“That $2 billion in new investment Volkswagen has to make, that’s not investment in their own electric car projects, that’s direct investment in infrastructure for everyone.”
Elizabeth Cabraser, the lead counsel for the Plaintiffs’ Steering Committee in the Volkswagen emissions litigation, explains that VW’s has to invest in others’ low-emission technologies in order to make up for the low-emission rates it promised but couldn’t deliver.
“Tesla burns cash. It’s not a car company, it’s a cult of fanatics who think Elon Musk can do no wrong. But financially, it doesn’t work.”
Bob Lutz, former GM chairman, doesn’t believe that Tesla will still exist 20 years from now. He compared the carmaker to socialism, implying that it runs on public funds and will seize to exits once the money runs out. He is clearly missing the point.
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