BYD beats Tesla in future readiness rankings: report

GENEVA -- Chinese automaker BYD has overtaken Tesla in the future readiness rankings, an indicator referring to a company's ability to anticipate and adapt to external changes, according to a report released Tuesday by a Swiss business school.

The "Future Readiness Indicator 2025," compiled by the International Institute for Management Development (IMD), found the automotive industry being upended by electrification, digitization and geopolitical shifts.

"Any overnight success is decades in the making," Howard Yu, LEGO professor of management and innovation and director of IMD's Center for Future Readiness, told Xinhua ahead of the report launch. "What makes BYD extraordinary is the integration of battery semiconductor chipsets and manufacturing."

BYD, along with Tesla and two other Chinese electric vehicle manufacturers -- Geely and Li Auto -- now occupy the top four spots in the auto category. "The top tier is dominated by companies with a strong EV and software focus," Yu noted.

The 2025 indicator assesses 40 financial institutions, 21 automakers and 26 consumer packaged goods firms on criteria including innovation, regulatory agility and customer engagement.

Chinese companies' localization efforts allow Western audiences to recognize them not just as Chinese brands with advanced technology, but as truly global enterprises that adapt to local markets, Yu highlighted.