this post was submitted on 17 Sep 2024
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[Dormant] Electric Vehicles
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Because all those foreign manufacturers are already selling their vehicles here and for comparable prices to the tiny share of remaining US companies that still exist (GM, Ford, Tesla). If you think these high prices are just US companies being greedy, then how do you explain VW, Hyundai, Kia, Toyota, etc selling their cars for the same price?
In reality it's all about the battery manufacture. It's the most expensive component and BYD is vertically integrated (they even mine their own lithium, they are a huge battery manufacturer in their own right and sell cells to other companies to make cars) and has done extensive research on making it cheap with their BYD blade. Nobody can afford to compete with them, but it's not because they're getting subsidies. It's because they're a company that's built completely different when you compare it to buying batteries from third parties.
The cry foul that people make is no company would've survived in building that sort of initial vertical integration without the government propping them up. That's right, but I don't see the US trying to develop an industry that even compares.
This is obviously false as Tesla has their own battery factories and still can't sell that cheap, Korea has Samsung and LG manufacturing batteries on a comparable scale and Hyundai/Kia can't sell that cheap, Japan has (partnered with Tesla) Panasonic and can't sell that cheap. China is heavily subsidizing these vehicles. You can't sell an equivalent car for less than half the competition, tens of thousands of dollars cheaper, just because you happen to be vertically integrated in manufacturing a big part of the car.