Proud capitalist USA is loaning $2.5 billion to a General Motors/ LG Energy Solution joint venture, Ultium Cells, that will produce batteries needed to propel the next generations of GM EVs. Details of the plan are sketchy but the financing will enable the construction of plants in Lansing, MI, Lordstown, OH and Spring Hill, TN.
The socialist maneuver is a "loan that will come from the department's Advanced Technology Vehicles Manufacturing program, which provides loans to support U.S. manufacturing of light-duty vehicles, parts and other materials that improve fuel economy."
Thus the state not only finances the construction of aircraft carriers, ICBMs, nuclear subs and the daily expenses of the Ukraine military defense, it also subsidizes the development of vehicles that are so far unproven in general use. It's a constant complaint from the US business community and government that foreign countries illegally subsidize the manufacture of some products but apparently electric sedans aren't an example.
Maybe the funds will come from the billions that illegal immigrants kiss good-bye in the social security deductions withheld from their paychecks that they'll never be able to collect.
Tesla after an accident in Taiwan
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