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EV Companies Are Careening Toward Bankruptcy

We’ve said it many times on these pages: if you want to kill an industry, have the government subsidize it.

You’d have thought the greens would have learned this lesson by now with three decades of hundreds of billions of dollars of wind and solar energy handouts. Yet the renewable energy sector is still nowhere near profitability and has made up almost no ground in replacing fossil fuels anywhere in the world least of all the U.S.

Now we have the government running the same game plan with EVs. The feds have plowed billions of dollars into EV factories. Many states and the federal government are setting dates that would require all new cars to be EVs. The feds and the states are spending billions more dollars on EV charging stations. You get a $7,500 check from Uncle Sam if you buy an EV.

Yet despite this mountain of freebies to juice EV sales, the Wall Street Journal reports that four of the most touted EV startups have all crashed this year.

The WSJ also points out that of 43 EV company startups, only FOUR have a positive cash flow.

Biden and the progressives keep calling government spending and corporate welfare programs “investments.” Someone please inform Joe that the government doesn’t “invest,” it mal-invests.

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