BYD's 2025 "Report Card" Released: Revenue Surpasses 800 Billion Yuan

Revenue of 804 billion yuan, net profit of 32.6 billion yuan, domestic taxes in the same period as high as 53.3 billion yuan, R&D investment of 63.4 billion yuan, and cash reserves of 167.8 billion yuan—on the evening of March 27, BYD unveiled its 2025 “report card.”

In his annual report remarks, BYD Chairman Wang Chuanfu said that competition in the new energy vehicle industry has become extremely intense and is now going through a ruthless “elimination round.” In a period of major industry change, old and new drivers are accelerating their switch, and technology must take center stage. BYD, driven by both technological innovation and globalization, has demonstrated strong resilience and growth momentum, while injecting powerful momentum into the upgrading of the global auto industry and environmentally sustainable development.

Big R&D funding supports rapid deployment of technological achievements

“Since the day it was founded, BYD has made it clear that technology is the foundation for standing on its own, and that we must solidly accumulate technology.” Wang Chuanfu said. According to the annual report, in 2025, the company’s R&D investment reached 63.4 billion yuan, up 17% year over year, with cumulative R&D investment exceeding 240 billion yuan.

While continuing to invest heavily in R&D, BYD has also accelerated the pace of deploying its technological achievements. In 2025, technologies such as the “Divine Eye” driver-assistance system and the fifth-generation DM continued to be optimized, constantly pushing the limits of technology and setting industry benchmarks.

In early March 2026, BYD released its second-generation Blade Battery and fast-charging technology. At room temperature, charging from 10% to 70% takes only 5 minutes, from 10% to 97% takes only 9 minutes. Even at -30°C, charging from 20% to 97% takes only 12 minutes, creating a global record for the fastest charging speed for mass production.

Regarding intelligentization, Wang Chuanfu said: “We will push AI deep into R&D, manufacturing, services, and all travel scenarios, so that technology has more warmth, is more perceptible, and more trustworthy.”

Advancing on two fronts: globalization and premiumization

The deepening of the company’s technological moat has also helped drive continued growth in sales.

In 2025, BYD sold more than 4.6 million vehicles throughout the year, ranking for the first time among the world’s top five auto groups by volume, and also winning the global new energy vehicle sales champion, the China market auto sales champion, and the sales champion among China brands.

While steadily expanding in scale, BYD has made breakthroughs in globalization and premiumization. The annual report shows that the company’s total vehicle exports for the year first exceeded 1 million units, up 1.4 times year over year. As of now, BYD’s business is present in 119 countries and regions worldwide, and overseas sales reached 1.05 million units, up 145%.

At the same time, the brands Fangchengbao, Denza, and Yangwang together sold 397,000 vehicles last year, up 109%, and their share of total sales increased by nearly one time compared with 2024.

In response, Wang Chuanfu said: “Whether it’s brand going upward or development heading overseas, globalization is a path that cannot be bypassed. Especially with the big trend of new energy vehicles already set and the direction irreversible, we will make full use of two markets and two types of resources. Together with partners across the global industrial chain, we will build products with local brand attributes, providing global consumers with more green technology and eco-friendly experiences, while ensuring that the dividends of China’s new energy vehicle industry benefit even more peers worldwide, and jointly advance the world’s auto industry toward intelligentization, greening, and integration.”

In 2025, BYD’s total domestic tax payments reached 53.3 billion yuan, exceeding net profit for the same period. In terms of sustainable development, BYD firmly targets “carbon neutrality across the entire value chain by 2045.” In 2025, BYD’s carbon emission reduction across the full lifecycle of its new energy vehicles reached 46.6 million tons.

Author: Liu Yipeng

A wealth of information and precise analysis—All available on the Sina Finance APP