BYD's Half-Year Test: Record Exports Face US Tariff Storm

BYD released its half-year financial results on July 25, 2025, posting a record 1.5 million vehicle exports in the first six months, a 40% year-over-year surge. Yet the company's Shenzhen-listed shares have dropped 23% from their 52-week high, as a brutal domestic price war and escalating US tariff threats weigh on investor sentiment.

The Shenzhen-based automaker's export boom has been fueled by aggressive pricing and expanding demand in emerging markets, including Brazil, Southeast Asia, and the Middle East. However, the US market remains largely closed to BYD due to the 100% tariff on Chinese-made EVs imposed by the Biden administration in May 2024. These tariffs, designed to protect American automakers like Tesla and Ford, have effectively blocked BYD's direct sales to US consumers.

**Domestic Price War Intensifies