It’s amazing how such a little car can cause such a big fire–er, firestorm. It’s even more amazing how such a colossal failure can so completely escape the attention of the mainstream media.
Take a listen: I Spy Minute Thurs July 19 2012
Or read the transcript below…
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Seeing how the mainstream media is too busy telling you what a success the Obama bailout has been, here’s a few facts on the Chevy Volt that seems to have escaped their attention:
With all the research (meaning, tax payer dollars) poured into the Volt, it has taken an old technology—the electric battery—and improved it by zero percent.
That’s right. 700 million spent to develop a battery that gets the same range on a full charge as the Morrison battery of 1897.
That’s just the research.
According to newsbusters.com, you can add about another $4 billion in Energy Dept. grants, development money sent to the Korean battery supplier (take that Bain Capital!), tax credits, incentives, and GM’s retooling its plants—all to make a car the Obama administration forced it to build.
In June, GM sold 1,760 Volts but it only nets about $1,000 in profit from each Volt. At its present rate of return, it will take GM 180 years to break even.
Just kinda makes you feel warm all over, doesn’t it? Or maybe that’s just the Volt’s battery catching on fire.