Let's hear from China's biggest car manufacturer.

Good morning.

This is the Marketplace Morning Report, and we're live from the BBC World Service.

I'm Leanna Byrne. Thanks for tuning in.

So BYD is China's biggest carmaker, and it's been slashing prices at home to dominate the market.

Now it's going global, and the big established brands are getting nervous.

Stella Lee, the executive vice president behind BYD's global push, has been speaking to the BBC's

Theo Leggett. Let's hear from him now. Hi, Theo. Hello. Theo, BYD has grown rapidly in the past

couple of years. I mean, what's behind that? Well, Leanna, BYD is one of the

biggest companies most people have probably never heard of. It's a Chinese business and it started

in the mid-90s making batteries for mobile phones. But it's diversified heavily. It's been making

cars for a number of years, but only relatively recently expanded onto international markets. Last year, it sold more

electric cars worldwide than Tesla, and it has existing established manufacturers in Europe and

elsewhere, very worried. And that's partly because BYD is able to sell cars relatively cheaply. It has

a lower cost base than established manufacturers.

And last year, the European Union reacted to this. The US reacted to it, actually.

The United States imposed very heavy tariffs on all imports of Chinese vehicles, which basically

made it pointless to sell imported Chinese vehicles in the United States. The European Union

was a bit more subtle about what it did.

It slapped lower tariffs on Chinese electric vehicles, but they were still pretty substantial.

And they argued that the reason they had to do this was because Chinese manufacturers benefited

from unfair subsidies from the Chinese government, and therefore it was necessary to create

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