Posted on 12/03/2024 3:42:25 AM PST by Adder
General Motors is selling its stake in a large-scale electric vehicle battery factory that company officials once promised would help make Michigan the “epicenter” of the EV industry.
The Detroit automaker announced Monday that it has reached a non-binding agreement to sell its share of the nearly completed Ultium Cells LLC battery plant in Delta Township, just west of Lansing.
When the deal concludes, the factory will be owned and operated by GM’s joint venture partner in the property, South Korea-based LG Energy Solution.
(Excerpt) Read more at bridgemi.com ...
$186 mil in subsidies...
Socialize the risks and privatize the profits.
Fascism.
Michigan has spent $1 billion in corporate incentives and pledged hundreds of millions more for major electric-vehicle and battery projects that so far have created about 200 jobs, a Bridge Michigan analysis has found.
The payouts are a key plank in Gov. Gretchen Whitmer’s platform to make Michigan a leader as the auto industry transitions from combustible engines. But as EV sales underperform and the industry faces an uncertain future, Michigan has few guarantees the projects will follow through on job-creation promises.
Michigan’s stake in the EV transformation includes $1 billion already spent on five subsidy awards, including Ford Motor Co.’s battery plant in Marshall. So far, the projects have created fewer than 200 jobs. Payback for the taxpayer-funded incentives could take longer than expected due to slower-than-expected sales growth
What happens when the EPA is on the “wrong” side of the shakedown?
My neighbor, a classic car aficionado says his Tesla truck is the best car he has ever owned. Zero to 60 in a few seconds, quiet, fast, fun to drive. The only drawback is the time to recharge.
So, bottom line, for road trips, people still need gas powered vehicles. For tooling around town, ev will do. In a free society, government is not going to be able to mandate evs.
Butt, butt, butt......per one of their ads, ‘You can wake up every morning to a fully charged car.”. Yup! Ready to take on the world. As long as its not more than 250 miles or so. Or the power didn’t blip during the night. Or you’ve just been through some climate event leaving you without power for weeks. Or......... Great for some folks, others, not so much.
“ transitions from combustible engines “
My 1980 VW Rabbit had a combustible engine. Fire department had to put it out.
LG - the dishwasher people?
These have to come down in price. But my ideal can would be a plug in hybrid with a battery range of 50-70 miles. A simple plug in.... into a common 220 volt outlet should charge it up at night. Over let’s say an 8-10 hour charging time.
LOL!!
220v outlets are not that common outside of kitchens and laundry rooms. I’ve had to install them in my garages over the years. We put up a shop on our property and made sure there were plenty of 220 outlets from the get-go.
My table saw and air compressor both run on 220.
“These have to come down in price. But my ideal can would be a plug in hybrid with a battery range of 50-70 miles. A simple plug in.... into a common 220 volt outlet should charge it up at night. Over let’s say an 8-10 hour charging”
This.
maybe something too this deal?
Paula Gardener is an expert in these matters. She just received an honorable mention from the Society of Environmental Journalists following her 5 day, 1000 mile journey, with two of her besties, around Lake Michigan, in a rented EV.
What would normally take just an hour of planning took these gals a week. There’s no word on how long the entire sojourn around the lake actually took.
https://www.bridgemi.com/quality-life/bridge-taking-michigan-road-trip-ev-come-along-ride
EC
This sounds to me like GM is beginning to back off from the EV crusade that FedGov insisted all US auto manufacturers participate in. High EV prices, low trade-in value, eye-popping TCO all are making EVs very expensive toys for the well-to-do only. The folks that want EVs and can afford them already have them so the market in cratering.
Sounds like I need to buy one of those 50 mile cars for my wife. She likes to shop in a town 50 miles from here. Being there for 24 hrs on a shopping trip would make the house peaceful for a day.
The only drawback is the time to recharge.“
That’s a good one. It’s not the only drawback, oh no that one barely makes the list.
This sounds to me like GM is beginning to back off from the EV crusade“
The GM CEO is a DEI woman and a global warming true believer but the massive EV losses is killing them and the Trump train is heading down the tracks.
“220v outlets are not that common outside of kitchens and laundry rooms. I’ve had to install them in my garages over the years. We put up a shop on our property and made sure there were plenty of 220 outlets from the get-go.”
Either do it yourself or pay someone to extend 220V outlet to the garage. To charge your plug-in hybrid. It will still be lots cheaper than a full-blown charging station (about $2000) that you need for EVs.
Batteries in plug-in hybrids are roughly 20-25% the weight, storage capacity, and range of EV batteries.
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