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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.