Archive link: https://archive.is/4l7lh
The entire EU supply chain is subsidized.
Let’s look at what the EU found after investigating two of China’s largest EV companies: BYD and Geely
Their investigators turned up subsidies everywhere they looked. Lithium processers and battery makers were told by the state to sell to EV companies below market rates, they said,
Important to note here that BYD is the leading battery maker in the world. They’re also a leading lithium processor, in fact setting up lithium processing plants as far away as Chile. BYD is notorious for vertically integrating across their entire supply chain, so at least for BYD this claim makes zero sense. Berkshire Hathaway owns 9.8% of BYD.
while the car companies were exempt from battery consumption taxes.
This refers to the 4% tax on batteries instituted in 2015. Except… “But cleaner batteries including mercury-free, nickel-hydrogen, lithium and solar cell varieties will be exempted and taxation on lead storage batteries will be postponed till Jan 1, 2016.” Is the EU perhaps referring to the lead-acid batteries that feature in BYD and Geely’s hybrid products? As far as I know those should be taxed, but maybe I’m wrong and that was in fact a tax subsidy. Either way, lithium batteries are exempt from this tax.
The firms issued green bonds that government-run financial institutions were ordered to buy,
Buying corporate bonds really is subsidization and not something you’d expect to see in free market economies.
https://www.nbim.no/en/the-fund/investments/#/2023/investments/fixed-income
Wait hold on…
and were granted concessional land, income tax breaks and cheap refinancing options mandated by the People’s Bank of China, the central bank.
Dirty, dirty subsidies!
https://goodjobsfirst.org/nevada-woos-tesla-plant-tax-deal-economic-benefits-prompt-debate/
https://www.seattletimes.com/business/tesla-gets-330m-tax-deal-for-nevada-expansion-truck-plant/
Admittedly, now I’m a little confused.
jesus christ even thid rag has put paywalls up
Why is Europe suddenly pretending that subsidizing critical industries is a Chinese invention?
