This. The system works just as intended. If the state is throwing free money around why wouldn't you pick it up and pocket it? Your job isn't to create jobs or return on investment, it's to funnel that free state money in the pockets of shareholders.

For those looking for another similar example of European subsidized tech failure check the ST-Ericsson story.

China also subsidizes the car and battery industry and in their case, it seems to be working just fine. So a blanket statement of "state subsidies = bad" does not tell the whole story.

This is a bit of a black and white way of putting it. Yes, much state money is wasted, but not all. Some of the money went to Swedish construction workers for example.