According to BYD, there are no plans to sell these very affordable EVs in the US.

The company's CEO said at a conference in May that it has no plans to sell EVs in the U.S. BYD EVs aren't being sold in the U.S. now largely because of 27.5% tariffs on the sale price of Chinese vehicles when they arrive at ports.

BYD's results confirm a key trend—EVs are still growing, but they're growing at a slower rate than in the past due to slowing demand and rising competition, which has weighed on investor sentiment. BYD shares fell 0.6% in overseas trading leaving them down about 6% year to date.

Slashing prices A few days later, BYD also cut the cost of the newest version of its cheapest car, the Seagull, by 5%. It now has a starting price under $10,000. Although Tesla also cut prices on some models in China last year, the Model 3 and Model Y still sell for more than double BYD's prices.