BYD announced that it is the automotive company with the largest research and development (R&D) staff worldwide. BYD CEO Wang Chuanfu stated that the company currently employs around 1 million people, has 11 major research institutes and 110 thousand engineers.
BYD becomes the R&D leader in the automotive world
BYD’s engineering force has grown considerably in recent years. Accordingly, it has grown from 20,000 in 2011 to nearly 110,000 by 2024. This growth has been supported by a strategic focus on attracting the best talent, especially recent university graduates.
In 2022 alone, BYD will increase its workforce to nearly 570,000 people, adding more than 290,000 employees to its roster. Speaking on the subject, CEO Wang Chuanfu said, “BYD’s commitment to innovation is huge. We have the largest R&D team in the automotive industry, enabling us to push the boundaries of what is possible in clean transportation.”
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BYD’s focus on R&D has translated into real results. The company is filing an average of 32 patents a day. R&D investment exceeded approximately $21.9 billion as of the third quarter of 2024.
This investment has paid off in BYD’s sales. In the first 11 months of 2024, the company’s sales reached 3.75 million units, an increase of 40 percent compared to the same period of the previous year. In this context, the company targets 4.27 million vehicles, exceeding its target of 3.6 million sales in 2024.
