Developing an EV industry required big bucks and big risk. China & US governments provided monies for the development of the EV industry & rocket industries & charging networks for EVs.
And Tesla has received monies from both the US & China governments.
But that subsidy has ended but Tesla benefited along with China manufacturers.
https://www.reuters.com/business/autos-transportation/tesla-ev-rivals-absorb-costs-after-china-pulls-plug-subsidy-2023-01-05/
US government via Bipartisan Infrastructure Law & Inflation Reduction Act subsidizes made-in-US EV & battery manufacturers & charging infrastructure.
Rather than sending a government official to whine, China has opened a WTO dispute.
https://www.reuters.com/world/china-opens-dispute-against-us-wto-over-discriminatory-subsidies-2024-03-26/
China has initiated dispute settlement proceedings against the United States at the World Trade Organization to safeguard its interests in the electric vehicle industry, the Chinese mission said on Tuesday and the WTO confirmed.
China said it was contesting “discriminatory subsidies” under the U.S. Inflation Reduction Act (IRA) that it said resulted in the exclusion of goods from China and other WTO countries.
“Under the disguise of responding to climate change, reducing carbon emission and protecting environment, (these subsidies) are in fact contingent upon the purchase and use of goods from the United States, or imported from certain particular regions,” the Chinese mission said.
So both nations are subsidizing domestic EV & related industries.
BYD is surging[1]. WHY? China governments subsidies? Low cost vertically integrated manufacturing from battery to EV? BYD products are equal or perhaps even better than US EV products?
[1]https://www.cnn.com/2024/03/26/business/byd-profit-soar-after-beats-tesla/index.html
BYD’s profit soared 80% in the year the Chinese EV giant overtook Tesla
https://www.reuters.com/business/autos-transportation/chinas-byd-h1-profit-triples-deliveries-break-record-2023-08-28/
China’s BYD H1 profit triples as deliveries break record