China's BYD is the world's biggest electric car maker — but it's not coming to America anytime soon. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

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).

Impressive craftsmanship, confident on the road, yet marred by a few weak points that are hard to forgive – this sums up the BYD HAN. As a large chauffeur-driven car, this luxury saloon achieves excellence on many fronts, combining impeccable quality, luxurious interiors and exceptional driving performance.

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.