Joe Biden has spent billions of American tax dollars to push his version of the “Green New Deal.” It appears he banked his reputation as president on forcing America to switch to alternative green technology.
He is especially driven to shut down the fossil fuel industry. He has tried to coerce Americans into buying electric vehicles.
But his plans have not been working out. EVs are expensive and unattractive to consumers—especially as inflation makes basic needs too pricey. Car makers betted on Biden’s scheme, and lost big. Now, a major EV maker is making a move that suggests Biden’s green dreams are dead.
Electric vehicle (EV) manufacturer Rivian announced its second round of layoffs just this year on Wednesday as consumer demand for EVs stalls.
The layoffs at Rivian will affect around 1% of the company’s staff as they continue to look for ways to cut costs to bolster struggling profits due to less-than-expected EV sales, the company confirmed to the Daily Caller News Foundation. Rivian announced in February that it was laying off 10% of its workforce after it released its 2024 production forecast, which was well below analyst expectations, according to Reuters. [Source: Daily Caller]
Rivian, a leading electric car maker, cut 6% of its staff in July 2022 and another 6% in 2023. Now, it is announcing another round of layoffs, after its 2024 production forecast revealed that analysts’ predictions were way off.
Sales of electric vehicles is plummeting, in light of many factors. Electric vehicles looked attractive to those wealthy enough to afford them, especially since Biden was promising a $7,000 tax credit.
But the average American refused to bite, partly because EVs are much more expensive. Add to that the fact that they are costly to maintain and lack the range of a gas-powered car. Given the dire economic position of many Americans, thanks to Bidenomics, few were willing to risk buying an EV when they couldn’t afford to buy a cheeseburger.
Rivian is just one of many car makers regretting getting in bed with the Biden administration. Ford Motors, arguably the biggest car manufacturer in the U.S., took in on the chin with their hastily made, poor-performing electric cars and trucks. They lost billions thinking Biden’s plans would pan out.
Despite this, the Biden administration has not admitted its defeat. Biden continues to hold America’s fossil fuel industry hostage—as energy prices are only rising.
Author: Kit Fargo
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