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U.S. and European politicians have raised alarms that their domestic auto industries could be destroyed by a wave of cheap Chinese electric vehicles. The goal: to rake in hefty profit margins the automaker can’t get in China amid fierce competition. In some foreign showrooms, BYD charges more than double — sometimes nearly triple — the price it gets for three key models in China, according to a Reuters review of the automaker’s pricing in five of its biggest export markets.

BYD's EV Exports: Take the BYD Atto 3, a compact electric crossover. In China, the midrange version sells for USD 19,283. In Germany, the little SUV is priced at USD 42,789 - a price that's still competitive with comparable electric vehicles in that market.

EV demand, while slowing near-term in the U.S. is projected to expand long-term. China is in a position to go global with EVs.

The EV revolution is a tempting proposition for entrepreneurs. But the business is not for the faint of heart. Successes tend to have a few common traits.

The uncertainty over Tesla's plans, and delays to EV projects at rival automakers, present would-be EV buyers and Biden administration environmental policy makers with tough choices. Get more Automobile News and Business News on Zee Business.