BYD quarterly sales beat Tesla for first time

Re:BYD quarterly sales beat Tesla for first time by kelnos on Wednesday October 30, 2024 @04:00PM (#41999551)

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.

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Re:BYD quarterly sales beat Tesla for first time by hangonhn on Wednesday October 30, 2024 @04:09PM (#41999648)

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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Re:BYD quarterly sales beat Tesla for first time by hmm37 on Wednesday October 30, 2024 @04:29PM (#41999880)

Which countries weren't offering tax rebates?

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Re:BYD quarterly sales beat Tesla for first time by fspeech on Wednesday October 30, 2024 @06:09PM (#42001010)

Tesla gets the same rebate in China.

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