BYD is now the world’s largest automaker by R&D workforce after major hiring spree

China’s BYD now has the world’s largest R&D workforce of any automaker after its latest hiring spree. With over 900,000 employees, BYD aims to continue climbing the global sales charts as it advances new tech to promote longer-range, more affordable EVs.

BYD becomes world’s largest automaker by R&D staff

After selling more vehicles than Honda and Nissan in the second quarter of 2024, BYD became the world’s seventh-largest automaker.

BYD sold 980,000 vehicles in Q2, representing a 40% jump from last year. After a recent hiring spree, BYD plans to keep the momentum rolling.

According to BYD’s branding and public relations general manager, Li Yunfei, the company now has over 900,000 employees. Li posted a screenshot on social media, showing BYD’s staff reached 900,608.

At the end of last year, BYD had just over 700,000 employees, meaning it added nearly 200,000 positions in 2024.

According to Li, BYD is one of the largest employers in China and is the largest employer of the over 5,300 companies listed on China’s mainland stock exchange. Li also said BYD is also the world’s largest automaker in terms of R&D staff, with over 110,000 employees.

The company has recruited nearly 50,000 college graduates over the past two years to bolster research and development.

BYD’s hiring spree comes as rivals, mainly joint venture brands, are cutting positions amid China’s intensifying EV price war. A Reuters report in March claimed Volkswagen and GM planned to slash jobs by double digits in China through partnerships with SAIC.

With new low-cost, efficient EVs hitting the market, BYD continues to see higher demand. In August, BYD sold over 373,000 new energy vehicles (NEVs), setting a new NEV sales record for the third straight month.

To secure a leadership role in the software-defined electric era, BYD is doubling down on R&D with heavy investments in smart driving, connectivity, and battery tech.

Electrek’s Take

After topping Honda and Nissan, BYD is aiming even higher. According to data from Yiche (via CarNewsChina), BYD was the third top-selling car brand globally in July.

BYD continues rolling out new tech, like its e-Platform 3.0, which offers better efficiency and faster charging at a lower cost.

As the world’s second-largest EV battery maker, BYD already has a major advantage. With a massive, young R&D team behind it, BYD looks to continue surpassing the competition.

As it expands outside of China, BYD will rely on local production to drive overseas sales. BYD plans to open plants in Turkey, Mexico, Brazil, and Pakistan as it enters new markets.

Although BYD is best known for its affordable electric models, the auto giant is expanding into new segments like pickup trucks, luxury vehicles, and midsize SUVs. It’s also rolling out 2025 models with added LiDAR as it doubles down on smart driving tech.

Source: Li Yunfei, CnEVPost