Toyota’s used batteries for electric vehicles to support the production of its new batteries. Previously, Redwood Material has also been bound to a number of leading global battery companies and automakers such as Volkswagen, Ford, Volvo, Panasonic, and Envision Energy, establishing strong channels and customer bases. It is worth noting that Redwood Materials was also named one of TIME 100 Most Influential Companies 2022.

Source: WeChat Official Account—CBEA电池中国

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