BYD launched the Formula S electric sedan and GT under its Fang Cheng Bao sub-brand, starting at under $29,000 and undercutting Tesla's Model 3. Both models feature Blade Batteries, Flash Charging technology enabling 10-70% charge in 5 minutes, and advanced driver assistance systems.
BYD has canceled its annual profit bonus for employees this year due to a 19% decline in parent company net profit for 2025. Bonuses will now depend on actual divisional profitability and individual performance, with loss-making units receiving little or nothing, shifting from the traditional seniority-based system.