The creepy little VOLT will be known as the car with batteries that go on fire, the heater that doesn’t heat, the luggage compartment that is full of batteries, and so much more.
What it will be best known for is the cost. It is a $40,000 basic car on a $12,000 dinky body with huge electric car tax subsidies even though it’s a hybrid and not a real electric car. It also has cost the taxpayers $50,000 to 250,000 per creepy car depending on which of the multiple subsidies are involved.
Oh, and by the way, you know the battery fires that were allegedly the fault of everyone else? Well, Government Motors is close to having a fix for that. If they didn’t have a problem, why do they need a fix??? Read here: The GM Truth Division
(MICHIGAN CAPITOL CONFIDENTIAL) – Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy.
Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle. Hohman included in his analysis 18 government deals that included loans, rebates, grants and tax credits. The amount of government assistance does not include the fact that General Motors is currently 26 percent owned by the federal government.
The Volt is subsidized by multiple companies on its way to production. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General Motors, but other companies supplying parts for the vehicle. For example, the Department of Energy awarded a $105.9 million grant to the GM Brownstown plant that assembles the batteries. The company was also awarded approximately $106 million for its Hamtramck assembly plant in state credits to retain jobs. The company that supplies the Volt’s batteries, Compact Power, was awarded up to $100 million in refundable battery credits. These are among many of the subsidies and tax credits for the vehicle.
It’s very unlikely all the companies involved in the production of the Volt would ever receive all the $3 billion in incentives, Hohman said. But the analysis looks at the total value that has been offered to the Volt in different aspects of production – from the assembly line to the dealerships to the battery manufacturers. The tax credits and subsidies are offered for periods up to 20 years, though the majority is offered over a much shorter time frame.
GM has estimated they’ve sold 6,000 Volts so far. That would mean each of the 6,000 Volts sold would be subsidized between $50,000 and $250,000, depending on how many government subsidies were realized. Reprinted from: Michigan Capitol Confidential.
The dealers are scamming the subsidies for the Volt. Yes, electric car subsidies are a bad idea.