Beijing West Smart Mobility Zhangjiakou Automotive Electronics Co, which owns global automotive supplier BWI, has made it onto the Hurun Global Unicorn Index 2024.

Established in 2022, the Chinese company was the only automotive supplier on the list of 1,453 unicorns globally, according to the index released in early April.

A unicorn is the term used in the venture capital industry to describe a startup company with a value of over $1 billion.

BWI is a tier-1 full-service supplier of intelligent chassis systems, designing and manufacturing brake and suspension systems for the global transportation market.

It sells products to more than 50 passenger vehicle brands globally, including Audi, BMW, as well as BYD, Cadillac, Ferrari and Lamborghini.

The automotive supplier has seen its development accelerating since Beijing West Smart Mobility Zhangjiakou Automotive Electronics Co acquired its majority ownership in 2022.

Late last year, BWI held the start-of-production ceremony for its manufacturing base in Zhangjiakou, Hebei province.

The base, which is BWI's largest in the world, covers 170,000 square meters. When all the three phases are finished, it can produce 6 million smart suspensions a year, said the company.

The Zhangjiakou base will see its annual output to reach 2.1 billion yuan by 2027, offering over 400 job opportunities.

BWI expects its global revenue to reach $1.1 billion this year after a bumper year in 2023. The figure is expected to reach $2.1 billion by 2028, with 42 percent coming from China.