China's BYD received €3.4bn in government subsidies for EVs and clean tech, increasing from €220m in 2020, investigated by EU for unfair aid.
China's BYD received €3.4 billion ($3.7bn) in direct government subsidies to dominate electric vehicles (EVs) and other clean technologies, according to a study by Germany's Kiel Institute for the World Economy. The aid for China's leading EV maker increased from €220m in 2020 to €2.1bn in just two years. The European Union is currently investigating allegedly unfair aid for China's EV sector.
April 10, 2024
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