cross-posted from: https://lemmy.sdf.org/post/53018760 > Archived > > BYD reported its earnings results for the final quarter of 2025 last Friday, disclosing its first annual profit decline since 2021. > > In the annual report that followed the results, the world’s largest electric vehicle maker said that it received 12.47 billion yuan ($1.8 billion) in government subsidies related to its daily operations in 2025. > > […] > > Government subsidies for Chinese automakers have become a flashpoint in the industry for years. > > In October 2024, the European Union imposed provisional tariffs on Chinese-made EVs in 2024, citing what it described as unfair state subsidies. > > The United States maintains a 100% tariff on Chinese EVs and a ban on Chinese software over connected vehicles and data concerns. > > Canada levied a 100% tariff on Chinese EV imports before reducing it to 6.1% last January under a quota system that allows up to 49,000 imported vehicles to benefit from the much lower duty. > > […] > > According to the company’s annual report filed with the Hong Kong and Shenzhen stock exchanges on Friday, the subsidies represent 31.4% of BYD‘s total pretax profit of 39.73 billion yuan, and 38.2% of net profit attributable to shareholders of 32.6 billion yuan ($4.71 billion). > > […]