I don't think so. Most government purchase subsidies are or were phased out in China in 2022.
BYD received massive grants during it's scale-up period, mostly in the form of capital expenditures being fully subsidized or land grants. Very rarely were subsidies/grants awarded for operational expenses though it did happen.
Given the fiscal situation in China it's unlikely BYD will receive as much support in the future but you never know. Green transition is still a massively important political goal in China.
Worth mentioning the scale of support it received is not dissimilar to Tesla which also benefited from very healthy subsidies and tax arrangements with the US jurisdictions it setup in. In fact if you include their $1.3B deal with Nevada (over 20 years though) I think you will find Tesla is in the lead in government money.
BYD is for sure a legitimately remarkable company and to some degree I’m thankful for the competition. But I am highly, highly skeptical (and you should be too) of pretty much any number coming out of China. You should be especially skeptical of a company that can make such valuable contributions to the CCP’s hybrid warfare doctrine.
BYD can degrade the US manufacturing base; degrade consumer sentiment (as seen above); put millions of mobile sensors on US/EU roads; etc. It is absolute naivety to think that’s a company that will ever need to truly stand on its own two feet.
BYD received massive grants during it's scale-up period, mostly in the form of capital expenditures being fully subsidized or land grants. Very rarely were subsidies/grants awarded for operational expenses though it did happen.
Given the fiscal situation in China it's unlikely BYD will receive as much support in the future but you never know. Green transition is still a massively important political goal in China.
Worth mentioning the scale of support it received is not dissimilar to Tesla which also benefited from very healthy subsidies and tax arrangements with the US jurisdictions it setup in. In fact if you include their $1.3B deal with Nevada (over 20 years though) I think you will find Tesla is in the lead in government money.
Disclaimer: I'm both a BYD and TSLA shareholder