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.
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.