Comment The government paid for Tesla's expansion (Score 1) 115
Tens of billions of dollars worth of subsidies. They were indirect subsidies so they're not as noticeable but they were still subsidies.
The point is that it's not surprising these companies are having to splash cash to build out electric cars.
But at this point electric cars are basically inevitable because solar power is basically free. Look up the technology connections video about it on YouTube. If it wasn't for the oil companies slowing down the transition we would be well on our way to completely ending fossil fuels. Apparently even in China the coal powered plants being built are just being built because of old money that owns coal plants and corruption.
So I wouldn't terribly much worry about some short-term losses for car companies. The bigger issue is things like the job market collapsing making cars unaffordable. Remember even if you have a nice big nest egg and a career you don't think is going to go away if a quarter of the country can't afford cars anymore that means car companies are going to drastically raise prices in order to make up the Lost sales on volume.
The point is that it's not surprising these companies are having to splash cash to build out electric cars.
But at this point electric cars are basically inevitable because solar power is basically free. Look up the technology connections video about it on YouTube. If it wasn't for the oil companies slowing down the transition we would be well on our way to completely ending fossil fuels. Apparently even in China the coal powered plants being built are just being built because of old money that owns coal plants and corruption.
So I wouldn't terribly much worry about some short-term losses for car companies. The bigger issue is things like the job market collapsing making cars unaffordable. Remember even if you have a nice big nest egg and a career you don't think is going to go away if a quarter of the country can't afford cars anymore that means car companies are going to drastically raise prices in order to make up the Lost sales on volume.