China gave BYD $3.7 billion to ‘win’ the EV race. China has been heavily subsidizing its green tech sectors, but BYD is a favorite child of the bunch. China gave direct payments to its listed companies – putting its aid at as much as nine times higher than countries such as Germany and the US offer.
by mafco
4 comments
?? TSLA in 2015 had funding of $4.9bn in subsidies.
9x higher than other countries??
How are you calculating these numbers OP?
Edit: besides. If the Chinese government want to help produce a car that is affordable to lower income citizens, i dont see a problem.
Germany handed out 5.9€ billion to the domestic car industry in 2020 alone. So this really doesn‘t sound out of the ordinary to me
Bro we literally bailed all our domestic companies out around 2008.
Who cares ,?
Everg country should be subsidizing the ev industry to save the environment. We should also invest heavily into public transit and advocate for remote work, so that people don’t have to buy a car to commute in the first place.
3.7 bill is nothing compared to how much we subsidize the oil industry.