- cross-posted to:
- technology@lemmy.world
- cross-posted to:
- technology@lemmy.world
KEY POINTS
New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.
BYD recorded 13,503 new registrations in July, up 225% annually.
Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand.
I will buy neither.
BYD is selling a lot because is subsidized heavily by the chinese government to disrupt european brands, and this despite having a 35% tariff on top for not disclosing this to the EU.
BYD is being sued for slave like conditions in Brazil.
You think they’ll do that in Brazil and not China?
https://www.bbc.com/news/articles/c3v5n7w55kpo
Everyone is like YAY BYD BAD TESLA, but buying a BYD is gonna be worse overall. If you want to buy something other than Tesla, don’t buy a fucking BYD. Find a non Chinese brand, there are plenty of them now.
BYD is hiding $44B in debt. Chinese EV industry is eating itself and is the next Evergrande. They are losing money on every sale.
This is how modern “competition” works in every industry. China is just following the standard model of taking losses in order to monopolize the market. Why do you think so many companies in the US (Uber being the most obvious one) are just taking losses for years and years?
I feel like people don’t understand modern economics and the complete lack of competition. So when our media says “China is bad. Look at them cheating!” people believe it.
China isn’t cheating or “going to crumble because of this” like all the YouTube click bait videos say. This is literally just how the global markets work.
Is it good? Fuck no. But it’s not unique to China at all. And their 5 year planned economic systems are much more prepared for a global collapse than ours are. At least in meeting the material needs of its citizens. The US has all but gutted any of its social safetynets for when this all goes to hell.
And companies like Uber, Amazon etc. are heavily disliked by a lot of people because of it. This tactic forces smaller companies into bankruptcy and is bad for the consumer in the long run.
So yeah, it is absolutely not good either if China props up their whole EV industry to establish a monopoly. I hope governments around the world are pushing back as much as possible to keep their local car manufacturers alive, their economies will profit from it.
Not supporting this doesn’t mean that you don’t understand modern economics, on the contrary I would argue.
I guess you didn’t read my last paragraph. My comment wasn’t about defending China. My comment was about critizing the “China bad” that comes from people that don’t understand the economics and just listen to the xenophobic media narratives.
All countries our guilty of these types of things. China is just winning at it and the west is pretending it’s not losing.
Every country subsidizes it’s major industries like that. Also, this is public knowledge. China isn’t secretly hiding their state ownership and subsidies.
Nobody subsidizes on the same scale as what China is doing. Nobody operates entire market sectors at a loss for strategic advantage. The reason why China is doing this is because they’re comfortably in the lead among world powers and can afford to lose a bit, and also: everything is a weapon in their eyes, and they’re determined to use their weapons on everyone else.
EDIT: Although I do admit the Oil Industry is pretty equally cutthroat, Saudis weaponize crude and Russia weaponizes Natural Gas.
And…BYD is hiding over $44B in debt. Chinese EV industry is not sustainable, even by China.
I’m hearing that I should buy one now before they put their prices up