4 ms·

Wow, really good that Tesla has received no government subsidies then. :) https://www.ft.com/content/8179bd8a-4d96-43a9-a8f9-074f9a275bd8 https://www.ft.com/co

by jaggs 2y ago

Wow, really good that Tesla has received no government subsidies then. :) https://www.ft.com/content/8179bd8a-4d96-43a9-a8f9-074f9a275bd8 https://www.ft.com/content/8179bd8a-4d96-43a9-a8f9-074f9a275...

mtmail 2y ago
Is Tesla mentioned in the FT.com article? I can't access it. On https://apnews.com/article/microchip-electric-vehicles-battery-semiconductor-states-subsidies-3ac5f11cdbf020e996f6bc8f92bd2bfd https://apnews.com/article/microchip-electric-vehicles-batte... Tesla is only mentioned by one state loosing a project. "Many of the companies drawing the biggest subsidy offers — such as Intel, Hyundai, Panasonic, Micron, Toyota, Ford and General Motors — are profitable and operate around the globe. Some lesser-known names in the nascent EV field are getting big offers too, such as Rivian, Volkswagen-backed Scout Motors and Vietnamese automaker VinFast."
- jaggs 2y ago
  Over $2bn in state and federal subsidies - https://archive.is/g5Gnb https://archive.is/g5Gnb https://imgur.com/a/XYSSnTQ https://imgur.com/a/XYSSnTQ
  - kelnos 2y ago
    Do we have any insight into how much the Chinese government supports BYD? $2B seems like a pretty small number, to be honest. I would expect the number to be at least an order of magnitude (or two!) higher for BYD. At any rate, $2B is a drop in Tesla's bucket; their quarterly revenue is around $25B now. That $2B may have been given at a critical time in Tesla's development and growth, but today it would be 2% of their yearly revenue.
    - hangonhn 2y ago
      From: https://asia.nikkei.com/Spotlight/Datawatch/China-s-hidden-subsidies-fuel-export-onslaught https://asia.nikkei.com/Spotlight/Datawatch/China-s-hidden-s... "BYD received a total of 37.1 billion yuan in tax rebates over the five-year period, nearly four times the 9.3 billion yuan it received in subsidies. Additionally, BYD has secured long-term bank loans at interest rates between 2.05% and 2.98%, lower than the one-year prime lending rate of 3.35%, according to the company filings. " So it sounds like it received 9.3 billion yuan or 1.3 billion USD but it also receives 4x as much in tax rebates.
      - hmm37 2y ago
        Which countries weren't offering tax rebates?
      - fspeech 2y ago
        Tesla gets the same rebate in China.
CharlieDigital 2y ago
I was going to say that it's a bit disingenuous to point at China's subsidies for EVs and EV manufacturers and not look in the mirror. US government has handed out tons of low/no interest loans, tax incentives, and tax credits to spur development and deployment of EVs and related technologies like charger infrastructure. Just this year, there was a $4500 tax credit towards leasing a number of vehicles. I leased a Prius Prime (one of the vehicles eligible) and basically got $4500 off the sticker. Bought out the lease and purchased the car for $4500 off.

by jaggs 2y ago

mtmail 2y ago

Is Tesla mentioned in the FT.com article? I can't access it. On https://apnews.com/article/microchip-electric-vehicles-battery-semiconductor-states-subsidies-3ac5f11cdbf020e996f6bc8f92bd2bfd https://apnews.com/article/microchip-electric-vehicles-batte... Tesla is only mentioned by one state loosing a project. "Many of the companies drawing the biggest subsidy offers — such as Intel, Hyundai, Panasonic, Micron, Toyota, Ford and General Motors — are profitable and operate around the globe. Some lesser-known names in the nascent EV field are getting big offers too, such as Rivian, Volkswagen-backed Scout Motors and Vietnamese automaker VinFast."

jaggs 2y ago
Over $2bn in state and federal subsidies - https://archive.is/g5Gnb https://archive.is/g5Gnb https://imgur.com/a/XYSSnTQ https://imgur.com/a/XYSSnTQ
- kelnos 2y ago
  Do we have any insight into how much the Chinese government supports BYD? $2B seems like a pretty small number, to be honest. I would expect the number to be at least an order of magnitude (or two!) higher for BYD. At any rate, $2B is a drop in Tesla's bucket; their quarterly revenue is around $25B now. That $2B may have been given at a critical time in Tesla's development and growth, but today it would be 2% of their yearly revenue.
  - hangonhn 2y ago
    From: https://asia.nikkei.com/Spotlight/Datawatch/China-s-hidden-subsidies-fuel-export-onslaught https://asia.nikkei.com/Spotlight/Datawatch/China-s-hidden-s... "BYD received a total of 37.1 billion yuan in tax rebates over the five-year period, nearly four times the 9.3 billion yuan it received in subsidies. Additionally, BYD has secured long-term bank loans at interest rates between 2.05% and 2.98%, lower than the one-year prime lending rate of 3.35%, according to the company filings. " So it sounds like it received 9.3 billion yuan or 1.3 billion USD but it also receives 4x as much in tax rebates.
    - hmm37 2y ago
      Which countries weren't offering tax rebates?
    - fspeech 2y ago
      Tesla gets the same rebate in China.

CharlieDigital 2y ago

I was going to say that it's a bit disingenuous to point at China's subsidies for EVs and EV manufacturers and not look in the mirror. US government has handed out tons of low/no interest loans, tax incentives, and tax credits to spur development and deployment of EVs and related technologies like charger infrastructure. Just this year, there was a $4500 tax credit towards leasing a number of vehicles. I leased a Prius Prime (one of the vehicles eligible) and basically got $4500 off the sticker. Bought out the lease and purchased the car for $4500 off.