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"The car is cheap because money is free" is what the article is basically saying: China provides no-interest loans to EV manufacturers.
So does everyone else.
While Rivian was provided a $6.6 billion loan for its new production facility in Georgia, Scaringe noted that automakers in the People’s Republic like Xiaomi receive outright grants from their own government, which is “just not something that exists in the US.”
This MF really coming here and pretending companies don't get subsidy as gargantuan tax cuts to install new factories?
In May 2024, the state of Illinois provided an $827 million incentive package to Rivian to expand its existing manufacturing facility in Normal.
In 2022, Rivian secured a $1.5 billion incentive package from the state of Georgia for a new manufacturing plant near Social Circle.
Rivian has received federal and state funding through programs aimed at electrifying commercial vehicle fleets. Amazon vans: Its agreement with Amazon for 100,000 electric delivery vans has received support through federal programs that incentivize fleets to switch to zero-emission vehicles. Federal tax incentives: The company has also benefited from programs like the federal Clean Vehicle Tax Credit, which has been available for commercial electric vehicles.
Exactly! And the POS Rivian CEO is saying "Chinese cars are cheap because of government subsidy, which I don't get in the USA". Skill issue, I say.
The whole auto industry is based on corporate welfare, worldwide.
Probably just a marketing ploy by him to shill for further government subsidies