GM’s Quantum Leap Away From EVs

Armageddon may be coming, but more likely because of astronomical global warming mediation costs not global warming itself. Case in point is auto industry’s losing billions & suddenly bailing on EVs sitting unsold in dealership lots.

Never mind Tesla’s latest PR nightmare over massive recall involving botched EV safety software. Holman Jenkins recently pointed to GM’s “big [$10 billion] share buyback” to cover GM’s massive losses on government-mandated electric vehicles & instead shower its ongoing gas-guzzling truck profits on disillusioned shareholders. Think about THAT messaging. GM CEO Mary Barra just put management’s money where its mouth is to the tune of a QUARTER OF THE COMPANY’S ENTIRE VALUE via a not-so-subtle reminder to investors that “gas-powered trucks provide the profits.” The WSJ columnist waxes the most obvious explanation is that investors don’t see an escape yet from the government’s requirement that GM keep losing billions on electric vehicles the public doesn’t want,” no matter how hard Biden regulators insist must account for 50% of new car sales in just six years.”

The truth can take one's breath away, no pun intended. Concluded Jenkins: “A truism about things that are unsustainable still holds & the Biden plan is certainly unsustainable. The one reliable empirical quantum on which the climate issue rests is the rising CO2 content of the atmosphere. At some point it stands to reason that EV policy will hit the rocks when public realizes trillions spent on subsidies for electric cars & other green tech are having no impact on this quantum.”

Davd Soul