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This seems really low. If we could throw 3.4b at a new car company and get the awesome suspension tech and price points of the BYD cars then that’d be huge. If every country could do this domestically, even better!
What suspension tech does BYD have that others do not?
How much Tesla got in subsidies? :)
And this is for a good environmental cause.
The subsidies discussed in this report are mostly "purchase subsidies," which the Chinese government pays to all domestic EV manufacturers. The more cars a company sells, the more "purchase subsidies" it receives. BYD received 1.6 billion Euros in 2022, because it sold the most EVs. The second largest recipient was Tesla, which received 0.4 billion Euros from the Chinese government in purchase subsidies. If Tesla had sold more EVs in China, it would have received more subsidies.
This particular "purchase subsidy" program has ended, by the way. There are still other types of subsidies, such as waivers on license-plate fees (which can be massive in large Chinese cities) for EVs.
Just as a general comment, I find it slightly amusing that the narrative has shifted from "China doesn't care about the environment" to "China is heavily subsidizing renewable energy and EVs, and here's why that's a bad thing."