Chinese electric vehicle giant BYD cut around 100,000 jobs in 2025, reducing its workforce to about 870,000 employees, according to ifeng. The company said the move was part of restructuring and efficiency measures, not a response to weakening demand, as competition in the EV sector increasingly centers on cost control and operational performance.
The workforce reduction comes even as BYD reported record revenue and vehicle deliveries, highlighting a broader shift in the global EV industry where automakers are balancing rapid growth with tighter margins and rising investment costs.
Record revenue and rising global deliveries
BYD reported revenue of 803.96 billion yuan (approximately $112.3 billion) in 2025, with total vehicle deliveries reaching 4.60 million units, according to National Business Daily. Overseas deliveries surpassed 1.05 million units for the first time, based on Sina data, marking a significant milestone in the company’s international expansion.
Profit declines under pricing pressure
Net profit fell to 326.2 billion yuan (around $45.6 billion), down about 19% year on year. The decline reflects pricing pressure in China’s new energy vehicle market, where competition has intensified, alongside continued spending on new technologies.
BYD maintained research and development investment at 63.4 billion yuan, supporting ongoing work in battery systems, electrification, and charging infrastructure.
New battery technology supports global push
As part of its expansion strategy, BYD launched Blade Battery 2.0 with Flash Charging 2.0 on March 5, 2026. The system enables charging from 10% to 70% in about five minutes and up to 97% in nine minutes under standard conditions.
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The company has increased its 2026 export target to 1.5 million vehicles, a 15% rise from earlier projections, reflecting stronger focus on overseas markets to sustain growth.
Domestic demand shows seasonal fluctuation
Domestic NEV sales declined by 41% in February 2026, according to CarNewsChina, largely due to seasonal factors linked to Chinese holidays. The drop occurred before the rollout of new battery technology, indicating a short-term fluctuation rather than a structural decline in demand.
Industry shift toward efficiency
BYD’s latest results illustrate a key transition in the EV industry, where manufacturers are focusing on efficiency, cost optimization, and global market expansion while continuing to invest in next-generation technologies.
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