BYD Exec Rules Out U.S. Expansion Because Market Lacks 'Stability' -- IBD

By Paolo Confino The U.S. and China's rocky relationship forced BYD to write off a stateside expansion, according to BYD executive vice president Stella Li. Geopolitics is the top issue limiting BYD's global development because it creates too much uncertainty to make reliable investment decisions, Li said at the Milken Institute Asia Summit in Singapore. "When we do business, we want to do something and have certainty and visibility then we can control and then we can invest. But with geopolitics, you never understand what's the angle and what they are doing," Li said, according to Reuters. The U.S. has kept its market closed to Chinese EV makers like BYD over national security concerns. Lawmakers fear that allowing Chinese EVs to collect data on U.S. roads and drivers would amount to widespread espionage. A summit between President Donald Trump and Chinese President Xi Jinping last month did little to ease the existing tensions between the two countries. Stock Market Today: Dow Slides On Trump Comments; Oil Surges Despite being locked out of the largest economy in the world, BYD still.