Comment by addy34
7 hours ago
Do you mean BYD? They posted USD1.2 billion in profit in the most recent quarter FYI, with gross auto margin of ~20%. Their domestic margins are not good, but they've have strong export growth recently and exports are profitable.
Isn't that similar to how Emirates is profitable (~16% before tax as of the last fiscal year) while providing a more luxurious service? For both, the line between state and corporation is blurry enough that you could argue both are subsidized to starve out international competition.
Emirates claims no subsidies at all; BYD's disclosed direct grants alone are about a third of their cumulative lifetime profit, let alone indirect subsidies.