Three of the biggest producers of electric vehicles are reportedly set to pump the brakes on production, citing a bad economy and higher interest rates thanks to Joe Biden’s bad economic policies. Tesla, General Motors, and Ford all have said they plan to sIow production essentially until the economy shows some signs of settling down.
Tesla CEO Elon Musk joined General Motors and Ford in voicing concerns that high-interest rates on car purchases would prevent borrowers from securing financing for expensive eIectric vehicles. Musk said, People hesitate to buy a new car if there’s uncertainty in the economy. I don’t want to be going into top speed into uncertainty.
Musk aIso is planning to take a wait-and-see approach to the economy before ramping up the planned Tesla factory in Mexico. Musk’s comments came after poor quarterly results across the board. Not only were Tesla’s sales down, but so were earnings per share and vehicle production.
General Motors, for their part, has plans to delay production of the electric Silverado and GMC Sierra pickup trucks by a year, citing flattening demand for the electrified vehicIes. Over at Ford Motors, they are cutting one of the three shifts that currently builds the electric F-150 Lightning pickup truck. The automaker made this decision following a summer where they took some of the focus off of electric, instead looking toward commercial fleet vehicles and hybrids.
Stacey Abrams Humiliated By Another Crushing Blow, She Just Got Awful News
A mountain of debt at the voting rights organization of Stacey Abrams has resuIted in dozens of layoffs as the former Democratic gubernatorial candidate and election denier struggles to keep her pet project afloat. News of Abrams’ plight, first reported by the Atlanta Constitution-Journal, comes as Fair Fight, founded in the wake of her 2018 loss, faces a restructuring of its $2.5 million in debt. Finance records indicate Fair Fight has just $1.9 million in cash on hand.
Lauren Groh-Wargo, a top aide to Abrams during her second run for governor in 2021, said in an interview she will be returning to manage the cuts, which amount to between 25 and 75 percent of all staff.
The Iayoffs, approved by the group’s board, will decimate a liberal organization that arguably delivered two U.S. Senate seats for Democrats and helped President Joe Biden narrowly win Georgia in 2020. Fair Fight has raised more than $100 million since its inception.
Much of the group’s financial bIeed can be attributed to protracted legal battles. After True the Vote, a conservative voter organization, attempted in 2020 to throw out 250,000 voter registrations, Fair Fight pursued a court battle for more than three years.
Last week a federal court ruled against Fair Fight. A second case against the state of Georgia over absentee ballot restrictions resulted in a Ioss and an order to pay the state back $231,000 in legal costs.
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