Elon Musk SAID THAT ‘GM will Go Bankrupt Soon & I won’t Save Them’

Elon Musk SAID THAT ‘GM will Go Bankrupt Soon & I won’t Save Them’

#generalmotors #gm #elonmusk

General Motors, at one point one of the largest automakers in the United States is struggling to sell its cars and in turn balance its books and it looks like the company now has taken on a feud with rivals Tesla which is owned by billionaire CEO Elon Musk. So what did General motors do to stop Elon musk from helping them? Lets find out in this video

Now it looks like Elon Musk has a grudge against tesla and for the right reasons. You see GM is a personal favorite of the American government and you'll soon see why.

Back in 2009 just a year after the global financial crisis, GM was in its worst ever situation. The company declared bankruptcy but was luckily bailed out by the government. The government decided to pump funds into GM who had accumulated over 80 billon $ in losses over the course of 4 years. By 2103, the government had released nearly 50 billion $ to GM. This however wasn't the end of their struggles. In an interview with CNBC , CEO Mary Barra talked about the challenges GM was facing. She revealed how the company faces production snags at every corner. They keep dealing with issues time and time again. The company now deals with issues on a weekly basis and are hoping that it will get better next year. The companies second quarter sales dropped 50% due to production and supply issues which has increased from the 40% fall during the 2nd half of last year. In 2021 Toyota outsold GM in the American market making did the first time the legacy automaker hasn't led us sales. This was another sign that the company struggled to retain its status. Despite GM's challenges to remain relevant, the US government shows full support to the efforts made by the company. Now , Elon musk isn't happy with the attention GM is receiving from the US government despite its woes.

In 2021, GM was primed to be the first to receive the bulk of a 1 billion $ corporate handout program. In July , the US Department of Energy gave a 2.5 billion $ loan to GM's joint project with LG energy to construct new lithium ion battery cell manufacturing facilities. With so many incentives which is clearly favoring GM, its fair to say they are making their vehicles at almost no cost. And as if thwt appreciation wasn't evident enough, Joe Biden, president of the United States openly congratulated GM for electrifying the entire automotive industry. He praised GM once again at the State of the Union Summit in March. Musk, who is clearly frustrated with all the attention GM is getting called out the government's love for GM , despite the company's sub par track record in terms of electric vehicles.

Now, Elon musk doesn't love talking about his rivals in order to avoid giving them publicity but he feels respect needs to be given where it is due. He noted that the UAW exerted so much control over Biden in the white House that it was enough for Tesla to be excluded from the EV summit.

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[rodenel]

The problem with GM, they don't listen to their customers, wrong person at the needs to go ASAP

[scmu]

GM is full of itself and is no longer a leader.

[Skeptik]

Given time unions collectively bargain their jobs away. Ask me how I know. Look around your house or office, can you find anything made in America?

[jsimon]

I was through with GM when Obama gave the union the stock.

[ez]

Put a women in charge and watch things go to shit.

[bwz]

I would like to see GM pay. Back the 80 billion dollars they owe. Us as taxpayers.why do we continue to buy out. Businesses that are failing, without failure nothing. Ever moves forward I don't think tesla has anything to worry about GM can't make quality petrol cars. Much less.EVs

[iangillougley]

This is reminiscent of the British government bailing out Leyland in the 70's & we all know what happened to the British auto industry.

[OverlandTT]

20 seconds in... Elon has a grudge against Tesla?

[TahoeJones]

Musk can make better batteries is a given. He will.
Upgrading our power grid makes him an advisor. ☹️
Hopefully they will listen to a proven success.

[glassdan]

GM will never overtake Tesla, I've never even overtaken Ford, apparently not Toyota either

[leegray]

They get their sorry asses bailed out from the government up here in Canada as well and owe a lot of money from it ! They will get bailed out again you can bet on it and we the people will be on the hook for it as usual !

[georgevue]

It would have been cheaper to give every GM employee $1Million dollars/each & shut the place down than to bail it out.

[mohamedfarid]

Mary barra manager of GM vs Elon manager of Space x

[whyey]

GM is junk I was a gm mechanic until 2000 when they made junk

[waynedavis]

With 65%, it would be hard to say Musk doesn't know how to do EV? Keep in mind the government gives most advantages to GM and Ford the union EV makers, so Musk is doing alright.

[dollface]

put awoman in charge andsee what happens if its not a kitchen or house shit falls apart

[DaveDayCAE]

This was a total waste of time. Nothing new, no added value at all.

[truepatriot]

If they want do better. Make better vehicles that are innovative.

[darinthesecularspiritualist]

we dont have the money to bail gm out this time. gm is bye bye

[crazedgoldminner]

The economy will get better when Donald Trump's in office and it'll take about a year to recover then people will have jobs and money to buy new cars again as far as GM goes they failed once they feel twice if they can't get somebody there like Ian must have run the place and just I hate to see all those jobs lost but that's what happened the automotive industry before