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1) is complete nonsense, 2) ignores how Tesla was funded which no traditional car company has access to, 3) is overblown and 4) is because it's a managed econom
by throwawaaarrgh 3y ago
1) is complete nonsense, 2) ignores how Tesla was funded which no traditional car company has access to, 3) is overblown and 4) is because it's a managed economy.
- thelastgallon 3y agoIf you are talking about Tesla's loan, it was fully paid off. But taxpayers gave legacy car manufacturers a gift of 12.4 billion dollars. Total net to date: -12.4B (https://projects.propublica.org/bailout/list/category/Auto%20Company https://projects.propublica.org/bailout/list/category/Auto%2...), losses from ICE manufacturers. Tesla's loan: $465 million, January 2010, Loan fully repaid in May 2013 (~3.5 years) https://www.energy.gov/lpo/tesla https://www.energy.gov/lpo/tesla Traditional car companies have access to tens of billions in bailouts, which EVs never have and never will. (1) Chrysler Bailout of 1979, $1.5 billion (2) In 2008, $17.4 billion bailout to General Motors and Chrysler (3) In 2009, $3 billion, cash for clunkers
- ryan93 3y agoLook up General Motors net income and tell me they dont have access to cash.