By Simone McCarthy, Martha Zhou, CNN
Beijing (CNN) — The world’s largest electric vehicle maker is locked out of its biggest potential overseas market.
But BYD – the Chinese EV behemoth – says barriers restricting it and other Chinese carmakers from American consumers won’t stop it from maintaining that top spot in an industry transforming how people drive.
“Without the US market, BYD still will be the leading position,” Stella Li, the company’s executive vice president, told CNN during an interview on the sidelines of the Beijing auto show earlier this week.
Washington has effectively barred Chinese carmakers from importing to the US market, citing concerns around national security and the need to protect American carmakers from rivals that have benefited from the Chinese government’s long-term support for its EV sector.
Those US restrictions are expected to be in the spotlight next month when Chinese leader Xi Jinping hosts President Donald Trump in Beijing.
BYD’s Li said she hopes the highly anticipated summit could lead to change. “You start a dialogue, then you see the business opportunity, then you should open up, because this is win-win,” she said.
Even still, Li added that the vehicle maker has “no future plan” as yet for its cars to enter the US market.
For now, the company is expanding seemingly everywhere else. It’s understood to have set its sights on selling at least 1.5 million vehicles overseas this year, about half a million more than last year.
That scale-up is imperative for the automaker, which – despite taking the superlative No.1-EV-maker title from Tesla last year – is seeing its profits shrink amid a knock-down, drag-out fight with rivals for market share within China.
How the company drives forward its overseas growth could have outsize international impact. Automakers around the globe and their employees fear being overwhelmed by BYD’s prolific industrial capacity and competitive pricing. Consumer access to more affordable EVs could help accelerate the worldwide transition from fossil fuels – and offer welcome alternatives amid a global oil shock due to the Iran war.
Already, Li sees a boon for BYD in the current oil crisis that’s driven up prices at the gas pump.
“It’s like a wake-up call for the people who never touch EV,” she said, adding BYD has already seen a surge of demand in markets such as Australia and Indonesia.
Keeping the crown
That interest comes at a critical time for BYD.
A battery manufacturer turned carmaker in the early 2000s, the company established an early lead over domestic rivals by cracking the code on making EV batteries cheaply.
BYD has consolidated its advantage by automating production and controlling its supply chain, including software and hardware, with meticulous detail.
The publicly traded company boasts a commanding lead of nearly 20% of China’s EV and hybrid market, industry data shows. And its global rise has launched it to a level of world renown never before achieved by a Chinese automaker.
But rougher times are here.
In 2025, the company recorded its first annual profit drop in four years down by 19%, and its net profit more than halved year on year in the first quarter of 2026.
Demand for EVs in China is slowing after the government trimmed consumer subsidies and perks, and there’s no end in sight to a brutal price war as a crowded field of EV rivals jostle to outperform and undercut one another.
“There’s still no clear-cut winner. BYD, right? They were flying up until 2024 – and then 2025, so far this year, they’ve had a lot of pressure,” said industry analyst Lei Xing, pointing to the intense one-upmanship in the market when it comes to rolling out products and features.
BYD stumbled from its spot as China’s largest automaker overall at