"We're not planning on coming to the US," BYD Americas CEO Stella Li told Yahoo Finance. "It's an interesting market, but it's very complicated if you're talking about EVs."

BYD launched a price war on ICE vehicles last month with the new Qin Plus EV and PHEV models. Starting at $15,200 (109,800 yuan), the new EV officially opened a “new era of electricity is cheaper than oil.” The DM-i (PHEV) version is even cheaper, starting at around $11,000 (79,800 yuan).

In the battle between Tesla and BYD, both companies have proven themselves as leaders in the electric vehicle industry. While Tesla excels in innovation, design, and global reach, BYD's strengths lie in its diverse product lineup, battery technology, and market dominance in China.