China Throwing Away Fields of Electric Cars

… lack of rustproofing a problem. And you thought battery life was a concern.

intercst

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Is that any different than the US government buying up surplus food and keeping it off the market to prop up prices?

Only new wrinkle is the Private Equity spin, where the “JCs” promote an unsustainable business model, sell a ton of stock on the hype, then abscond with the loot.

Why am I thinking he Chinese are going to gift a mountain of solar powered car chargers, and the cars to go with them, to various third world countries, as “aid”?

Steve

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To a man with just a hammer, everything looks like a nail. :wink:

Cheers!
Murph

China may begin throwing away a lot of things, including housing. I read recently that estimated population in China in 2100 is about a billion. That’s quite a lot lower than today.

World population growth is expected to nearly stop by 2100 | Pew Research Center.

That same guy in the video has also done a lot of reporting on China’s ghost cities which were built during China’s real estate investment craze and never occupied. There aren’t even any homeless people living in them.

intercst

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These guys are saying it could be a lot less than that. China is completely screwed demographically, and there is nothing they can do about it.

Excellent explainer video here. China’s one child policy continued far too long. On top that , urbanization makes having children expensive, so most Chinese don’t want more than one or two kids. China’s trend of declining population cannot be reversed and will soon be faced with a large aging population supported by a smaller and smaller number of workers.

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That’s illegal in China! Being homeless that is. :grin:

I’ve seen various videos about the ghost cities. Talk about bad debt!

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Yes, but if people were living in those homes, then they wouldn’t be homeless, would they?

Mike

I know there are a lot of Warren Buffett fans here so you might’ve already heard this. But in the 2020 Berkshire Hathaway annual meeting, Buffett talked about how there were something like 120 American car companies that existed in the early 1900s – but now, there are 3 as a result of many going out of business, M&A, etc. His point was it’s hard to pick winners in a crowded space. EVs, AI, the next big hyped thing - just be mindful of some old wisdom from a man who’s seen a lot.

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No. America prints forged money. China can’t print forged dollars so they print cars and residential complexes instead.

The Captain

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So much for an actual econ discussion on an econ board.

China’s government prints money like crazy, must faster than the US. China’s government debt is enormous, mostly in the form of loans from state-owned banks to local governments and state-owned enterprises. Which is to say money created out of thin air. The debt burden is so large it has already required government bailouts, and likely will require more.

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That may be so but while the US prints the world’s reserve currency China prints Monopoly money. People fail to recognize what an incredible advantage that gives America, What did Le Grand Charles call it. And America, like any other imperial power, is willing and ready to go to war and change regimes to keep it that way.

What are sanctions? American Imperial Power! What are the BRICKs about, getting out from under economic imperialism, modern day economic colonialism.

The Captain

This is not an anti American rant, it is an acknowledgment of reality.

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Anybody remember this from five years ago?

DB2

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That issue was covered in the video. I have seen reports of the same bike share schemes in other countries, with the same results, mountains of abandoned bikes. The Henry Ford Museum, in Dearborn, MI, had a rack of bikes from some bike share scheme installed a few yeas ago. The rental bikes vanished with the arrival of the plague. The concrete pad where they were is a conventional bike rack now.

Steve

Etc = creating a new company.

There are 3 main US auto companies today:
GM - formed by mostly M&A
Ford - formed long ago, some M&A over the years
Tesla - formed relatively recently, not much M&A

Some US auto companies have been M&A’ed to out of the USA.

Here’s a YouTube describing abandoned “new” EVs in China… Dated a year ago.
IIRC, I saw a similar story a few months before this one.

Ie. I don’t know if the op YouTube is “new” or “repeat” info.

I’m seeing a lot of “old” YouTube info, re-uploaded… With a recent /new upload date.
Which is, IMO, misleading.

The video said, IIRC, there were 18k cars. Which sounds like a lot, but

“BYD continued its astonishing growth in the EWV market, selling 119,603 fully electric vehicles in the month of May”

I did not check those numbers.
But, it suggests that 18k is 1% of total annual production?

Ok. Fine. Global EV Production: BYD Surpasses Tesla.

“BYD Auto has leaped past Tesla to become the new EV king, boosting its output by a massive 211% in 2022. Given this trajectory, the company will likely become the world’s first automaker to produce over 2 million EVs in a single year.”

1.8M EVs in 2022.
So, 18k is 1%.

In addition, the OP video makes it sound like many (most?) Of the abandoned vehicles had a single company logo? Implying that a single company had bought them, then gone out of business. The “abandoned” cars were therefore the “property” of that failed business and it’s creditors… Not a fault of BYD?

:face_with_monocle:
ralph owns some BYD.
And is able to “explain” how that video is perhaps "misinformation "?

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