▲ 39 ▼ The American E.V. Has Been Crushed. Will It Take the U.S. Auto Industry With It? (www.nytimes.com) submitted 3 months ago by silence7@slrpnk.net to c/electricvehicles@slrpnk.net 9 comments fedilink hide all child comments The largest U.S. automakers have backed away from electric vehicles, even as global sales are booming. The decision may make them obsolete.
[–] MyOpinion@lemmy.today 26 points 3 months ago (2 children) US auto makers will fail and I refuse to bail them out. permalink fedilink source hideshow 2 child comments replies: [–] Lemmyoutofhere@lemmy.ca 33 points 3 months ago You think you have a choice? permalink fedilink source parent [–] sparkyshocks@lemmy.zip 4 points 3 months ago The 2009 bailouts weren't of the companies or their management. Shareholders were wiped out, and the internal divisions were sold off for parts (somewhat famously, GMAC, the financing arm of GM, became independent as Ally Bank). The bailouts were to make the newly reorganized entities actually make good on warranties with customers and the collective bargaining agreements with their workers. That's how bailouts are supposed to work. Save the other side of the transaction from the failures of the deadbeat company, and then wipe out the actual owners. permalink fedilink source parent
[–] Lemmyoutofhere@lemmy.ca 33 points 3 months ago You think you have a choice? permalink fedilink source parent
[–] sparkyshocks@lemmy.zip 4 points 3 months ago The 2009 bailouts weren't of the companies or their management. Shareholders were wiped out, and the internal divisions were sold off for parts (somewhat famously, GMAC, the financing arm of GM, became independent as Ally Bank). The bailouts were to make the newly reorganized entities actually make good on warranties with customers and the collective bargaining agreements with their workers. That's how bailouts are supposed to work. Save the other side of the transaction from the failures of the deadbeat company, and then wipe out the actual owners. permalink fedilink source parent