Last year’s numbers for China’s electric vehicle industry tell the story: production rose 10 percent and revenues 7 percent, but profit margins fell to their lowest level in a decade. Production incentives lock original equipment manufacturers into a destructive cycle of hypercompetition called “involution” in which they impose even more crushing payment terms on their suppliers. Driven to overproduce beyond what Chinese consumers can buy, they dump excess output in foreign markets where they at least have some hope of making the profits they need to gain an edge on domestic competitors and keep factories humming to please Chinese Communist Party overseers. Add a significantly undervalued yuan that makes their cars artificially cheap in dollar terms, and you have an incubator for global manufacturing titans like battery maker CATL.

...

By all means, follow the money. Just understand that with Chinese EVs, it leads to a dead end for Canadian automotive manufacturing and could ultimately trigger a slow death spiral for much of Canadian industry. All too often, I hear Canadians saying we have no choice now. What they really mean is that the easy path is blocked, and they don’t like the harder road. But that’s the one that leads to longer-term prosperity and sovereignty through developing our own supply chains and ecosystems.

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[–] Scotty@scribe.disroot.org 0 points 3 days ago (1 children)

Second worker dies at Hungary BYD factory scrutinized for labor violation

[–] marxismtomorrow@lemmy.today 1 points 3 days ago (1 children)

Can you please fucking read your propaganda before trying to make claims you don't understand?

Because you just agreed with me that it's not BYD. At all. Even slightly. It's not even a Chinese company.

Unless you believe the following companies are Chinese: LÉVAI-SECURITY Ltd., Plusz Kéz Ltd., and AIM Construction Hungary Ltd.

Because this is a construction site. Not a factory in use. It is a construction site using mostly local companies and workers to do construction. Because that's usually the law in most countries. BYD has been fined in Brazil because "it should be supervising what's happening on the site," because some politicians have no concept of how a construction site functions and think that Mr John BYD himself is inspecting each day laborer's balls every night. A misconception you too seem to hold.

[–] Scotty@scribe.disroot.org 0 points 3 days ago* (last edited 3 days ago)

It is a construction site using mostly local companies and workers to do construction.

No, as always, BYD is using migrant workers from Asia. In case of this Hungarian site, there were some 10,000 Asian workers employed (their passports were confiscated, they were not paid adequately, they worked 12 hours a day, 7 days a week, they lived in containers under inhumane and catastrophic conditions, ...).

Btw, this Hungarian company, which is controlled by BYD, is the same that is responsible for the BYD factory in Brazil, just for your information.

[Edit typo.]