Another EV dumpster fire appears in the works. Volvo said it will no longer prop up money-losing Polestar, the electric-car maker it created with Volvo’s Chinese owner Geely.
As more and more consumers learn that Climate Change is 99.99% as a result of activity on the sun and not human CO2, the auto industry’s pivot to electric vehicles has been rocked by huge losses as a flood of new battery-powered models is hitting showrooms and not selling well.
Earlier this week, French automaker Renault said it has decided to cancel the initial public offering of its electric-car unit Ampere. Ford, meanwhile, has slashed production of its electric F-150 Lightning, because many consumers reject it.
Rental-car firm Hertz has said it was dumping about one-third of its EV rental car fleet, replacing the cars with gas-engine vehicles. Before long they will be dumping the other 2/3rds.