So let me get this straight, a KOREAN company is questioning state intervention in business?
One second, let me just get Samsung on the line …
Context
Samsung is like 1/5 the of their GDP, they make Korea’s military hardware, students start learning in expensive coachings and schools (both) just to get employed by samsung. The state must protect Samsung if it falls so do they.
I thought Korea did business intervention in government?
No, no, that’s USA! And plenty other countries, too.
Probably not at the same level as Korea though.
I rather think the old car industry is just trying to keep the prices up. Non-electric cars have thousands of moving parts compared to electric ones. New electric cars are just large RC cars with luxury features; they should be much cheaper to build, not more expensive! Add to this that manufacturers seem to have really cut down on the quality controls, with most new car models you are the quality test department.
The electric motor for a car, mass produced, shouldn’t cost as much as an internal combustion engine. But with a century of development of supply chains and manufacturing prowess and automation, it seems it’s possible.
However, the batteries are also a huge cost component, and China has developed a huge lead on building them that hasn’t been matched. The lead was likely developed with government funding, but it’s not like government research money, government loans, and government subsidies are an impossibility outside of China.
China doesn’t have a lot of fossil reserves and is working hard on energy independence through electrification and generation via solar and nuclear. The “developed world”’s resistance to moving off fossil fuels isnt going to end well, in my non-expert opinion.
I’ve got an unsubstantiated theory. China got fed up with the rest of the world bickering about how to combat climate change. Instead they asked where they could get most bang for their buck independently?
Flooding the world with cheap solar panels and cheap electric cars looks like a highly cost efficient method.
It’s not a great theory given that China has a shitton of coal plants and is building a ton more.
I never said they were idealistic about it. If it’s cheaper to flood out solar panels, but build coal, they will do. They are likely maxing out on renewable deployment, but still need more power.
It’s akin to a meat eater not going vegetarian, but persuading a dozen friends to cut back on meat, with got vegetarian food. If it’s a net gain, call it a win.
That would be gloriously philanthropic. Too good to be true. But whatever their game is, it’s working.
Enlightened self interest. Climate change will fuck china over. Slowing it is definitely in their interests. They are already maxing out on installing renewables in china.
They likely did the maths and concluded it was cheaper to help the west decarbonise than try and replace their coal power plants.
I personally disagree with a lot of aspects of China’s governing, but they are very good at long term planning. It’s a lot easier when you expect to be in charge in 20 years, to plan for 20 year time spans.
Where was Hyundai when GM and Chrysler were being bailed out?
In a different country…
Isn’t stopping them now.
Also i want an electric car that doesn’t have a service plan like an iphone. I just want a dumb electric with the features of a 1991 Toyota Corolla.
They are
because they arnt gouging prices like current EVs in the market.
A lot of the major OEMs aren’t even profitable on their EV ‘gouging prices’ so it doesn’t seem to be that.
E.g Ford is still losing money. Last year GM was losing money, but their latest lineup is supposed to change that, but given their q2 2025 statement below, I’m not sure that’s true yet
“Despite slower EV industry growth, we believe the long-term future is profitable electric vehicle production, and this continues to be our north star.”
