Click here to get a free charger and installation when pre-ordering the G6 xpeng.com.au/?qr=726XPO The best solar company in Australia just installed my new solar system. Check them out here: www.resinc.com.au/electricviking
Corporate socialism. Reverse Robin Hood-ism: take from the poor - give to the rich. Trickle-up economics. Selective democracy. Selective capitalism. Aaaahhhh....so many names for one and the same crime...which makes clwar why a system is failing.
The Chinese are subsidizing innovation, they are subsidizing the industries. The Chinese are letting those chips fall where they may! There are well over 100 Chinese companies with models selling in the 100,000s! As well, there are 100s that have failed along the way too. They aren't supporting particular companies in the same way we do, in the face of the companies otherwise failure to innovate, to compete. Truth is China makes better cars, and increasingly better everything than we do. No solar here at the scale they have. Not even UHDC lines! That alone is crazy and must be address. The Chinese are out capitalism-ing US!
The Chinese subsidized EV companies to the tune of at least $231 billion, so, yeah, why not complain. Creates jobs, more tax payers and everyone is happy. Go to Bloomberg, June 2024 for the real numbers. This video is all about fake outrage that Tesla didn't get some of that money and it's major rivals (GM, Rivian and Kia/Hyundai) are to build EVs and batteries in the US.
@@i6power30 Really? Well, Tesla is junk, but GM has high quality cars per almost every major reviewer; Kia makes some great cars, along with Lucid and Rivian. Don't know where you get your opinion from, but oh well.
For all the talks of capitalism and free market, the US immediately turn socialist bailing out these gigantic corporation. It's like sharp edge of capitalism for the small guy but cozy embrace of socialism for the big guy.
Sam Australia didn’t support its auto industry. Now Australia doesn’t have an Auto industry. Every country with an Auto industry, subsidizes its auto industry.
He gives China a big wet kiss, as usual. Oh, no subsidies in China, he intones. He really needs to avoid geopolitics and finance. His weakest areas, and focus on EVs, PHEVs, batteries and solar, where he's really strong, world class. I get embarrassed for him when he wanders out of his lane. Reminds me of Joe Biden shuffling across a stage.
GM has been supported by the government in many ways for years. It is the opposite of private enterprise. It has received over time more money from the government than any other company in history.
Not just that. The wars around the word that the USA is funding is also to blame. Also countries in BRICS are trading using their own currency. Trump is threatening to increase tariffs on Chinese imports. The future is not looking too good for the US.
@@epg644 we need an overhaul of the grid. Batteries made elsewhere are better and cheaper. I’m seriously jealous of Australia. Our government cares more about securing our doomed to fail incumbent industries than it does about securing the best possible future for its citizens.
The United States, Germany and other Western countries accuse China of subsidizing Chinese auto companies. In reality, the total amount of money used by China to support all green car companies is actually less than what GM received from the U.S. government, and this was during a time when GM's CEO's annual compensation was between $20 million and $34 million.
what is this based on? it might be true but the chinese govt is totally opaque. you have no idea how they have helped ev companies. infact you have no idea where ev company ends and the communist party begins.
Chinese government has spent over $200b (unable to verify that number 100% because lack of transparency) over that past 10 years developing and propping up their electric vehicle industry. There is no logical comparison here in good faith. Propaganda.
Another good video! Just test drove the 2024 Model Y yesterday. I say the future belongs to the smaller auto companies. I remember the Chrysler bailout as well as the first GM bailout. They need to stop this.
I love the grounded reality of this channel!!! *If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation*
I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $10,000 and receiving $35,460 after 28 days of trading.
Did someone just mention Mr Wayne!? Damn! You just made my day; what a coincidence.. I've worked with him for over 2years and I can tell how good he is
Northvolt, a Swedish battery manufacturer and Europe's best-funded start-up has filed for bankruptcy protection in the United States. The company attracted nearly $15 billion in investments, secured over $50 billion in battery orders, and was aiming for a $20 billion public offering.
... Northvolt ?!?!? ... It was a mistake from the very beginning... When you impose sanctions exactly against those who had the opportunity to offer you the necessary resources at the right prices, this is the result....
@@lauchlanguddy1004you mean the 10%, under socialism the 90% are worse off. This channel would be all about Trabants, and you’d only need to wait 8 years to get yours just as long as you’ve been kissing the right butts.
@@jasonmugridge Dont see many Trabants in Chiina. China has the biggest car market in the world. Seems a lot more that the top 10% can afford cars in China.
My friend has a business that was failing, so I lent him $10,000 to get the business up and running again. About 6 months later the friend said he had spent the $10,000 but the business was still failing, so he would not be able to pay the $10,000 back but he needed an additional loan of $20,000. If you were me, would you lend this friend the additional $20,000, knowing he would not be able to pay that back either? No, of course not, but then again you are not the US government...
Not the same. The politicians give GM other people's money (tax payers), and get a portion in kick backs (campaign donations) and can brag about saving jobs.
only china is bad and evil for doing this. as usual free trade only in danger if others do anything, if 'we' as in the major western countries do it, it is normal and the proper thing to do and if you dare to ask question you are obviously against our perfect democracy and must be some kind of -ist.
Observations from Canada: The current US government is willing to spend billions on expanding the battery industry on US soil. Of course catching up with China won’t happen anytime soon but it should dramatically lessen the dependence on China. If trump and musk aren’t happy about that then Joe might see that as a bonus!
In 2009 GM also received bail-outs from the government of Canada and the government of China. And the executives who bankrupted the company received million-dollar compensation packages. And it could happen again.
I have bought Cadilac’s for decades. 6 months I test drove a Cadillac lyric and a model 3. I bought the model 3 - the quality is on a whole different level. I’ve never had this level of quality. The sound system is also incredible. Now I know what a software defines car is.
@electricviking Sky News UK reports, "UK Car Manufacturing Industry has reported the lowest number of vehicles manufactured since NOVEMBER 1980" I do not know whether this refers to EV's or ICE, or a combination of both.
I believe the point is to bring manufacturing back to the US. Tariffs are great and all, but all that means is they move from China to Vietnam, or somewhere else that is cheaper. To get them back to the US you need to use a carrot too.
I am not sure, but I remember during the Obama administration a big government loan for a solar voltaic panel company, and it went bankrupt, and it was a total loss, the US spends money like a drunken salior.
It went bankrupt because of china dumping its panels on the world. They were found guilty of unfair trade practices and paid huge penalties. The rest of the companies that took bailouts in that program were saved from bankruptcy and paid back all the loans with interest so it actually was a profitable maneuver.
Are any of these new plants going to make a profit? I live in alberta and look for eletric cars but i am not seeing many. That is a lot of money for the government to risk with no upside.
Ford and Scion battery manufacturer might be able to create a battery plant for sale to the electricity industry in states using a lot of wind turbines and possibly solar panels. It is likely that they intend to make batteries for that , household solar and possibly to get cheaper batteries for electric cars. Could always skip the car side of things if profits are better focusing on the batteries. Not a lot of point manufacturing expensive electric cars that people can not afford to buy and are not overly interested in.
With the trade tariffs on Chinese EVs, the U.S. will need to maintain some semblance of competition with Tesla to prevent a monopoly, ensuring legacy automakers like GM and Ford survive a bit longer. It's a necessity to keep the market balanced. GM and Ford have been focusing on affordability, and their figures have improved in 2024. I reckon Trump might even step in with additional loans or subsidies-he’s previously emphasized that saving the U.S. auto industry is a priority. Will it work in the long term? 🤔 Hard to say. While these measures might buy them some time, the real challenge lies in whether GM and Ford can truly adapt to the EV revolution, especially with Chinese automakers pushing innovation and affordability on a massive scale. Without addressing core competitiveness, government support might just delay the inevitable.
Would have saved money, to let legacy motors die & buy Chinese EV’s. And more & more cities are becoming Walkable cities. Walking, cycling fighting for 15 min cities. With e-bikes, and cargo e-bikes.
@@andrewlim7751 Ford is doing just that. CEO Jim Farley said he bought evs from Nio, BYD and his personal favourite, the Xiaomi SU7 Max sedan which he uses as his daily drive. He wants to learn how the Chinese could make them so cheap, so fast and so good.
This reminds me of how GM & Ford treated the Australian government while they continued to manufacture here. Just held the govt to ransom, closed everything by 2017. This loan might have been sensible if the US hadn’t committed harikari by telling consumers they can’t buy Chinese.
This isn't even accounting for the $1.2B in approved subsidies for Vinfast, a company that sells about 40K cars a year. Just imagine the per car subsidy that represents.
The reason sales of new cars will shrink is because of overpriced poor quality vehicles. There are too many suvs and pickup trucks. And greed.. big cars big profits. Expensive insurance costs on electric vehicles.
$28B is a drop in the ocean compared to current $36T. They don't care anymore. The government will declare bankruptcy eventually. It's nice to have friends in high places.
Unfortunately these so-called loans been going on for decades overheads at fed level then the state level then down the line it goes nobody knows who got what last time around you think helping start ups to move along but dishing this amount to manufacturers that been around over hundred years ! What the hell is this racket.
They are lending them about $10 billion to try to catch up with Chinese EV makers. Interestingly, this amount is roughly equivalent to the market cap of Nio or Xpeng! It's a lot of money, but I’m skeptical about how much they’ll actually accomplish.
These US auto makers are basically alive because of tax payer money. They're not smart enough to make it any other way. What a waist of money! If they're not good enough, they should go under. I'd never be lending any money.
You have pointed out that of the 100 or so Chinese auto companies only a handful make money, and all of them were started with hand outs at all levels. This happened with world solar industry as well. The Chinese shielded and subsidized industry after industry to destroy world competition. Most Chinese auto manufactures will fail, so why such a problem with America doing the same. Either we massively subsidize our auto and battery companies, or not have these industries. At the same time much of the blame goes to our corporations constantly using their cash to buy back stock shares instead of long term reinvestment in their own companies.
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GM continues to pay a $.90 dividend per stock share per year while taking govvernment bailouts. This should not be.
The USA have been a fascist state for a while now.
Corporate socialism.
Reverse Robin Hood-ism: take from the poor - give to the rich.
Trickle-up economics.
Selective democracy.
Selective capitalism.
Aaaahhhh....so many names for one and the same crime...which makes clwar why a system is failing.
I,LL never understand why Americans tolerate what their govt does.
@@eish3291Too busy watching football? Or Taylor Swift? Or watching Taylor Swift watch football? 😂😂
@@d33763 What team does Taylor Swift play on? He sounds fast!
GM = Government Money.
And we are complaining about Chinese ev subsidy?
The Chinese are subsidizing innovation, they are subsidizing the industries. The Chinese are letting those chips fall where they may! There are well over 100 Chinese companies with models selling in the 100,000s! As well, there are 100s that have failed along the way too.
They aren't supporting particular companies in the same way we do, in the face of the companies otherwise failure to innovate, to compete. Truth is China makes better cars, and increasingly better everything than we do.
No solar here at the scale they have. Not even UHDC lines! That alone is crazy and must be address.
The Chinese are out capitalism-ing US!
The Chinese subsidized EV companies to the tune of at least $231 billion, so, yeah, why not complain. Creates jobs, more tax payers and everyone is happy. Go to Bloomberg, June 2024 for the real numbers. This video is all about fake outrage that Tesla didn't get some of that money and it's major rivals (GM, Rivian and Kia/Hyundai) are to build EVs and batteries in the US.
At least the Chinese are making good cars with the subsidizes. The US are making junk with all that money
@@i6power30 We actually know this because?
@@i6power30 Really? Well, Tesla is junk, but GM has high quality cars per almost every major reviewer; Kia makes some great cars, along with Lucid and Rivian. Don't know where you get your opinion from, but oh well.
I remember the bailout with Chrysler in the 80s. Should have let that compamy fail. All their cars were and are junk. Let automakers fail.
plenty of US petrol and diesel junk about now.
Chrystler vehicles are a bit dated, but otherwise fine.
They paid it back. Every penny.
I remember that one too. The CEO at the time was touted as a hero for saving the company
@@davidanderson8469 they paid it off early. It was actually not a loan but a guaurantee back up.
For all the talks of capitalism and free market, the US immediately turn socialist bailing out these gigantic corporation. It's like sharp edge of capitalism for the small guy but cozy embrace of socialism for the big guy.
corporate communism
Socialism is bad, for the average Americans, but not for big corporations. Disgusting.
It's classical crony capitalism. Government bureaucrats giving government dollars to their buddies that's all this is
USA has always been the guy taking money from the poor and giving it to the rich.
Nothing socialist: oligarchs.
disgusting, that is not the government's money..... it's ours.
The best part of this is that most will be used to pay out stock holders and CEOs. American greed and corruption is their Achilles heel.
Small potatoes compared to what the USA and Canada subsidise that the Oil and Gas industry.
Oil and gas subsidies must stop immediately.
That’s the only reason petrol is so cheap here
Sam Australia didn’t support its auto industry. Now Australia doesn’t have an Auto industry.
Every country with an Auto industry, subsidizes its auto industry.
He gives China a big wet kiss, as usual. Oh, no subsidies in China, he intones. He really needs to avoid geopolitics and finance. His weakest areas, and focus on EVs, PHEVs, batteries and solar, where he's really strong, world class. I get embarrassed for him when he wanders out of his lane. Reminds me of Joe Biden shuffling across a stage.
Sounds like subsidizing, and they accuse the Chinese of doing it. 😅
They call it a loan to make it sound nice, but effectively it,s a subsidy to the companies who will now find every excuse in the book to not repay it.
Sam just said oh no subsidies in China. Watch it again. It's disinformation at it's best.
GM has been supported by the government in many ways for years. It is the opposite of private enterprise. It has received over time more money from the government than any other company in history.
Heres one for ya . 2007 was the most profitable year in the history GM. The next year they filed bankruptcy.
What happened in 2007? The crash that kicked off the Great Recession?
Nope. GM lost 40 billion dollars in 2007.
WTF😡 No wonder the U.S. is $36 trillion in debt!
A drop in the bucket compared to the trump 8 trillion increase in debt that went straight to billionaire tax cuts.
Not just that. The wars around the word that the USA is funding is also to blame. Also countries in BRICS are trading using their own currency. Trump is threatening to increase tariffs on Chinese imports. The future is not looking too good for the US.
Some of it must have paid for lockdown. You know, when they tricked millions into destroying their f….y.
they just inflate their way out, people suffer, who cares.
low iq, this is nothign compared to defence spending
Socialism for multinational corporations and the 1 percent and capitalism for the bottom 99%. Truly an American dream.
GM's corporate officers still collecting millions in salaries and bonuses paid with our tax dollars!!
Socialism for the rich
corporate communism
😂😂%100
GM was bailed out to save the UAW though.
Asocialism.
This is exactly the ridiculous type of crony capitalism that people voted against
Money rules: Argentocracy.
WTF. Citizens in the U.S. are struggling and the government is handing out cash left and right to failing corporations.
Should we stop the billions in subsidies to big oil, big agriculture, etc. At least this is an investment into our obvious future....
@ I’d love to stop subsidizing dirty energy
@@epg644 we need an overhaul of the grid. Batteries made elsewhere are better and cheaper. I’m seriously jealous of Australia. Our government cares more about securing our doomed to fail incumbent industries than it does about securing the best possible future for its citizens.
@epg644 this is an investment in grifters futures not Americans.
And the government are stopping us citizens the right to buy good quality, well designed Chinese EVs too.
The United States, Germany and other Western countries accuse China of subsidizing Chinese auto companies. In reality, the total amount of money used by China to support all green car companies is actually less than what GM received from the U.S. government, and this was during a time when GM's CEO's annual compensation was between $20 million and $34 million.
what is this based on? it might be true but the chinese govt is totally opaque. you have no idea how they have helped ev companies. infact you have no idea where ev company ends and the communist party begins.
Make it make sense
Tesla gets way more than anyone because the so called Space Program, "Space X" also ran by Elon Musk is a completely Fake government agency
Chinese government has spent over $200b (unable to verify that number 100% because lack of transparency) over that past 10 years developing and propping up their electric vehicle industry. There is no logical comparison here in good faith. Propaganda.
This is a typical case of US Government hypocrisy. I can do what I do, but you are not allowed to do what I do.
Another good video! Just test drove the 2024 Model Y yesterday. I say the future belongs to the smaller auto companies. I remember the Chrysler bailout as well as the first GM bailout. They need to stop this.
I love the grounded reality of this channel!!!
*If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation*
I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $10,000 and receiving $35,460 after 28 days of trading.
I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do? Thank you
Well, I have nice side hustles like investing and the good thing is that I do it with one of the best (Mr Wayne), he's really good!
I will recommend. Michael Wayne . Investing Services. to you. He is good at what he does.
Did someone just mention Mr Wayne!? Damn! You just made my day; what a coincidence.. I've worked with him for over 2years and I can tell how good he is
Our Christmas wish is Joe Biden out today and Trump in .
Hopefully this might make EVs really take off in the US.
I don't understand how a government can be so reckless and without accountability.
Simple: they don't really care.
28 billion... yet, same time: "Waaaaaah, China subsidies. Waaaaaah China 'oversupply'"
These bailouts are about as unexpected as the Sun coming up in the East.
I read these loans are paid over time and have progress metrics the companies need to reach to get the full values. Not like the previous loan to GM.
Northvolt, a Swedish battery manufacturer and Europe's best-funded start-up has filed for bankruptcy protection in the United States. The company attracted nearly $15 billion in investments, secured over $50 billion in battery orders, and was aiming for a $20 billion public offering.
And the battery factory being built in Gothenburg is also uncertain now...
You wont see him adress that, this channel is just a eco chamber to hate on ICE engines.
... Northvolt ?!?!? ... It was a mistake from the very beginning... When you impose sanctions exactly against those who had the opportunity to offer you the necessary resources at the right prices, this is the result....
Tesla/Rivian buy/merge who knows. Seems like a match made in heaven.
President Musk must be fuming about this.
First Lady Donald is also very upset.
@@ryancouture2508good one
@@ryancouture2508President Elon has poor taste🤣
wrg
@@ryancouture2508 LOL!
Socialism for the rich and austerity for the poor, no wonder Luigi is instigating second american revolution
Hopefully
nothing wrong with socialism for 90% of people.
@@lauchlanguddy1004you mean the 10%, under socialism the 90% are worse off. This channel would be all about Trabants, and you’d only need to wait 8 years to get yours just as long as you’ve been kissing the right butts.
@@jasonmugridge Dont see many Trabants in Chiina. China has the biggest car market in the world. Seems a lot more that the top 10% can afford cars in China.
@@jasonmugridge My family had Trabant for 30 years. I still used it when I was 18.
What a mess.
I assume the EU will be slapping on massive tariffs on those brands for anti-competitive government support?
My friend has a business that was failing, so I lent him $10,000 to get the business up and running again.
About 6 months later the friend said he had spent the $10,000 but the business was still failing, so he would not be able to pay the $10,000 back but he needed an additional loan of $20,000.
If you were me, would you lend this friend the additional $20,000, knowing he would not be able to pay that back either?
No, of course not, but then again you are not the US government...
Not the same. The politicians give GM other people's money (tax payers), and get a portion in kick backs (campaign donations) and can brag about saving jobs.
love this channel 😊
The US gives 20 BILLION subsidies to big oil EVERY year. Just in the US, world wide big oil gets hundreds of billions every year.
Oil isn't failing, so it's helping everyone.
Its causing our increasingly unstable climate and costs us billions. Renewable energy is way cheaper.@ExploringCabinsandMines
"The US gives 20 BILLION subsidies to big oil EVERY year" Citation?
what is your source? I know it has subsidies but I have never seen numbers.
@@jeffjwatts You also pay for oil 3 times. Once when it's subsidized, once when you buy it back to put in your car, and then it's also taxed.
US Fed SUBSIDIES! I thought only China did that! Lol
only china is bad and evil for doing this. as usual free trade only in danger if others do anything, if 'we' as in the major western countries do it, it is normal and the proper thing to do and if you dare to ask question you are obviously against our perfect democracy and must be some kind of -ist.
Observations from Canada: The current US government is willing to spend billions on expanding the battery industry on US soil. Of course catching up with China won’t happen anytime soon but it should dramatically lessen the dependence on China. If trump and musk aren’t happy about that then Joe might see that as a bonus!
As long as the 'Big Guy' gets his %.
Exactly. He should be in jail.
What percentage is Trump getting? Is musk getting a taste
@@mattyb1624 yes Trump should be in jail. Maybe in four years after he finishes his terminal office.
Keeping the truth out front thanks for sharing your insight 👍🏁👌👏
In 2009 GM also received bail-outs from the government of Canada and the government of China. And the executives who bankrupted the company received million-dollar compensation packages. And it could happen again.
"Borrow" sort of like when you "Lend" your children the money you buy a car. We just bought them their first cars as it's calling a space a spade.
Great video, important information.
I have bought Cadilac’s for decades. 6 months I test drove a Cadillac lyric and a model 3. I bought the model 3 - the quality is on a whole different level. I’ve never had this level of quality. The sound system is also incredible. Now I know what a software defines car is.
Us economy is two financialized to repatriate manufactur
@electricviking
Sky News UK reports,
"UK Car Manufacturing Industry
has reported the lowest number of
vehicles manufactured since
NOVEMBER 1980"
I do not know whether this refers to
EV's or ICE, or a combination of both.
I believe the point is to bring manufacturing back to the US. Tariffs are great and all, but all that means is they move from China to Vietnam, or somewhere else that is cheaper. To get them back to the US you need to use a carrot too.
Is this channel becoming an unabashed hate the US love China screed? What's going on?
Loan is definitely not government subsidy
Yes, going through the list of of complaints on China's subsidies include, loans, loan guarantees, transfer of risk and even access to land.
I am not sure, but I remember during the Obama administration a big government loan for a solar voltaic
panel company, and it went bankrupt, and it was a total loss, the US spends money like a drunken salior.
Yes.
No
It went bankrupt because of china dumping its panels on the world. They were found guilty of unfair trade practices and paid huge penalties. The rest of the companies that took bailouts in that program were saved from bankruptcy and paid back all the loans with interest so it actually was a profitable maneuver.
Will Canoo get any of this money?
Loan borrowed to pay Mary Barra
I wonder … how much did Stellantis, GM, Korean car companies donate to the Democrats presidential run and what did they get in return..,?
I love how they "borrow" money from US citizens like they'll ever give it back. We don't even get discounts
Tesla got a loan in 2010 and paid it back early, with interest, in 2013. GM, diff story....
When they default on those "loans" the public will never hear about it.
The loan is to scale up 3 production plants in the US. I mean it’s not like they are giving the money in a bailout.
Are any of these new plants going to make a profit? I live in alberta and look for eletric cars but i am not seeing many. That is a lot of money for the government to risk with no upside.
Ford and Scion battery manufacturer might be able to create a battery plant for sale to the electricity industry in states using a lot of wind turbines and possibly solar panels. It is likely that they intend to make batteries for that , household solar and possibly to get cheaper batteries for electric cars. Could always skip the car side of things if profits are better focusing on the batteries. Not a lot of point manufacturing expensive electric cars that people can not afford to buy and are not overly interested in.
With the trade tariffs on Chinese EVs, the U.S. will need to maintain some semblance of competition with Tesla to prevent a monopoly, ensuring legacy automakers like GM and Ford survive a bit longer. It's a necessity to keep the market balanced. GM and Ford have been focusing on affordability, and their figures have improved in 2024. I reckon Trump might even step in with additional loans or subsidies-he’s previously emphasized that saving the U.S. auto industry is a priority.
Will it work in the long term? 🤔 Hard to say. While these measures might buy them some time, the real challenge lies in whether GM and Ford can truly adapt to the EV revolution, especially with Chinese automakers pushing innovation and affordability on a massive scale. Without addressing core competitiveness, government support might just delay the inevitable.
Trump sucks
Commenting from the US...
Please help us!
you want to know if this money will be paid back? google the 2008 bailout and check who still owns what. its billions and billions.
Would have saved money, to let legacy motors die & buy Chinese EV’s. And more & more cities are becoming Walkable cities. Walking, cycling fighting for 15 min cities. With e-bikes, and cargo e-bikes.
They have to protect donors.
GM should just have bought a few different Chinese EVs, and what is it called, reversed engineered them and brought them out as their own model(s).
The Americans should reverse engineered the Chinese EV and then claimed the Chinese copied their designs, problem solved. 😁😁
@@Martian_Alien
Ford did just that.
@@andrewlim7751
Ford is doing just that. CEO Jim Farley said he bought evs from Nio, BYD and his personal favourite, the Xiaomi SU7 Max sedan which he uses as his daily drive. He wants to learn how the Chinese could make them so cheap, so fast and so good.
The GM loan was paid back with interest.
US already owes 36 trillion. What's another 28 billion? Mere pocket change. lol
This goes with the tariffs on Chinese batteries and cars. It’s a lifeline to save us car makers. Again.
10% for the Big Guy? One is left wondering!
This reminds me of how GM & Ford treated the Australian government while they continued to manufacture here. Just held the govt to ransom, closed everything by 2017. This loan might have been sensible if the US hadn’t committed harikari by telling consumers they can’t buy Chinese.
This isn't even accounting for the $1.2B in approved subsidies for Vinfast, a company that sells about 40K cars a year. Just imagine the per car subsidy that represents.
They made a mistake bailing them out the last time. It never makes them more competitive
Think about all the homeless people in the us.
Nice to see that mary barbara will not be joining the homeless any time soon.
Gotta compete with Chinese EV subsidies. Or not?
Wasn't the US and Eu complaining of China subsidize EV companies.
Nuts, why give them anything.
US government paying pensions to retired auto workers?
The reason sales of new cars will shrink is because of overpriced poor quality vehicles. There are too many suvs and pickup trucks. And greed.. big cars big profits. Expensive insurance costs on electric vehicles.
W for General Motors for burning money
In the United States will always be too expensive
"Capitalism", but with US characteristics.
You can’t lose money that you’re loaning to yourself and print the world’s reserve currency.
It's also the best way of NOT being the world's reserve currency anymore
Printing overcapacity and slave printer. 😊
Money laundering.....
The only way to get the money back will be to tax us more .US tax payers will be stuck paying the bill.
Typical US bailout shit show. Taxpayers who have no say are left with the bill.
That should be the title of the video.
$28B is a drop in the ocean compared to current $36T. They don't care anymore. The government will declare bankruptcy eventually. It's nice to have friends in high places.
That's not how it works. It's not the same as you or I taking a loan.
What happened to the statute that prevented a preceeding administration from burdening subsequent admins with debt obligations?
Is there such a statue? If so I am sure the new admin will use it to nullify these things.
Has to be good. More competition , lower prices
Might get some of the funding back by reducing the subsides to fossil fuel industry and reducing social security bills by employing people
The U.S. government is giving GM the people's money. Of course, much of that money is borrowed.
And Biden tried to cancel student loans passing the irresponsible borrower's debt to the taxpayers.
When you said, "he doesn't care." I unsubscribed.
Hey Sam, what do you think of the claim that Trump will prohibit the Department of Defense from buying EVs?
Well, he can ask the Space Force to transport folks around.
Unfortunately these so-called loans been going on for decades overheads at fed level then the state level then down the line it goes nobody knows who got what last time around you think helping start ups to move along but dishing this amount to manufacturers that been around over hundred years ! What the hell is this racket.
They are lending them about $10 billion to try to catch up with Chinese EV makers. Interestingly, this amount is roughly equivalent to the market cap of Nio or Xpeng! It's a lot of money, but I’m skeptical about how much they’ll actually accomplish.
These US auto makers are basically alive because of tax payer money. They're not smart enough to make it any other way. What a waist of money! If they're not good enough, they should go under. I'd never be lending any money.
👍👍
Plus 10% for the Big Guy. He belongs in prison!
FYI - the “Dept of Government Efficiency” doesn’t exist yet.
Congress would have to create it.
dont be deluded, DOGE is another money laundering bureaucracy
Already exists, its called the GAO - The government accountability office.
@@slopedarmoryup, it’s the GAO being renamed basically.
This money is burned!
No question there are kickbacks involved 😂
Don't be naive, party politics is more important for the American elites than ordinary folks' well being. That's your American dream babe.
And US Commerce Department has called for extra tariffs on Chinese cars while it forks heaps of money on its auto companies. Rich?
You have pointed out that of the 100 or so Chinese auto companies only a handful make money, and all of them were started with hand outs at all levels. This happened with world solar industry as well. The Chinese shielded and subsidized industry after industry to destroy world competition. Most Chinese auto manufactures will fail, so why such a problem with America doing the same. Either we massively subsidize our auto and battery companies, or not have these industries. At the same time much of the blame goes to our corporations constantly using their cash to buy back stock shares instead of long term reinvestment in their own companies.
Republican presidents do the same when leaving office. Pls dont make a big fuss about things that has been going on for decades