Baffled: Japanese take apart BYD electric car and wonder: 'How can it be produced at such a low cost?'One of the BYD big shots, Stella Li, said the following to Bloomberg Businessweek:
Like many Chinese executives, Li bristles at the notion that BYD owes its success to government largesse and calls subsidy accusations "completely groundless." BYD is so formidable because it's emerged victorious from China's brand of state-led capitalism, which weeds out weak or inefficient players by forcing them to compete in a protected, carefully calibrated sandbox. For Li, that victory was hard won, the result of grit and determination. "They cannot beat us and can only attribute our success to other factors," she says. "We'd rather just show our muscles than make explanations to them."Wed, 13 Nov 2024 02:38:33 +0000
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