How Much Has BYD Benefited from Chinese Government Subsidies?
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How Much Has BYD Benefited from Chinese Government Subsidies?
Between 2018 and 2022, BYD received approximately $3.7 billion in direct subsidies from the Chinese government to support its electric vehicle (EV) production.
In 2022 alone, BYD was granted around $2.2 billion, highlighting China’s strong push for new energy vehicles (NEVs).
In 2023, subsidies dropped significantly to around $309 million.
However, in 2024, subsidies climbed back up. 26% of BYD's net income came from government support, totaling about $1.434 billion.
These shifts likely reflect changes in China’s EV subsidy policy and BYD’s evolving strategy as it expands both domestically and globally.
Source: globaltradealert.org
Credit: TNN BUSINESS WATCH | 01-04-68
