This is BYD selling cars for kess than the billionaires you care about want to.
Nothing more.
Comment on BYD Reveals the ‘World’s Longest-Range EV’ as American Auto Industry Struggles to Keep Pace
CosmoNova@lemmy.world 5 hours agoAre you ignoring the whole subsidies thing on purpose? This is not BYD attacking Tesla. This is the Chinese government attacking western industries.
Ensign_Crab@lemmy.world 4 hours ago
BoJackHorseman@lemmy.today 4 hours ago
If the Chinese government is losing money on each car they export, soon China will be bankrupt. It only makes sense to buy more China cars at cheap rates and bankrupt their country.
Also, there is no proof of subsidy, it’s just made up Western cope.
SaveTheTuaHawk@lemmy.ca 1 hour ago
The US government has been propping up Detroit for over 20 years with over $100B in subsidies and tax relief, plus every state government grafts to get a new assembly plant.
BMW is not in South Carolina for the quality of workers.
SaveTheTuaHawk@lemmy.ca 1 hour ago
USA subsidized Detroit $80B since 2008, and that’s ignoring state graft for building assembly plants. What the fuck did they do with that money, attack Eastern industries?
daychilde@lemmy.world 20 minutes ago
Well, it was $79.7B to be exact. And what the US government did with that was not cut checks, but rather, purchased stock in the companies.
When it sold the stock it bought from manufacturers, it sold for around $70B. When they sold the approximately $2.4B invested into Ally (an auto financing firm), it sold for $17.2B.
So the money spent in 2008 actually made a profit. It was not distributed to the manufacturers or finance companies at all. Just used to shore up their value to prevent them from going out of business – and more importantly, probably, make sure investors didn’t lose money, or at least not too much.