Yes, BYD is tightly intertwined with the CCP and gets a lot of subsidies, grants, favorable loans, etc.

PRC just underpricing competitors is frankly retarded cope at this point, the reality is PRC industrial policy also simply permanently drives structural costs down. They're not spending billions in pork barrel jobs program that need reoccurring injections that rarely prioritize manufacturing efficiency. Pretty much every industry where PRC took the value-engineer hammer (initially with subsidies) has stayed cheap (eventually without subsidies). Like it's been 20 years, PRC competitiveness hallowed out a lot of western industrial base already, but their goods remains cheap. They're not subsidizing in perpetuity, their manufacturing is just stupid efficient and producers are willing to live on less margins because before even competing with western incumbents, they're competing with other Chinese competitors foremost and it just so happens survivors of PRC involution is by process of elimination, the most competitive.