GM’s Electric Vehicle MELTDOWN

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 The green dream just hit a brick wall. In this episode:

• General Motors writes down $1.6 billion in electric vehicle losses
• The collapse of Biden’s EV subsidies and why the “all-electric by 2035” fantasy is dead
• How Washington’s woke mandates forced automakers to waste billions chasing an impossible goal
• Why Pete Buttigieg’s $7.5 billion charging station plan built almost nothing
• And how government interference turned once-great American car companies into corporate hostages

Chris breaks down how the “green revolution” became a government-fueled disaster—and why the free market would’ve built something that actually works.

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Empathy for the automakers. Again, it's hard to get empathy, Vorna,
hard to get feel bad for companies that have gotten
bailed out by the taxpayer. But I've said it before
here on the program. Our government, our government has really
done a number, really done a number on American automakers.

(00:40):
Here is another CI told you so a moment here
on the program. General Motors is going to be taking
a one point six billion, one point six billion dollar
charge on right downs on evs. Has said that the

(01:01):
end of government funded subsidies and regulatory mandates that pushed
them into electric cars, they're going away and they're not
going to sell them, and the entire idea of in itself,
you know, are going to be completely electric by twenty

(01:21):
what was it, twenty thirty five. I'm like, no, you're not, No,
you're not. It doesn't add up. We talked about how
they were putting the cart before the horse, and we
don't have the charging stations. We don't have the electrical capacity.
People aren't gonna, you know, all of a sudden decide
they're gonna want to all buy these cars. Allows you

(01:42):
seventy five hundred dollars credit helps, but it's nonsensical. This
is not going to work. And again, GM spent billions
of dollars on this technology. They back in twenty twenty one.
If you remember, GM said they were going to commit

(02:03):
thirty five billion dollars on evs. Yeah, yeah, model, new models,
EV battery development, converting traditional auto factories into EV plants. Again,

(02:24):
over over. There's not even cafe standards before. I've made
fun of these things years ago. Keep reason a cafe
standards on cars. Okay, so you're making these cars more expensive,
more expensive, you're not making them as nice. The interiors
are crap. It was just one thing after another where

(02:47):
the government gets involved in the private sector. The reality,
the reality is is that companies will by design look
to make cars more efficient if you just let them,
because they're looking to compete against one another. That just happens.

(03:10):
That is going to happen. You don't have to tell
them to do that. They're going to do that. But
then you start telling them that they have to go electric.
All of this woke green dreams. You think about, You
think about all of the billions of dollars flushed down

(03:31):
the toilet. Yeah, GM CEO Mary Bearra. Again, it's twenty
twenty five right now. She said this in twenty twenty one,
that the company planned to have an all electric lineup
by twenty thirty five. And some of these things, I

(03:57):
mean here in America, you know, with the with the
SUVs and the pickup trucks and all of this stuff.
It doesn't it didn't make any sense whatsoever. And not
that again, I've said this before. I don't have anything
any problem with electric vehicles. I think they're fine. I
think that they are a great niche product. They are.

(04:22):
They're great, And he's probably listen, I don't people love them.
They do some amazing things. I think that some of
the Tesla technology is fantastic, but it's not for everyone.
I gave this the example before. Good buddy of mine
he got himself a Rivian.

Speaker 1 (04:42):
He loved it.

Speaker 2 (04:45):
Ev high end electrics, expensive Rivian that's all sorts of
bells and whistles, all this stuff. He got rid of it. Well,
he loved it. Why did he get rid of it? Well,
you know, his kids are all graduated from college now
and he and his wife are going to be visiting them.
They wanted to be gone the road longer. And it's

(05:06):
just too much of a painted a butt to find
charging stations and everything that goes along with that. Again,
that's an issue. That's an issue. You have to let
the market decide as soon as you start seeing so, oh,

(05:27):
you know we're going to have to you know, we're
going to put up all of east Remember Pete Buddha Jagon,
the billions of dollars we spent on chargers around the country.
None of them went up. None of them went up.
And you know, you would think you would think that,
you know, geez, you know, people buying electric vehicles, Why

(05:47):
why aren't these various different fueling stations and roadside rest
areas along I ninety five and various highways around the country.
Why aren't they jumping all on board and actually build
holding these things out themselves because they're gonna lose money.

(06:07):
They're going to lose money, so they're not going to
do it. And government always likes to put a square
peg in a round hole. Step the hell away and
let the market decide. Just that simple. Stop subsidizing anything,

(06:33):
stop picking and choosing winners and losers. What we've done
to American auto manufacturers, it's a sin, what we have done,
telling them what to make, how they're going to do things.
You know, basically Luca Brasi making them an offer, and
I can't refuse. And I'm as far as the CEO's

(06:56):
of these automakers for crying out loud again week. I
would have I would have rather resigned. I would have said,
you know sorry, I would have I would have held
a press conference. I'm not gonna run a company. I'm
not gonna run a company where the people in Washington,
DC are gonna tell me what to do, people that
have ever built anything, nor created anything at all. I'm

(07:17):
not gonna do it. Goodbye, take a stand anyway. Yeah,
and this is just the beginning. Okay, this is one
point six billion. That's just a start in the losses
that General Motor is going to take, Ford is going

(07:38):
to take. They're all going to have to take. So
wonder they could get together and actually sue the federal
government watchdog on Wall Street dot com