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0 pointsmtmail1y ago0 comments

Is Tesla mentioned in the FT.com article? I can't access it.

On 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."

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jaggs1y ago

Over $2bn in state and federal subsidies - https://archive.is/g5Gnb

https://imgur.com/a/XYSSnTQ

kelnos1y 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.

hangonhn1y ago

From: 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.

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