While market value may not always mirror true strength, it serves as a significant indicator of capital's confidence in a company. Consequently, it plays a pivotal role in assessing a firm's capabilities.

This prompts the question: How do Chinese auto enterprises fare on the current global market value ranking?

The top 10 global auto enterprises by market value currently include Tesla, Toyota, Xiaomi, BYD, Ferrari, Mercedes-Benz, BMW, Volkswagen, Maruti Suzuki, and General Motors. Among these, two are from China, two from the United States, one from Japan, three from Germany, one from Italy, and one from India.

Evidently, Chinese auto enterprises have truly ascended, with two ranking among the top 10 globally and holding impressive third and fourth positions.

Specifically, Xiaomi ranks third globally with a market value of $177.25 billion, closely trailing Toyota in second place with $241.28 billion. BYD ranks fourth globally with a market value of $153.69 billion. These two Chinese auto enterprises' market values even surpass renowned global brands like Ferrari, Mercedes-Benz, BMW, Volkswagen, and Porsche, a truly remarkable achievement.

However, some may question Xiaomi's third-place ranking, as automotive revenue currently contributes less than 20% of its total revenue. How can it be considered an auto enterprise?

In fact, as Xiaomi's vehicle deliveries increase, so will its future automotive revenue share. Xiaomi's automotive division is poised for rapid growth and will become a significant revenue source. Therefore, classifying it as an auto enterprise is not an exaggeration.

As for BYD, it stands as the world's leading new energy vehicle enterprise, with pure electric vehicle sales long surpassing Tesla's to claim the global top spot. Thus, ranking fourth somewhat undervalues its position.

Historically, China's auto industry lagged behind Europe and the United States by over a century. However, with the advent of new energy vehicles, China's auto industry has finally taken the lead and caught up.

In the realm of new energy vehicles, China is undoubtedly a leader. It is anticipated that more Chinese auto enterprises will join the global top 10 in the future, surpassing numerous European and American brands.

This underscores a crucial point: In a race where the rules are set by others (fuel vehicles), it's challenging to overtake them. Only by stepping out of that race, changing lanes (to new energy), and redefining the rules can we emerge as leaders.