The international Left are trying to shove the “green” agenda down everyone’s throat.
But people are resisting the programming.
And Joe Biden’s electric vehicle agenda just got kicked in the teeth.
Joe Biden and the Democrats are aggressively pushing a radical environmentalist agenda.
A big component of the “green” initiative is producing a fleet of electric vehicles.
However, despite all of the propaganda, the demand for Bidenmobiles is not meeting the supply.
EV company files for bankruptcy
That’s why EV manufacturer Fisker just went belly-up.
Reuters reported that “Fisker filed for bankruptcy protection late on Monday, as the U.S. electric-vehicle maker looks to salvage its operations by selling assets and restructuring its debt after burning through cash in an attempt to ramp up production of its Ocean SUVs.”
Fisker is one of several companies that have gone under as a result of soft demand.
Reuters added that the “hyper-competitive EV market has seen several companies, including Proterra, Lordstown and Electric Last Mile Solutions, file for bankruptcy in the past two years as they grappled with weakening demand, fundraising hurdles and operational challenges from global supply chain issues.”
Major automakers like Ford and GM have also scaled back production on their electric vehicles because of the lack of interest.
Another problem with EVs is that the secondary market is almost nonexistent.
Consumers do not want to buy used EVs.
Henrik Fisker, company founder and former design consultant for Tesla, explained, “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently.”
Fisker scrapped its direct-to-consumer business model that was the hallmark of Tesla and switched to a dealership-based distribution model, but it still could not clear its inventory of 5,000 cars.
Garrett Nelson, vice president and equity analyst at CFRA Research, said, “Fisker has been on life support for months now, so today’s announcement doesn’t come as a surprise. It wasn’t the first EV upstart to declare bankruptcy and we don’t think it’ll be the last.”
Propped up by the government
Back when Joe Biden was Vice President, he oversaw the Obama stimulus program, and Fisker—along with the failed boondoggle Solyndra—was one of the companies that was propped up.
Breitbart News previously reported that “Biden promised that $529 million in new Department of Energy loan guarantees to Fisker Automotive to produce electric cars in Delaware would provide ‘billions of dollars in good, new jobs.’ Four years later, Fisker filed for bankruptcy — without producing a single car in the U.S.”
No matter how much the Left push EVs on people, they are not desired in significant numbers.
Without the subsidies, the EV market would be even softer.
Not only are they expensive, people experience range anxiety due to the lack of charging stations.
And billions of taxpayer dollars are going into EV infrastructure projects.
There’s also the problem of EVs requiring a large carbon footprint to be manufactured.
And one study showed that the added weight of EVs causes them to produce more particulates when drivers hit the brakes.
Stay tuned to Unmuzzled News for any updates to this ongoing story.
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Author: rg_jb
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