alt Hacker NewsRather, China is dumping EVs at a national level. EVs don't generate profits, and entering this market now would only result in huge losses. so under normal business judgment, companies wouldn't enter the EV car market. They can only be produced when subsidies and tariffs are guaranteed to protect them.
Nah. Dumping means unprofitably sold with subsidies making up the difference.
China cancelled subsidies to BYD this year, and last year, those subsidies were 1/3 of BYD profits. Subsidies helped get them off the ground but they were unit-profitable by the time they got to exporting.
Xiaomi never had subsidies at all, their cars were profitable from launch, with 6 month waitlists to buy. Their export plan is to start with Germany first because they're cocky as hell and the cars are really nice.