Byd's Workforce Nearly Doubles Toyota's Amid China's Booming Ev Market
Electrek 5:53 pm on May 29, 2024
BYD has significantly expanded its workforce, nearly doubling the size of Toyota's workforce as China experiences a surge in electric vehicle (EV) sales. The company reported over 50,000 additional employees since 2019 and expects further growth amidst global EV market expansion.
- Workforce Expansion: BYD's employee count has nearly doubled that of Toyota's, reflecting a broader trend in the industry as China leads electric vehicle sales.
- EV Market Surge: With China accounting for 60% of global EV and PHEV sales in 2022, BYD is positioned to benefit from this growth through its extensive workforce expansion.
- Affordability Drives Sales: The significant drop in electric car prices has bolstered the market, with EVs now offering better value than internal combustion engine vehicles for 55% of buyers in China.
- Diversified Product Lineup: BYD is not only expanding its workforce but also diversifying into various types of electric and hybrid models to capture a larger market share.
- Future Growth Potential: The continued focus on EVs suggests that BYD's workforce growth will likely keep pace with industry trends, potentially surpassing competitors like Toyota in the future.
https://electrek.co/2024/05/29/byds-workforce-nearly-doubles-toyotas-ev-sales-surge/