As the world’s leading manufacturer of plug-in electric vehicles, BYD has seen rapid growth in recent years. However, one question remains: when will the Chinese company finally enter the United States market for consumer electric cars?
Currently, BYD offers only commercial vehicles such as buses and trucks in the US, which are assembled in California. Despite this, the company has been exploring the possibility of entering the consumer electric car market for over a decade, since the debut of its first BYD E6 model. Despite several pilot presentations, BYD has yet to make a formal launch of its consumer electric cars in the US.
Recent reports suggest that BYD may have had plans to announce the launch of its consumer electric cars at the CES tech show in Las Vegas, but ultimately did not follow through. Unofficial sources indicate that the company conducted a study in 2022 on how to establish a distribution network in the US, but no official statement has been made by the company.
BYD sold over 1.85 million electric cars in the past year, including 900,000 all-electric vehicles, nearly tripling its sales from the previous year. The company is planning to expand its sales to new countries, including several in Europe, but is hesitant to enter the US market.
This is partly due to the strained relationship between China and the US and the lack of a federal tax credit for imported BYD electric cars. However, BYD is expected to continue growing and potentially reach a production level of 10 million units per year by the early 2030s.
Other Chinese manufacturers are also focusing on the European market before entering the US.