this post was submitted on 10 May 2024
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LMGTFY In August, before the United Auto Workers strike, the Biden administration announced $15.5 billion in funding and loans to help car manufacturers redesign their factories for electric vehicle production.
Where does that say anything about exports? The article is talking about US factories and this coincides with the federal government implementing stricter fuel standards on these same manufacturers. This money is to help them ease into developing brand new platforms after implementing stricter standards.
Furthermore, that $15B is a drop in the bucket for what China is subsidizing. That equates to about a single quarters worth of subsidies for a company like BYD in order to sell their cars for $10k-$15k out the door.
BYD doesn't sell their cars abroad for $10-$15k.