This Warren Buffett-backed company has (TSLA) in its crosshairs.
Chinese electric vehicle maker BYD (BYD) is seeking to expanding the U.S. market, the company's CEO told CNBC. The automotive company's California production facility will be completed next month. The facility will have 700 employees and will be able to produce 1,500 heavy-duty vehicles each year.
In 2016, BYD sold more than 100,000 vehicles compared with Tesla's 76,000 units.
Watch More with TheStreet:
- Leaders Are Made Not Born: Former Hewlett-Packard CEO Carly Fiorina
- Quiz: Where Were Your Favorite Netflix Series Filmed?
- Jim Cramer Has Some Advice for Snap CEO Evan Spiegel
- Shark Tank Star Kevin O'Leary Just Revealed This One Way Entrepreneurs Are Getting Savvier
- Game of Numbers: Do You Have Any Idea How Big Game of Thrones Has Become?