This is what happens when the government “invests.” In a free market, capital flows to good ideas that appeal to the public. But when the government invests, capital flows to political ideas which often don’t have a lot in common with what the public actually wants or needs. Nothing is more emblematic of the industry’s troubles than the Fisker Karma. In 2010, Fisker got a $529 million taxpayer loan to build a luxury electric sports car....I don’t think Americans have a bias against the concept of electric cars. I think they have a bias against cars that don’t work very well and/or aren’t very practical. Most electric cars are really just hybrids that you can plug in. They all run on gas, eventually, and the miles-per-gallon ratings aren’t really all that much of an improvement over what you can get from the more fuel efficient gas-only vehicles which also have a much lower price tag.
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