Reuters sources inside Nissan are saying the production of batteries in Tennessee for the all-electric Leaf, which stimulus-subsidizing U.S. taxpayers backed with a $1.4 billion loan, could be eliminated.
According to the report, at minimum there is sharp debate over whether the company will continue to manufacture electric vehicle batteries in-house or contract with an outside supplier. Nissan partner Renault, which has 43.4 percent shareholder ownership in the joint company, is said to be pushing for outsourcing battery production – possibly to LG Chem. None who revealed the information were identified for the Reuters story.
“We set out to be a leader in battery manufacturing but it turned out to be less competitive than we’d wanted,” said a Nissan executive to Reuters, on condition of anonymity. “We’re still between six months and a year behind LG in price-performance terms.”
If they’re really thinking about a move … Read More ➡
Global warming is the current issue that will be forgotten again next week, but while the watermelons demonstrated in New York City where President Obama spoke at the Climate Summit at the United Nations, former Bush (II) Treasury Secretary Henry Paulson ran his mouth at the Clinton Global Initiative’s annual meeting.
A Republican that leftists turn to for a good “enviro-kumbaya” session came through with the rhetoric again this week. Most recently known for his partnership with statists Tom Steyer and Michael Bloomberg in the shame-the-capitalists effort called “Risky Business,” Paulson delivered a financial market parallelism on climate change that any Occupy Wall Streeter would be proud of.
On what seemed to be a randomly assembled panel of non-experts that also included the Rockefeller Foundation’s Judith Rodin and Danish Prime Minister Helle Thorning-Schmidt (famous for the selfies she took with President Obama at Nelson Mandela’s memorial), Paulson … Read More ➡
There was little doubt that once CEO Elon Musk and Tesla announced they would locate their electric vehicle battery “Gigafactory” in Nevada, that Silver State lawmakers would vote in a special legislative session to support targeted tax breaks and incentives – even at the breathtaking amount of $1.3 billion.
Gov. Brian Sandoval, the courter, would have appeared an extreme fool if he didn’t already have the political backing needed for the deal. But there were other mini-surprises: Unanimity at the legislature; four separate bills passed to construct the package; and benefits enjoyed by other industries in Nevada that were rescinded to help with the Tesla payoff.
“This is obviously an historic and exciting day for our great state,” said Democrat state Sen. Justin Jones from Las Vegas.
Just imagine how Nevada lawmakers would feel if they won the heart of a real automobile company, like Texas just did… Read More ➡
Only a year after Tesla Motors and CEO Elon Musk extracted themselves from the $465-million taxpayer stimulus loan that brought critical scrutiny to the company’s performance, the electric automaker has once again put itself under the spotlight that comes with taking government corporate welfare.
Today the company will announce its plans to build a battery manufacturing plant near Reno. The new gambit was the culmination of competition that pitted at least five states against one another for the “privilege” of hosting Tesla’s “Gigafactory” – named so because of the amount of stored power they plan to produce. Cost to build the plant is estimated to be $5 billion, and Musk said he expected the winning bidder to cover at least 10 percent of that, according to the Associated Press. That means at least $500 million in some form of incentives or conciliations from Silver State taxpayers.
The dance … Read More ➡
Billionaire enviro-liberal Tom Steyer should thank his earth-healing, universalist, Less-Than-Supreme Being that the planet’s survival isn’t dependent on his business influence or political expenditures, because they have been massive flops.
Take, for example, “Risky Business,” his venture (along with figureheads Henry Paulson and Michael Bloomberg) introduced in late June to pressure businesses, investors and policymakers to account for vast planning costs for impending global warming effects in their financial reports. Initial media coverage of the contrived project made it appear that it would exert major influence in the corporate world. But while the scheme attempted to show intellectual rigor and nonpartisan analysis, Risky Business was easily revealed to be nothing more than another deeply biased construction to drive a political agenda.
A month after its introduction – accompanied by a New York Times op-ed by Paulson and interviews by Steyer and Bloomberg – and Risky Business … Read More ➡
After three years and $1.4 billion in stimulus subsidies from U.S. taxpayers, you’d think the technology and performance of the all-electric Nissan Leaf would have improved rather than worsened by now.
You’d be wrong.
Whereas once the Leaf enjoyed a favorable review by Consumer Reports (despite an extremely unpleasant test experience by one of its researchers and the identification of several negative features), the magazine has yanked its recommendation. That’s because of the Leaf’s dismal safety performance in crash testing of small cars by the Insurance Institute for Highway Safety, where it received a rating of “poor,” along with three other models.
“Collapse of the occupant compartment is the downfall for four small cars in this group, including the…Leaf,” said Joe Nolan, senior vice president for vehicle research for the IIHS. “A sturdy occupant compartment allows the restraint systems to do their job, absorbing energy and controlling … Read More ➡
It’s been a month since the billionaire triumvirate of Tom Steyer (pictured), Henry Paulson and Michael Bloomberg introduced their ballyhooed Risky Business report on the climate, and after all the op-eds, blog posts and public interviews so far, all that can be said about it is that it is already an empty, meaningless PR campaign upon which the financial hot shots have wasted their money.
There is no there, there.
Logical scrutiny of the project, from its genesis to its outcome, would reveal how deeply flawed and biased it is. Given every contributing factor, there is no other verdict that would have been reached other than “we must all do something about global warming!” Yet the legacy media has treated Risky Business as something that was objectively conceived, and which has delivered perfectly reasonable conclusions. That is to be expected from pack journalists who don’t look beyond the climate crystal … Read More ➡
NLPC has extensively documented how Tesla Motors has taken advantage of market distortions to reap revenues – including government mandates, subsidies, and taxpayer support – not the least of which have been so-called “zero emission credits” from the state of California. But much of the revenue Tesla enjoyed last year – which often meant the difference between profit and loss – was credited based upon theoretical technological capabilities and not ones actually put into practice.
CEO Elon Musk has also relied on accounting gimmicks to enhance his bottom line over the last 18 months, during which a couple of quarterly earnings reports even showed a profit – albeit under non-Generally Accepted Accounting Principles. Those handsome returns were achieved in part thanks to a scheme administered under the California Air Resources Board in which additional zero emission credits are awarded to vehicle manufacturers based upon the ability for models to “fast … Read More ➡
In recent months NLPC reported how Big Labor has vowed to make an aggressive push to “Organize the South,” and has joined the media-amplified “Moral Monday” protests as part of their strategy to infiltrate right-to-work states, especially in North Carolina.
Last week the unions upped the ante. The president of the national American Federation of Government Employees, J. David Cox, and his chief of staff Bryan DeWyngaert, were two of 20 labor organizers and other protesters who were arrested last Monday for failing to leave the N.C. Legislative Building when instructed to do so. In addition, AFL-CIO president Richard Trumka called attention to the Tar Heel state demonstrations.
“North Carolina has quickly become a shining example of a people-driven movement and a microcosm of what’s to come,” Trumka said. “When the labor movement and the entire community band together to stand up for what is right, everyone wins. … Read More ➡
Months have passed since the saga about the fate of Fisker Automotive ended, which was the stimulus-funded electric vehicle flop that always seemed on the verge of bankruptcy but had a long existence as part of the walking dead.
The inevitable finally happened in November, after Fisker’s executives spent many desperate months traveling the world trying to find a buyer for the struggling company. Apparently blunders and stumbles that included fires, recalls and bad reviews for the only model Fisker ever produced – the Karma – made the business untouchable for outside investors.
It all contributed to an unrelenting run of bad publicity connected to the Department of Energy’s toxic loan program, which provided taxpayer-backed funding for several duds, including now-famous Solyndra. Fisker’s collapse cost the U.S. public $139 million, which is inexcusable considering that founder Henrik Fisker and his colleagues burned through at least $1.4 billion and barely … Read More ➡