BYD is not interested in United States' EV market: Exec. VP

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BYD Auto (BYDDY, 1211.HK) recently showcased its new, all-electric supercar — the Yangwang U9 — which will cost more than $230,000. The Chinese automaker has recently begun to catch up, and even surpassed, EV giant Tesla (TSLA) as the world's biggest manufacturer of EVs. However, the company has gone on record as saying they have no plans to sell personal EVs within the US.

BYD Executive Vice President and CEO of BYD Americas Stella Li sits down with Yahoo Finance Anchor Akiko Fujita to discuss the global EV market, the company's lack of involvement in the US market, and BYD's performance among Chinese consumers.

Li shuts down any plans for expansion in the US: "It's an interesting market but it's very complicated if you're talking about EV, and then I think the US market is a little bit slowdown on electrification and there are a lot of confusing, also very complicated, so we're saying, 'No... we don't have plans to come to the US."

When asked if political complications play a role in that decision, Li responds: "Everything is complicated. Politics are complicated... and it's confusing for the consumer, and then they don't know which to choose."

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Editor's note: This article was written by Nicholas Jacobino