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this post was submitted on 10 May 2024
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Chinese EV companies are rather profitable, with BYD making billions of yuan profit last year. On the other hand, Rivian is losing, what was it, just about $40,000 per car?
And that profit is coming straight from the government as there is no way they're making billions in profit by selling brand new cars for $10k in 2024. There is zero margin there.
They have cars from $10k to $200+k. BYD includes a bunch of brands, including the Yangwang brand which builds the $150k U8 and the $230k U9. Not to mention their busses which are used around the world.
Cool but I don't see how that's relevant to the discussion of them trying to sell $10k EVs in the US.
Nobody here is arguing to buy a $230,000 Chinese EV.
They wouldn’t only sell $10k vehicles, and they wouldn’t only target the bottom of the market. If their actions in other countries are to be repeated, they wouldn’t sell $10k vehicles in the US, because the market isn’t nearly as competitive. It’s very likely, given the prices they’re charging elsewhere, that the lowest prices we’d see for a BYD would be $20k.
BYD currently makes ~$1,500 per vehicle, compared to Ford at $3,000, and Tesla at $5,300/vehicle. They’re lower margin, certainly, but they’re not just dumping cars at bargain bin prices.
US manufacturers received 4x the subsidy that Chinese manufacturers did last year. If anyone is trying to artificially manipulate the market, it’s the place that’s blockading their competitors vehicles while pumping dozens of billions of dollars into them every year.
You would be the person complaining about Japanese cars in the 80s, to be honest, and if we listened to them, we’d all still be getting 12mpg driving V6 and V8 2 ton monstrosities that break down every 5000 miles. Many of us still do, the F-150 is the most popular car in the US after all, but the rest of us at least have the option to get high mileage, high reliability vehicles.