US Treasury Secretary Scott Bessent singled out BYD during remarks at the Charlotte Economics Club this week, calling the Chinese EV maker "the best $70,000 car that $35,000 can buy." It was not the first time he used the line: in an April interview with Semafor, he called BYD "the best $75,000 car that $35,000 can buy."

Bessent used the praise to underscore a broader argument about Chinese industrial policy, estimating Beijing's subsidies at roughly 4% of GDP. The speech followed a G20 finance ministers meeting in nearby Asheville that ended without a joint communique, with Bessent blaming China for resisting language on "non-market" practices.

BYD's global momentum continues regardless. The company exported 189,466 vehicles in August, up 134.4% year-on-year and its fifth straight monthly export record. Cumulative overseas sales through August reached 1.16 million units, already surpassing all of 2025.

Analysts note BYD's cost advantage stems mainly from vertical integration — it produces about 80% of core components in-house — rather than subsidies alone.