Biden-backed electric vehicle company files for bankruptcy - Another Biden failure

We're totally fucked, aren't we?

Electric cars are too inconvenient,
while petrol-powered Bentleys and Ferraris cost too much.

The world may as well end now.

Poor NiftyNitWit. Still stuck on moron. :laugh:

Absurdity; the last desperate refuge for the ignorant, the dishonest and the stupid.
 
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Another troll fail for you, TinkerBitch.

:eyeroll:
 
I'm sure that they managed to hold onto enough of our money to retire comfortably, as well as donate to the Sleaze-o-crats. just like the Demthugs of Solyndra....
 
Electric cars are widely accepted as the future of the automotive industry

but there are still some key limitations with the current generation of battery technology that limits their appeal to consumers. Two of the biggest issues are range and charging times, but Toyota claims a breakthrough in its development of solid-state batteries could solve both of those issues in one. According to the brand, the new technology should reduce the weight and size of batteries by around 50% while significantly slashing costs.
When the tech does make it to production cars, the brand claims ranges of 745 miles and charging times of under 10 minutes would be possible. The Japanese automaker previously reported that it was looking to bring solid-state batteries to customer cars as soon as 2025.

MAGA soils diapers
 
We've seen this before during the Biden reign of error with Solyndra. Government should NEVER be in the business of picking or choosing economic winners in a free market economy. EVER.

Democrats appear to find it impossible to learn from their mistakes or remember history.

Biden-backed electric vehicle company files for bankruptcy

President Biden frequently extolled an electric vehicle company — in which his energy secretary heavily invested — before it declared bankruptcy on Monday.

Bay Area-based electric bus and battery maker Proterra filed for Chapter 11, with CEO Gareth Joyce citing “various market and macroeconomic headwinds that have impacted our ability to efficiently scale.”

The EV firm, which sold more than 1,300 electric buses to public transit systems in the US and Canada, was valued at $1.6 billion when Biden, 80, took office in January 2021 — but closed with a market value of $362 million, according to Reuters.

In 2021, the president pledged more than $10 billion from his $1.9 trillion bipartisan infrastructure plan toward zero-emission transit and school bus programs.

He has promoted Proterra several times since taking office, and once virtually toured a facility.


https://nypost.com/2023/08/08/biden-backed-electric-vehicle-company-files-for-bankruptcy/

And Joe Capitalist pisses his pants.
 
Literally burning money at the Alter of the Church of the Greater Greta, The Latter Day Warmers... we are forced to participate in this religious experience because we keep running idiots and dementia patients for the most powerful position in the western world...
 
Literally burning money at the Alter of the Church of the Greater Greta, The Latter Day Warmers... we are forced to participate in this religious experience because we keep running idiots and dementia patients for the most powerful position in the western world...

Amen
 
We've seen this before during the Biden reign of error with Solyndra. Government should NEVER be in the business of picking or choosing economic winners in a free market economy. EVER.

Democrats appear to find it impossible to learn from their mistakes or remember history.

Biden-backed electric vehicle company files for bankruptcy

President Biden frequently extolled an electric vehicle company — in which his energy secretary heavily invested — before it declared bankruptcy on Monday.

Bay Area-based electric bus and battery maker Proterra filed for Chapter 11, with CEO Gareth Joyce citing “various market and macroeconomic headwinds that have impacted our ability to efficiently scale.”

The EV firm, which sold more than 1,300 electric buses to public transit systems in the US and Canada, was valued at $1.6 billion when Biden, 80, took office in January 2021 — but closed with a market value of $362 million, according to Reuters.

In 2021, the president pledged more than $10 billion from his $1.9 trillion bipartisan infrastructure plan toward zero-emission transit and school bus programs.

He has promoted Proterra several times since taking office, and once virtually toured a facility.


https://nypost.com/2023/08/08/biden-backed-electric-vehicle-company-files-for-bankruptcy/


No doubt the Biden mob shorted Proterra before it crashed.
 
No doubt the Biden mob shorted Proterra before it crashed.

We know some of the execs sold their shares prior to announcing.

At the time of the tour, Energy Secretary Jennifer Granholm held between $1 million and $5 million in stock of the electric vehicle company, The Washington Free Beacon reported, prompting ethics concerns and calls for her divestment.

Granholm raked in $1.6 million in profit after selling hundreds of thousands of shares in May 2021, months after she had first pledged to do so. She served on Proterra’s board from February 2017 until just before her Senate confirmation hearing in January 2021.
 
We know some of the execs sold their shares prior to announcing.

At the time of the tour, Energy Secretary Jennifer Granholm held between $1 million and $5 million in stock of the electric vehicle company, The Washington Free Beacon reported, prompting ethics concerns and calls for her divestment.

Granholm raked in $1.6 million in profit after selling hundreds of thousands of shares in May 2021, months after she had first pledged to do so. She served on Proterra’s board from February 2017 until just before her Senate confirmation hearing in January 2021.

This is the reality - 90% of what Washington does is manipulate markets to line their own pockets. The Republicans as just as bad as the democrats. This is why principles fly out the window the second a Republican get to DC. All that free money, there for the taking. They control the factors that make industries rise and fall. They control the laws that govern trades and shorts.

This is why Congress will never really do anything about Bought and Paid For Biden - they are all in on it. Trump was the ONLY one not in the game, that's why they as so obsessed with destroying him.
 
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