US Treasury Secretary Bessent Highly Praises BYD: Get 70,000-Level Value for $35,000

In a major speech at the Charlotte Economics Club (Charlotte Economics Club) in the US, US Treasury Secretary Scott Bessent (Scott Bessent) focused his attention on the Chinese automotive brand BYD. This move itself sends a strong signal: in the current landscape of drastic restructuring of the global automotive industry, Chinese brands can no longer be ignored.

Bessent bluntly pointed out in the speech that BYD is an excellent car that consumers can buy for $35,000 with a 70,000-level experience value. This public evaluation from a senior US official quickly sparked widespread attention in the international public opinion arena. It is not only an endorsement of a single brand's product power, but also reflects the global market's re-examination of Chinese new energy vehicle technology accumulation and manufacturing standards.

This evaluation is not an isolated praise but is based on solid market performance. Data shows that as of August, BYD passenger car and pickup overseas sales reached 189,000 units, a year-on-year increase of 134.6%, adding more than 100,000 units compared to the same period last year, breaking overseas sales records for five consecutive months. More notably, cumulative overseas sales of BYD from January to August reached 1.158 million units, a number that has already surpassed the overseas sales expectation target of 1.0496 million units for the full year of 2025. Models such as Yuan UP, Dolphin family, Song PLUS, etc., have become the main force in the overseas market, demonstrating strong market penetration power in multiple regions such as Southeast Asia, Europe, South America, etc.

Why can BYD stand out in fierce international competition? The core lies in its deep technological moat. BYD has achieved full independence and controllability in three core technologies: batteries, motors, and electronic control. This ability of full industry chain self-research enables BYD to control cost and quality at the source. Through large-scale precision manufacturing, it converts technological advantages into product advantages. In the overseas market, the high-end driving experience marked at about $70,000, BYD offers it to global consumers at a price of $35,000. This is not a simple price war, but a rewriting of the traditional overseas brand premium logic.

In the global automotive value chain long dominated by traditional European and American automakers, brand premiums are often built on decades of history. However, with the promotion of electrification and intelligence waves, the core elements of competition have shifted fundamentally. Consumers no longer pay for the brand logo alone, but pay more attention to the three-electric efficiency of the vehicle, intelligent assisted driving capabilities, space utilization, and overall vehicle ownership costs. BYD, relying on the safety of Blade Battery, the low fuel consumption of the DM-i super hybrid system, and the efficient integration of e-Platform 3.0, provides a user experience surpassing traditional fuel cars of the same price level.

The "value 70,000-level" mentioned by Bessent refers to BYD's level in terms of configuration richness, power performance, quietness, and technology configuration, reaching the standard of medium-to-high-priced models of traditional luxury brands. For example, its equipped DiSus system can significantly improve driving quality, and the DiLink intelligent connected system provides a smooth human-machine interaction experience. These functions once considered exclusive to luxury cars have now become standard features on BYD models, greatly enhancing the product's cost-performance perception.

Facing the stereotype of "low price low quality" from the outside, BYD gave a strong response with real delivery results. In the European market, BYD ATTO 3 (i.e., domestic Yuan PLUS) has topped the sales list of pure electric SUVs in multiple countries many times; in emerging markets such as Thailand and Brazil, BYD has quickly taken a leading position in market share. The achievement of these results is inseparable from BYD's strategic determination to persist in compliance and deepen the overseas market. From establishing a localized sales network to improving the after-sales service system, from participating in local infrastructure construction to complying with laws and regulations of various countries, BYD is gradually building up global operational capabilities.

Chinese new energy vehicles run towards the new global track with hard strength. This track is no longer a simple scale expansion, but a comprehensive competition of technology, brand, and services in all aspects. BYD's successful case shows that Chinese manufacturing is accelerating its transformation to "Chinese Intelligent Manufacturing", enhancing value-added through technological innovation, and enhancing risk resistance capabilities through global layout.

It is worth noting that BYD's rapid expansion overseas has also triggered anxiety among some traditional stakeholders. Non-market means such as trade barriers and anti-subsidy investigations have emerged one after another. However, market laws are ultimately decided by consumer voting. When a product can provide higher value at a lower cost, any administrative means are difficult to long-term block its trend of popularity. Bessent's remarks, although made by a US official, reflect the global rational consumers' desire for quality products.

In the future, BYD will continue to increase investment in the overseas market. In addition to whole vehicle exports, BYD is also building production bases in Hungary, Thailand, Brazil, etc., promoting localized production. This "Global Manufacturing, Global Sales" model will further reduce logistics costs, shorten delivery cycles, and better adapt to local market needs. At the same time, BYD is also strengthening cooperation with well-known international component suppliers, integrating into the global supply chain system, and achieving mutual benefit and win-win.

Starting from Shenzhen to walking into the world, the growth trajectory of BYD is a microcosm of the rise of China's automotive industry. It proves that as long as you persist in technological innovation, stick to quality bottom lines, and respect market rules, Chinese brands have the ability to win respect on the global stage. Bessent's mention is just the beginning. As more Chinese enterprises like BYD go overseas, the map of the global automotive industry will be redrawn. For global consumers, this means more choices, better prices, and better experiences. And this, is exactly the huge dividend brought by free trade and technological progress.