GM’s appetite feeding at the public trough has no limits. The company, already the second most heavily subsidized corporation in America, is getting a low-cost $2.5 billion loan from the Department of Energy to build battery cell plants with a joint venture partner. In my mind the loan is wasteful and risky as I’m doubtful GM can survive if electric vehicles are the future.
Amazon’s acquisition of One Medical primary care clinics this week marked another dark moment in the ongoing decline of U.S. healthcare. Consumers who are fed up with the dismal state of U.S. airlines would be wise to heed this warning.
It’s a wonder how Ford keeps track of all its recalls and lawsuits, which are sprouting like dandelions. Three lawsuits with damning allegations about Ford vehicles were reported last week, and the company was forced to recall more than 100,000 vehicles because of engine fire incidents. Ford has pioneered what literally could become a killer category: Vehicle Flambe.
Little wonder that Steven Croley, Ford’s impressively credentialed chief legal counsel, reports directly to CEO Jim Farley and an influential board member.
The top executives of Stellantis, whose U.S. brands include Jeep, Ram, and Chrysler, on Wednesday warned the auto industry is in danger of collapse if the prices of electric vehicles don’t significantly decline. Supply chain and materials’ shortages makes that scenario unlikely.
Underscoring the cluelessness of the U.S. leadership driving the accelerated conversion to electric vehicles, Reuters reported this morning that a proposed California tax on lithium mining could lead to additional shortages and stifle the U.S. lithium mining industry before it begins. China already controls the global EV materials supply chain.
The ineptness of America’s energy leadership comes as no surprise to Michigan residents who lived in the state between 2003 and 2011.
I’ve learned never to bet against Elon Musk, but it seems reasonable to ask if he can forever sell problem-plagued vehicles typical of GM and Ford without serious brand and financial consequences.
Regardless, it’s a sad commentary on America’s stature in the world when Europeans regard China as the gold standard in electric vehicle manufacturing.
Despite being headquartered in the Detroit area, GM and Ford have become unabashedly unpatriotic with regards to the manufacturing of their vehicles. And Trump MAGA supporters tooling around in GM and Ford pickup trucks, particularly the Chevy Silverado or GMC Sierra 1550, are either blissfully ignorant or shameless hypocrites.
Pickup owners who love and want to support the most “Made in America” truck proudly drive a Honda Ridgeline.
I was encouraged learning in recent days that people way better credentialed than me aren’t punch drunk drinking the Biden Administration’s and media’s Kool-Aid triumphing America’s accelerated conversion to electric vehicles. Unfortunately, those who question the narrative are quickly dismissed as “right wing” Republican “climate change deniers.”
There’s an urgent need for a self-help group modeled after Alcoholics Anonymous for people with the sobriety to appreciate America’s EV conversion is poorly planned and executed by frighteningly ignorant political leaders with no clue as to the dangers of their policies.
Allow me to explain why the conversion should already be sounding alarm bells.
The more GM’s Mary Barra and Ford’s Jim Farley talk, the more I appreciate the genius of Elon Musk and the possible invincibility Tesla’s EV dominance for many years to come.
The future of car dealerships is in doubt. Until last week, I was the among the few who regretted their passing.
Elon Musk so far is laughing all the way to the bank with his supposed bid to acquire Twitter. Here’s why investors should be concerned by his antics.