Time, one of the most influential magazines in the world, has released its latest issue, which discusses the world's 100 most influential companies. This is the first time that the magazine has released such a list as an expansion of its TIME100 franchise.
The unranked list highlights 100 businesses that make an extraordinary impact around the world. Included in Time's list are four automotive companies, namely: USA's General Motors and Tesla, Germany's Volkswagen, and China's BYD.
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General Motors is listed among the Titans category, with CEO Mary Barra gracing the magazine's cover. The company is included in the list for its contributions in engineering a greener future, employing a stark comparison with Tesla.
Tesla, on the other hand, is listed among the Disruptors category. Its status as a relatively young automaker and a leader in the renewable electric-energy sector cemented its position on the list.
Time lists Volkswagen under the Leaders category, which is cited for its efforts to lead the EV segment. Of note, the German automaker wants to overtake GM, Tesla, and other zero-emissions automakers in EV sales by 2025.
BYD Co. Ltd. goes under the Innovators category. The Chinese company, which means Build Your Dreams, has the backing of the American tycoon Warren Buffett and among the world leaders in making electric mobility possible in various sizes.
Time says that it used solicited nominations across various sectors to assemble the list, most notably from its global network of editors and correspondents, as well as from industry experts. These are then evaluated based on their relevance, impact, innovation, leadership, ambition, and success.
Time sees these companies and the leaders behind them shape the future and "chart an essential path forward."