The electric vehicle industry is in shambles. I’ve already documented the many problems going on at Tesla but let’s take a quick look at Rivian. They just lost $1.45 billion last quarter.
Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability https://t.co/P0QtmNOGxT
— TechCrunch (@TechCrunch) May 7, 2024
This entire American EV industry is just one massive scam surviving off of corporate welfare payments from the government.
The fat Jew Illinois Governor JB Pritzer just gave Rivian almost a billion dollars in taxpayer money to expand their facility in Illinois.
.@GovPritzker promised @Rivian $827M in subsidies when he shouldn’t have the given the company a penny.
Rivian had no choice but to invest in IL and the #EV maker's financial situation is precarious. Via @Wirepointshttps://t.co/wPojL480cs #twill #GreenEnergy #ElectricVehicles
— Wirepoints (@Wirepoints) May 10, 2024
Failed EV company Rivian will continue to fail no matter how much money JB Pritzker throws its way pic.twitter.com/zY3OSrkPtD
— Zagonel (@Zagonel85) May 2, 2024
Five days after Pritzker gave Rivian $827 million in tax subsidies, Rivian announced they lost $38,784 on every EV they sold last quarter.
— Jeanne Ives (@JeanneIves) May 9, 2024
One can only imagine what sort of corrupt deals were involved with all that.
In the current economic environment, nobody can afford these expensive EVs and they are nowhere near as useful as regular gas and diesel vehicles. The industry is doomed. Many jobs will be lost as this scam implodes on itself.
