BYD Executive Criticizes UK EV Subsidies as "Stupid", Warns of Long-Term Market Harm

Stella Li, Executive Vice President of BYD, has sharply criticized the UK government's electric vehicle (EV) subsidy program, labeling it "stupid" and warning of long-term market distortions. Li, overseeing BYD's global expansion, argued that such subsidies act like a "drug," creating dependency that could damage the local automotive sector if withdrawn. Despite her objections, she confirmed the policy wouldn't impact BYD's UK sales, emphasizing the company's commitment to creating 5,000 jobs in the country by 2026.

The UK recently unveiled a £650 million grant program offering discounts up to £3,750 for EVs priced under £37,000, with additional incentives for low-emission vehicles. Transport Secretary Heidi Alexander defended the initiative, stating it makes EV ownership more accessible while stimulating the economy. "This isn't just about cleaner transport—it's about putting money back into people's pockets," Alexander remarked, framing the subsidies as a win for consumers and businesses alike.