BYD's total workforce exceeded 900,000, the most of any of the more than 5,300 Chinese A-share listed companies and 400,000 more than the second-place company.
BYD (HKG: 1211, OTCMKTS: BYDDY), China's biggest new energy vehicle (NEV) maker, also has the most employees.
The total number of BYD employees topped 900,000 today, the most of any of the more than 5,300 Chinese A-share listed companies, the NEV maker's general manager in charge of branding and public relations, Li Yunfei, said today on Weibo.
That number is 400,000 more than the second-place company, Li said, attaching a screenshot showing BYD's current workforce of 900,608 employees.
Of BYD's total workforce, nearly 110,000 are in technical research and development, making it the automaker with the largest R&D staff in the world, Li said.
BYD has recruited nearly 50,000 fresh college students in the past two years, he said.
BYD Group's businesses include automobiles, batteries, consumer electronics assembly, and rail transportation, with the automotive business comprising brands including BYD, Denza, Fang Cheng Bao, and Yangwang.
As of the end of 2023, BYD's workforce totaled 703,504, including 524,673 production staff and 104,003 technicians, according to its previous annual report.
This means that BYD has seen a net increase of nearly 200,000 employees so far this year.
On July 24, BYD said more than 10,000 recent college graduates had joined the company, of which nearly 70 percent have master's or doctoral degrees and nearly 80 percent are research and development personnel.
BYD first entered the auto industry in 2003 when it acquired Qinchuan, a manufacturer with a license to build cars.
It ceased production and sales of cars powered entirely by internal combustion engines in March 2022, focusing instead on the production of plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV) models.
BYD has rapidly become the largest NEV maker in China and globally over the past few years, selling 3,024,417 NEVs in 2023, a 62.3 percent year-on-year increase.
In January-August this year, BYD sold 2,328,449 NEVs, up 29.92 percent year-on-year.
Earlier this month, Morgan Stanley said in a research note that BYD's management raised its 2024 sales target to 4 million units. However, this was subsequently denied by Li.
JP Morgan expects BYD to reach 6 million global deliveries by 2026
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