BYD is in a fierce competition with Tesla to lead global electric car deliveries, leading to massive growth—and 200,000 new hires in just three months.
While European car manufacturers face financial struggles and layoffs, BYD has hired nearly 200,000 people between August and October to ramp up car production and components.
The company’s deputy director, He Zhiqi, confirmed the hiring surge to Reuters, noting that the figure is equivalent to the entire global workforce of Volkswagen.
In total, BYD now employs over 900,000 people.
BYD’s financial success backs this expansion.
In Q2 2024, its earnings rose by 24% compared to Q1.
According to Inside China Auto, BYD sold over 500,000 cars worldwide in October alone. Although it’s known for electric vehicles in many markets, BYD’s hybrid cars drive most of its sales, with 1.9 million hybrids and 1.35 million electric cars sold so far this year.
To avoid EU tariffs, BYD is building two factories in Europe: one in Hungary and another in Turkey.
Meanwhile, European carmakers are facing tough times.
Audi recently announced the closure of one of Belgium’s only two car factories, resulting in thousands of layoffs.
