KEY POINTS

New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.

BYD recorded 13,503 new registrations in July, up 225% annually.

Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand.

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[–] 3 points 1 year ago (1 child)

Every country subsidizes it's major industries like that. Also, this is public knowledge. China isn't secretly hiding their state ownership and subsidies.

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  • [–] 3 points 1 year ago*

    Nobody subsidizes on the same scale as what China is doing. Nobody operates entire market sectors at a loss for strategic advantage. The reason why China is doing this is because they're comfortably in the lead among world powers and can afford to lose a bit, and also: everything is a weapon in their eyes, and they're determined to use their weapons on everyone else.

    EDIT: Although I do admit the Oil Industry is pretty equally cutthroat, Saudis weaponize crude and Russia weaponizes Natural Gas.

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