BYD's 2025

BYD's 2025 came to a close with contrasting results but indicative of a new competitive phase in the electric vehicle sector. Overall, the picture that emerges is that of a company undergoing a transitional phase.

The Chinese manufacturer recorded a reduction in its workforce to about 870,000 employees, down by approximately 100,000 units compared to the previous year. The company attributes this downsizing to internal restructuring efforts, improvements in operational efficiency, and cost optimization, rather than a weakening of demand.

At the same time, key industrial and financial indicators reached new highs. Revenues hit 8.0396 trillion yuan (approximately 1.123 trillion dollars), while vehicle deliveries stood at 4.6 million units. The contribution from foreign markets also increased, with about 1.05 million vehicles exported, marking the first time this figure surpassed the million threshold.

Despite these numbers, profitability shows signs of pressure. Net income settled at 326.2 billion yuan (45.6 billion dollars), down by about 19% year-on-year. This was primarily influenced by price competition in the domestic new energy vehicle (NEV) market and high levels of technological investments.

In this context, BYD maintained a research and development expenditure of 634 billion yuan, supporting the development of electrification systems, batteries, and charging infrastructure. This is a key element in the group's strategy, which continues to focus on innovation to sustain competitiveness in the medium term.

On the technological front, the company introduced the Blade Battery 2.0 paired with the Flash Charging 2.0 system in March 2026. According to statements, the new platform allows charging from 10% to 70% in about 5 minutes and up to 97% in 9 minutes under standard conditions. The evolution of batteries is accompanied by the development of high-power charging infrastructure, considered strategic for promoting large-scale adoption.

International growth remains a pillar of strategy. BYD has indeed revised upward its export target for 2026 to 1.5 million vehicles, approximately 15% higher than previous estimates. Expanding beyond Chinese borders is seen as a leverage to offset increasing domestic competition.

In February 2026, NEV sales in China experienced a decline of 41%, primarily attributed to seasonal factors related to holidays. This figure, preceding the introduction of the new generation of batteries, is interpreted as a temporary fluctuation rather than a structural change in demand.