Trump Administration Lashes Out At General Motors: Wants To End EV, Green Energy Subsidies But Does GM Care?
US President Donald Trump seems to be in an anger fit with the recent events, judging from his tweet that came as a reply to General Motors’ announcement made last week. For those unaware, the American auto giant (GM) has decided to shut down five of its production facilities in North America and consequently fire up to 15,000 workers. It has also announced the discontinuation of some of its cars.
Bummer. But what appeared next on Trump’s Twitter account was clearly an indication that this was only the beginning.
The POTUS tweeted: “We are now looking at cutting all @GM subsidies, including….for electric cars” among other things, which mostly expressed his disappointment on the move.
Surely enough, it hasn’t been much more than a week and the White House economic adviser Larry Kudlow has come up with the official response to the situation. As per his statement on Monday, the Trump administration now wants to end subsidies for electric cars and other items, including renewable energy sources by as soon as 2020-21.
Makes sense. Maybe something had to be done about GM’s harsh move and to prevent anything like this from happening in the future. What does not make sense though, is the fact that GM might not even care about this. Why? In very simple terms, the company has almost reached its subsidy threshold for electric cars anyway.