RE:RE:RE:RE:Proterra Becomes Latest EV Innovator To File For BANKRUPTCYabsolutely correct z. All goes back to Obama era.
Excerpts from this WP article below from 2013 gives you an idea of the kind of money that was going out the window.
They even quote then VP Biden. Certainly hasnt gotten brighter with age.
President Obama repeatedly declared that, with enough federal aid, we can put a million electric vehicles on the road by 2015. His administration has invested about $5 billion in grants, guaranteed loans — including $465 million for Tesla — and tax incentives to buyers.
Yet Americans bought just 71,000 plug-in hybrids or all-electric vehicles in the past two years, according to GreenCarReports.com. That’s about a third as many as the Energy Department forecast in a 2011 report that attempted to explain why Obama’s goal was not preposterous.
Even Nissan chief Carlos Ghosn, whose commitment to the all-electric Leaf helped his firm get a $1.4 billion U.S. loan guarantee, has reduced his boosterism in the face of disappointing sales.
As for Vice President Joe Biden’s 2009 forecast of “billions and billions and billions of dollars in good, new jobs,” the electric car factory at which he made that statement sits idle. Ditto the taxpayer-backed Michigan factory of battery maker LG Chem. Two Energy Department-funded lithium-ion battery makers have gone bankrupt.
There’s simply no denying that the administration’s electric-vehicle project was a mistake.