The government doesn’t grow the economy or anything and shouldn’t pick winners and losers. They’re bad at it.
Proterra, the electric bus company that Biden continually celebrated, is a case in point. They filed for bankruptcy on Monday, blaming various market βheadwindsβ for its financial struggles.
The California-based company filed a voluntary Chapter 11 reorganization under the U.S. Bankruptcy Code in the District of Delaware to βstrengthen its financial position.β
Proterra said it would continue to operate its business as normal. They will continue to pay employee salaries and benefits and compensate vendors and suppliers during the process, Fox News reports.
The firm assembles electric buses from its South Carolina facility, where Biden received a virtual tour in 2021.
In February, Biden also announced CEO Joyceβs appointment to the White Houseβs Export Council, which advises on matters of overseas trade.
The Biden administration celebrated Joyceβs appointment and hailed the CEO for βgrowing Proterraβs EV battery manufacturing footprint in the United States and accelerating the transition of transit and other commercial vehicles to zero-emission solutions,β Just the News reports.
Great. Biden picked a real winner.
Kamala and Bidenβs golden boy just filed for bankruptcy. Taxpayers were funding Proterra, Americaβs biggest electric bus company, and now the moneyβs missing. The whole thing was a political pump and dump scheme and top Democrats were all involved. pic.twitter.com/ZPzTgDMn2S
— Jesse Watters (@JesseBWatters) August 9, 2023