EV Joe Horseman’s Subsidy & Tariff Trough

Will somebody please pinch Joe Biden? As WSJ op ed AGAIN points out, “The EV Ink Keeps Coming” yet Joe wants his subsidized turkeys even more expensive for naïve buyers by QUADRUPLING the tariff on Chinese turkeys.

Not coincidentally, Fox News noted Mercedes Benz is the most recent automaker to “retreat from its ambitious plans for going all-electric after a decline in profits.” And, Musk & Tesla tried to stem sharply declining sales by bragging about how it will “spend $500 million” on its ballyhooed charging network; yet, that peace offering to customers, who thought Elon was reneging on his promise to build charging stations until you puke, is in reality a band aid sum, a pimple on the electric horseman’s rear end … which also comes on the heels of a massive 10% workforce layoff.

Putting tariffs on Chinese EVs certainly isn’t going to make consumers jump for joy once they see the new sticker pricing. The WSJ editorial board also marveled at Mr. Biden’s apparently stubborn head in the sand mentality in that “As companies rack up big losses”, Joe keeps rolling out the subsidies,” not realizing he’s throwing good taxpayer money after bad to “force-feed [his] EV transition” ala Don Quixote. The news keeps getting worse by the day. EV manufacturer Lucid just reported a $684 million loss in this year’s first quarter alone. And, not to be outdone, EV startup Rivian reported a $1.45 billion loss during the first three months of 2024. “Not to worry,” waxed the WSJ editors, “the Administration this week rolled out $100 million in subsidies for EV parts.” The editors concluded: “Manufacturers are at least trying to cut their losses. Why isn’t the Administration?”

Davd Soul