BYD (Build Your Dreams), a leading Chinese electric vehicle (EV) manufacturer, has made significant strides globally, having sold over 3 million vehicles, including 1.6 million battery electric vehicles (BEVs) and 1.4 million hybrid electric vehicles (HEVs). Despite this success, BYD has zero cars on the road in America, a stark contrast to its performance in other markets where it outsold Tesla in 2023. The company established a North American subsidiary in Los Angeles in 2011 but has only sold around 700 vehicles through this division, highlighting a significant gap in its market penetration [7a21f017].
The absence of BYD vehicles in the U.S. market can be attributed to various political and regulatory factors that complicate its entry. Recent tariffs on Chinese goods, announced in May 2024, pose additional challenges, with potential increases to 100% expected in August 2024. These tariffs could significantly impact BYD's pricing strategy and overall competitiveness in the American market [7a21f017].
In contrast, BYD has been actively expanding its global footprint, including a new showroom in Singapore, which showcases its range of high-performance electric vehicles. The showroom features models like the DOLPHIN small hatchback, ATTO 3 compact SUV, and e6 5-seater MPV, emphasizing BYD's commitment to sustainable mobility [13519c73]. The BYD Dolphin, in particular, has gained attention for its suitability as a city car, built on the e-platform 3.0 and recognized for its safety and performance. However, despite its innovations and successes abroad, BYD has no current plans to sell cars in the U.S., leaving it a mythical brand in the American automotive landscape [e21b26b9].