Would that be one of those PATRIOTIC TAXES?

Speaking of taxes - I had to go get the Tesla inspected today.

Texas charged me $25.50 last year for the Infinity, but his year the Tesla was only $7.
Guy said that electrics don't get emission tests - safety only. Enjoy the savings.

🇨🇮

Speaking of taxes!



According to a new Bloomberg report, Rivian has lost 93 percent of its market value since November 2021. The state of Georgia is still on the hook for as much as $1.5 billion in state incentives.

The market for electric vehicles in the U.S. continues to grow: In January 2023, 7.1 percent of all new light-duty vehicles registered were electric, a 74 percent year-over-year increase. During that same period, Tesla's market share dropped from 72 percent to 58 percent, a sign of serious competition in the space.

Unfortunately, not every company is reaping the benefits: According to a report from Bloomberg, market analysts are increasingly skeptical about the future prospects of Rivian, maker of luxury all-electric trucks and SUVs. In the years since its founding, the company has received multi-billion-dollar investments from established firms like Ford and Amazon, and the state of Georgia is giving as much as $1.5 billion in state incentives for Rivian to build a factory there.

Last month, Reason reported that after a successful November 2021 initial public offering (IPO) that saw its balance sheet swell to $18.1 billion in cash and a market cap of more than $150 billion, "Rivian's stock lost 80 percent of its value, making it 2022's worst-performing stock on the NASDAQ 100." Additionally, by December 2022, "Rivian's cash on hand had fallen 36 percent, to $11.6 billion."

According to Bloomberg, the company's market cap "now stands at less than $12 billion after a 93% stock wipeout, reflecting almost no value beyond the company's cash hoard," which it cited as "cash and equivalents of $11.6 billion and debt of $1.6 billion." First-quarter revenue projections "have fallen more than 25% since the end of December." And despite struggling to fill its own orders amid rising interest rates, the company may have to come up with even more cash, and quickly.

Ivana Delevska, chief investment officer at SPEAR Invest, told Bloomberg that Rivian "still needs to invest several billion dollars to prove out its business model." Similarly, Alexander Potter of investment bank Piper Sandler said that while the company "shouldn't abandon its strategy," it would likely need to raise at least $4 billion by 2025 to fund its projected growth.

There's a problem with that: Rivian is required to invest at least $5 billion in its Georgia factory by the end of 2028 in order to qualify for the full $1.5 billion in state incentives. Even under the company's own best estimates, that's a gamble. CEO R.J. Scaringe told The Atlanta Journal-Constitution that the company's future was inextricably tied to the Georgia factory, saying "There's not another option…. This must work." Further, the company doesn't expect to be able to manufacture any vehicles from the Georgia plant until at least 2026.

Rivian's own CFO doesn't expect the company to be profitable until sometime in 2024, and even then, it's not clear that those profits will be enough to make up for the losses the company has already accrued. Meanwhile, the state of Georgia will still have committed hundreds of millions of dollars, or more, in taxpayer-funded incentives.

Americans tend to keep their cars for around 12 years on average. Since the majority of motorists will be in the market within a given decade, electric vehicles are a relatively easy way to introduce clean, climate-friendly technology into widespread usage. And with growing demand in the market, numerous automakers are stepping up to fill that need. But it's important to let the market lead the way forward, not government planners. Unfortunately, Rivian—and Georgia's risky bet on a growth-stage company—may serve as a cautionary tale on central planning.

https://reason.com/2023/05/01/rivian-continues-to-hemorrhage-money-despite-1-5-billion-in-state-incentives/ 

The Three Card Trendy game is playing out in front of your faces. You have to wonder how that $7500.00 rebate upfront squares when you have to replace the batteries and if they'll be available when you need to...and now if the company will even be viable down the "road".

https://www.commonlit.org/en/texts/the-emperor-s-new-clothes

Read up. It turns out magnificently

Mining coal is bad. Drilling for oil is bad.

Mining for copper, cobalt and lithium and stuff... totally cool.

You ever see a ten year old working a drilling rig? Not gonna happen. Now mining cobalt in Africa….job creation!

I heard there's 1.9 jobs available for every American right now... why are we sending kids to Africa..?? 😕

Cuz we want them out of McDonalds!!!

https://www.nbcnews.com/news/us-news/10-year-olds-hundreds-children-found-working-mcdonalds-rcna82583 [/color]

I bet they weren't "McLovin' It"!

Hyundai And Disney team up to insure every last GOP members head explodes... Hyundai teams up with Walt Disney Imagineering for a Disney-inspired IONIQ 5 EV concept

https://electrek.co/2023/04/05/hyundai-and-walt-disney-imagineering-unveil-ioniq-5-ev-concept/ 

The collaboration is in celebration of Disney’s 100th anniversary, with Hyundai unveiling the IONIQ 5 Disney100 Platinum concept at the New York Auto Show on Wednesday.

The limited-edition all-electric SUV features unique Disney-inspired visual accents and entertainment, such as lightning and the iconic Disney music you hear in the background at the parks.
This is the first time that Disney has opened the doors to their design studio and granted access to Disney’s iconic characters for an artistic collaboration with an automaker. The IONIQ 5 is Hyundai’s flagship all-electric vehicle, and we are excited to share a limited edition version that will deliver an unforgettable experience for any Disney fan.

The Hyundai IONIQ 5 Disney100 Platinum concept will include several exclusive features, including:

Gravity gold matte exterior color
Disney-inspired wheel styles
Disney100 exterior badging
Disney100 logo embossed on the front seat headrests and center console
Disney100 logo on the floormats
“Hidden Mickey” custom wheels
Lamp screens with Disney spark animations across the headlights and taillights
Moon roof etching details (with a touch of pixie dust, of course)
Disney-themed intro on the interior screen when entering the vehicle with Disney music, logo, and more pixie dust.
For over 100 years, Disney has been inspiring audiences with timeless storytelling and innovative experiences, Rita Ferro, president of advertising sales at Disney, explains. Ferro added that the new collaboration with Hyundai:

Provided us with a unique way to celebrate our Disney100 anniversary and bring brands closer to the magic we create every day for consumers.

Hyundai says the actual production model may vary and will be available for sale in late 2023 with “extremely limited availability.”

Although the specs could change for the Disney-inspired model, Hyundai’s IONIQ 5 offers an EPA range of up to 303 miles.

Meh... it's a Hyundai. That woke crap ain't going real well for Disney at the moment. Nor AB/Inbev.

Whatever. Useful idiots being exploited.

Joe Biden - #1 useful idiot. He's too stupid to be destroying the country on his own. He's someone's puppet.

The tard's will be lining up for that one for sure. [whip]

"Why yes, I'll take the Hyundai Groomer GT Special Edition. With the White Claw can holders"

You guess the hair color.

[frypan] [frypan] [frypan]

That's Le HockyDad 1
Mad MACS 0

I do have to smile a tooth grin at the Right Wing knuckle draggers how simply cannot understand that the Automotive field is being revolutionized - and greatly for the better.

And for icing on the cake:
"I don't understand mining - must be wrong"
"I don't understand electricity - must be bad"
"Liberals, scientist and scholar say electric cars are good - Ah HA! PROOF they are bad!!!"

What a bunch a maroons.... 😂

The National Highway Traffic Safety Administration (NHTSA) officially start car recalls after receiving complaints from consumers.

A group of Tesla Model S and Model X owners are suing the electric vehicle maker, claiming in a lawsuit filed in California Friday that automatic software updates from Elon Musk's company have killed their electric cars' battery life.

The proposed class-action lawsuit was filed in the U.S. District Court in San Francisco. Plaintiffs claim Tesla's updates and their effects violate federal and state laws because they can cut driving range by up to 20% and have forced some owners to replace their batteries at a cost of $15,000.

The lawsuit argues impacted Tesla vehicles are "protected computers" under the Computer Fraud and Abuse Act, and that automatic updates violate their rights under the law.

"Tesla owners and lessors are uniquely at the mercy of the maker of their cars, and Tesla imposes software updates without consent whenever their vehicle is connected to Wi-Fi," said Steve Berman, an attorney with Hagens Berman representing Tesla owners and lessors in the lawsuit.

Attorneys representing the owners say Tesla sends automatic updates whenever their vehicles are connected to Wi-Fi.

Some Tesla owners have reportedly paid third parties as much as $750 to reverse battery-related software updates, the lawsuit claims.

Tesla did not immediately respond to a request for comment.

According to Telsa's website, the company's vehicles receive regular over-the-air software updates that add new features and enhance existing onces over Wi-Fi.

Tesla owners can change their software update preferences in an options menu on their vehicle's touchscreen, selecting between "ADVANCED" or "STANDARD." The "ADVANCED" option will enable automatic software updates whenever they become available. Updates cannot be canceled once they have started.

The lawsuit accuses Tesla's updates and their impact of violating the Computer Fraud and Abuse Act, the California Unfair Competition Law and the Consumer Legal Remedies Act. Attorneys claim Tesla refuses to reimburse Model S and Model X owners and lessors whose vehicles have reduced battery life after a software update.

In July 2021, Tesla agreed to pay $1.9 million to settle claims a software update temporarily reduced maximum battery voltage in 1,743 Model S sedans, including about $400,000 in attorneys' fees and expenses. Owners of affected vehicles received $625 each, which was "many times the prorated value of the temporarily reduced maximum voltage," according to court documents.

Tesla released its 2022 Impact Report in April, claiming that its batteries only lose about 12% capacity after 200,000 miles. The report used data collected on Model S and Model X battery retention over distance traveled.

The company noted that mileage and battery age are major factors in battery capacity retention and said it plans to expand disclosure on battery life "once we have sufficient data."

https://www.fox7austin.com/news/tesla-owners-sue-claiming-software-update-killed-ev-battery-life 


Wait what????[frypan] [frypan] [frypan]

Another great thing is many of the “options” and how they’re sold and can be held hostage and are withheld after sale. The software patches you buy are kinda nutty IMO on how they are owned.

Sound like they are still in BETA testing. 🤔

You collective heads of knuckle are so far on the wrong side of this that it just makes me smile.
And I thank you for that.


Next month makes a year with the Tesla, and it been great. No issues, dirt cheap to own, and much much faster than you.

But hey, thanks again!

Your apology is accepted.

Remember silent speed can be deadly, maybe more than just the turn signals should be used I think.

Captain SBD

You know that federal law mandated an external speaker on silent EVs that makes warning sound when the vehicle is moving below 20 miles per hour.

And in the case of a Tesla, can also make fart noises.



Hey, again thanks for the laughs.

Oh, you wanted "laughs"...sure.

😁




The big US automakers cannot turn a profit on EVs anytime soon. So guess what...

Massive subsidies and other goodies in the Inflation Reduction Act are not enough to satisfy the United Auto Workers union.

The UAW now seeks a "Just Transition" to EVs. Their new concern is a "race to the bottom" started by Elon Musk.

Question of the Day

How can car manufacturers make money as Tesla cuts prices and the White House and unions demand higher output and wages?

Please consider Elon Musk Squeezes His Electric-Vehicle Competitors

The Inflation Reduction Act includes truckloads of subsidies for electric vehicles, including tax credits for battery makers and consumers. But despite these handouts, traditional automakers still don’t expect to turn a profit on the cars for several years. Ford recently forecast its electric-vehicle division would lose $3 billion this year and committed to getting in the black in 2026.

In the first three months of this year, Ford’s electric vehicles posted a negative 102% operating margin—that is, its losses on electric-vehicles exceeded its sales. Yikes. Ford blamed a battery problem in its much-hyped F-150 Lightning pickup for interrupting production. Even if it weren’t for that, Ford still would have posted a huge loss.

Automakers and the UAW are preparing to begin collective-bargaining over a new national labor agreement this summer. UAW leaders have made clear their goal is to increase wages and benefits at new electric-vehicle battery plants, where workers currently earn about half as much as their counterparts at other factories.

Stellantis recently announced it would offer buyouts to 31,000 hourly employees. Ford last year announced it was laying off 3,000 white-collar and contract employees to finance its electric-vehicle expansion. Automakers will almost certainly have to issue more pink slips, if only because manufacturing electric vehicles requires significantly less labor than gasoline-powered cars.

“The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers,” UAW President Shawn Fain wrote to his members on May 2. “The EV transition is at serious risk of becoming a race to the bottom.”

Mr. Fain is threatening to withhold the union’s endorsement of Mr. Biden unless his administration backs a “just transition” to electric vehicles. Translation: The union wants the White House to wield subsidies and regulation as a cudgel to drive its labor agenda. But all this will do is render automakers less competitive in a race in which they’re starting laps behind Tesla.

The risk isn’t merely that U.S. automakers can’t catch up; it’s that they could crash right out of the gate.

Understanding Tesla's Lead and the UAW's Predicament

Tesla is in front partially because it was first. But it's also in a great position now because of cheap money by the Fed, subsidies on which only it gained, and energy tax credits.

The cheap money, subsidies, and tax credits should not have happened.

Thank the Fed for the cheap money. Thank Biden for the subsidies, regulations, energy credits and the Inflation Reduction Act.

In the push to reduce carbon emissions, Biden handed out tax credits that Tesla could sell at a huge profit to other automakers who could not meet the regulatory requirements that Biden imposed.
Three Things to Expect

The UAW will seek handouts that it gets, not Tesla.

Look for Biden to accuse Tesla of dumping cars because it now makes a profit and the big automakers can't.

Look for Biden to force unionization on Tesla.

This is all in the name of a "Just Transition".

What a hoot.

Everything Biden does adds inflation pressures.

Please note The Inflation Reduction Act Price Jumps From $385 Billion to Over $1 Trillion

Expect more of the same when Biden tries to impose a "just transition".

https://www.zerohedge.com/political/uaw-demands-just-transition-electric-vehicles 


Now, who didn't really see this coming?

BAWHAHAHAHAHAAAA!!!! Trendy McFart Wagon!

Legacy automakers don't deserve much of a break if you ask me.
They have willfully lobbied for lower emission standards, skirted emission laws, and stymied progress for years.
Add to this the date rape of the car dealerships - which are protected by laws.

If they can't compete then they go the way of the dinosaurs. TRUE American capitalisms.