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If 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: -1
by thelastgallon 3y ago
If 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