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Re: The EV thread

Reply #150 –
I saw some random youtube video on BYD and how they are heavily backed by the chinese government and its not sustainable and could potentially go bust if one of a couple things happen.
It was kinda just on in the background, but it seemed theoroughly researched and plenty of facts and figures based on annual figures etc etc.

Was a bit worrying as if any of it came to fruition, it would cause complete chaos to the car market.

Re: The EV thread

Reply #151 –
Quote from: kruddler – on
I saw some random youtube video on BYD and how they are heavily backed by the chinese government and its not sustainable and could potentially go bust if one of a couple things happen.
It was kinda just on in the background, but it seemed theoroughly researched and plenty of facts and figures based on annual figures etc etc.

Was a bit worrying as if any of it came to fruition, it would cause complete chaos to the car market.
BYD get looked after by the Chinese Government with subsidies and cheap state bank loans because they are seen as a national success story, they do have some debt but its not extreme.
Founder led listed business on the HK exchange and the Chairman who runs it is a keen CCP member with an interest in China's strategic position and hasnt had to have his arm twisted to align himself with Xi's directives.
Their sales figures have dropped at home but with Xi helping him out Id expect that to be mitigated and they will stay on top of the  EV heap while the brand stay aligned with the Government..