this post was submitted on 14 Jun 2024
143 points (98.6% liked)

Automotive Industry

360 readers
1 users here now

News and discussion about the automotive industry.

founded 1 year ago
MODERATORS
copacetic@discuss.tchncs.de
143
GM had $6 billion to spend on EVs, chose stock buybacks (electrek.co)
submitted 4 months ago by sabreW4K3@lazysoci.al to c/automotive@discuss.tchncs.de
14 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] OpticalMoose@discuss.tchncs.de 37 points 4 months ago (2 children)

Fun fact: The US Gov't never broke even on that bailout https://www.nbcnews.com/businessmain/u-s-exits-gm-stake-taxpayers-lose-10-5-billion-2D11716261

[–] BearOfaTime@lemm.ee 19 points 4 months ago* (last edited 4 months ago)

Of course not.

Just like Cash for Clunkers only lined the pockets of auto manufacturers.

You can't make more of something and somehow reduce energy and materials consumption.

[–] TachyonTele@lemm.ee 6 points 4 months ago (2 children)

Was it supposed to? The government isn't a company.

[–] nehal3m@sh.itjust.works 6 points 4 months ago

Exactly so they shouldn’t have bailed anyone out in the first place.

[–] PunnyName@lemmy.world 0 points 4 months ago

Um. Always has been [a business].