China's BYD is the world's biggest electric car maker — but it's not coming to America anytime soon.

It really gets interesting: the Han Glory Edition starts at just RMB 169,800 (about $23,600) while the Tang Glory Edition kicks off at RMB 179,800 ($24,950).

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.

BYD was also the best-selling car brand in China in 2023, overtaking Volkswagen which held the title since the liberalisation of the Chinese automotive industry. The company also expanded sales of passenger cars into overseas markets since 2021, mainly in Europe, Southeast Asia, Oceania and South America.