Featured $1 Billion G'vmt loan to EVgo for charging infrastructure

Hopefully this doesn't turn into another solar company disaster loan. Obama administration I believe or was it Bush; trying to retain jobs in the region? The company shuttered within 3-6 months of government loan approval.

Hey, go big or go home. I'm sure management staff raked it in.....

 

Hummm, $1B for non-Tesla chargers:

• 1/2 NASA SLS or Starship mission cost
• 10 SpaceX space missions cost

Bob Wilson

 

gotta love the new math, remembering when that phrase was first introduced to grade school ( eu equivalent primary school ) students during the 1960's in the US. Time marches on as the ole saying goes.

 

People who run businesses successfully are WAY smarter than government bureaucrats. If building and running EV charging stations were profitable, we'd see the all over the place.
But they are not, and the popularity of EVs is way, way down....I read somewhere that 90% of EV owners in California are saying they won't buy one again.
Hybrids are superior to the EVs, in just about every area and I don't remember see any news reports to hybrid owners to NOT park inside a garage because they might burn your house down!

 

Yep, we had a house burn to the ground not an hours drive from my house. The guy had a Audi EV parked in his garage and it caught on fire...firefighters took all day trying to get it out and ended up dragging it out of the garage before they could extinguish it.....house was totally gone.

 

That's because that same 90% is under either PG&E or Southern Edison. They're paying highway robbery rates for electricity. As I stated in another post; assuming 4 miles/KwH breakeven for Ca gas usage is around $0.40KwH (using 50 mpg, I'm getting on my Prime) - most are paying more, just to charge at home and if they need to go to a public charger $$$ and wasted time. Add to that additional cost of an EV along with high fuel operational cost = poor financial choice. If your part of the upper 10%, you can probably afford it and feel good about cleaning up the environment.

Just my 2-cents.....

PS - Gen1 Bolt. They all got new batteries and at a reasonable price on Hertz car sales web site. FWIW

 

how does a company like evgo make money? do they have other sources like tesla?

 

IMHO: They scam Wall street, local-, state-, and federal- government; label themselves as pioneers and wrap themselves in the American flag. The same thing all high tech companies do - that either crash & burn or take-off. This is just a low tech business, wrapped in a high tech slick salesman suit.
From what I've seen, they are the most expensive and most of the time, the ONLY charging station around. Reviews indicate that they are in ill repair and deliver slower KwH than advertised. No P:E ratio, since they're bleeding cash @ -$0.40/share, on today's MSN money site.
Again; IMHO - they need to adopt a gas station style convenience store model or team-up/partner with Starbucks to break-even or make money. The more vertical integration, the higher profit potential.They've got a captive audience for at least 20-30 minutes - wasted potential....

Just my 2-cents....

 

How can the US Government possibly loan our money?
What Money?
They are $35,711,389,661,998 in debt and can barely pay the interest on their debt. Talk about irresponsible

U.S. National Debt Clock : Real Time (usdebtclock.org)

 

Tesla used the Model S motor controller for the first SuperChargers. So Tesla got double use of the same hardware. In contrast, the dedicated EV charging companies have no EV electronics to tap. Small wonder they struggle with expensive hardware, buggy software, poor service, and drive their customers to SuperChargers.

Bob Wilson

 

Tax those making over $300,000 a year at the same rate we tax those making less. Bill Clinton did and we had a surplus that the younger Bush frittered away:

1. Eliminate the FICA minimum - funds Social Security forever
2. Allow Medicare eligibility to start at 18 and age advance one year each year
3. Add drugs to Medicare part B and authorize to negotiate prices
4. Tax deductions age out of existence every 5 years and must be set and approved by Congress
5. Tariffs must be set and approved by Congress

Bob Wilson

 

You need way more ideas in the time it took you to post that the debt advanced this much:

$35,711,540,682,346
- $35,711,389,661,998
__________________
=$151,020,348


By the time you answer this the debt will have risen even more as well as the interest due.

 

Use what worked, Bill Clinton tax rates.

Bob Wilson

 

In the time it took you to post that the debt went up by

$35,711,600,250,999
-$35,711,389,661,998
__________________
=$211,589,001

You need way more ideas the interest rate is rising, and the debt isn't being paid just some of the interest
By the time you answer this the debt will have risen even more: I'll be reporting how much more.

 

I prefer fixing problems. Bill Clinton did it before, time to go back to his tax code.

Bob Wilson

 

We have a problem Houston - an unexpected situation
Biden Cancels $4.5 Billion in Student Debt as Courts Consider Legality of Loan Forgiveness (msn.com)
Someone has got to pay that debt it's money already spent.

The debt has risen this much in the time it took you to post
$35,711,650,999,999
-$35,711,600,250,999
___________________
=$50,749,000

You've solved nothing the debt is still rising just faster now with the recent news!

 

Slight correction. The incremental improvement in EV popularity is down. There are more EVs on the road today last any prior year.

Mike