Detroit 3 Now Ask Government For $500 Million To Develop Battery Technology

Critics of the first auto bailout kept saying that the Big Three would keep coming back to D.C. with their hands out looking for more handouts. They were right. This is why you can't partially nationalize the automakers. They have to stand on their own feet and become competitive on their own, not through begging.

Expect more special project funding as soon as the full magnitude of just how far behind Detroit is actually.

Keep coming back eh?

Stop with the nonsense. Had the government been run properly (and Wall st been regulated properly), detroit would never have had to ask for any help. If you can't see this....... well come one now.

Secondly---- With all the absurd fuel economy and GHG rules that have already been passed or are going to be passed, the government SHOULD be funding these efforts. How the hell is the government going to pass some ridiculous legislation that is going to cost billions upon billions, and then expect the automakers to foot the bill?

All we've done in the past few years is go from a messed up republican government to a messed up, "great green idea", liberal government.


Sorry folks, either way you look at it, once the democrats have their chance, we'll all be driving the cars THEY want us to drive (little crappy Civics and Priuses). You can give the big3 50 billion in free money, but in the end, they're going to come back for more. This is b/c the stupid liberals in California & elsewhere are forcing them to build expensive cars that no one wants---- and the only way to get them to sell is to offer them at a massive loss.

You tell me why GM was selling Chevy S10 pickups at near rock bottom prices a few years ago. Better yet, I'll tell you why.... b/c sales of big SUV's and trucks made the average fuel economy low, so GM HAD to essentially give away higher mileage "trucks" that qualified for flex fuel credits. Now is this BS or is this BS?

Firstly,

You really can't make the capitalism argument.... free-market went to the crapper once the government started mandating ridiculous fuel economy standards (as well as some of the emissions standrads).

Second, battery suppliers, as well as other automotive suppliers are applying for financial aid to do these projects. Everyone is trying to get money, why wouldn't they?

If the big 3 haven't yet began to invest in battery technology then they shouldn't even be allowed to be in business

Cappy, its called economics.

Private industry in the U.S. will be unable to stand on its own two feet if it is being perpetually subsidized (aka propped up) by the government. GM, F, and Chrysler will never become succesful and independent companies if they continue to have a government life line.

well,

if the vocal minority of liberal tree huggers would get off the automaker's asses via ridiculous legislation, then your argument might have some credibility.

On the same token, had the government not been so criminal in its regulating of Wall St. (starting in the Clinton years), Detroit wouldn't be in this mess at all. And while we're at it, lets not forget that Detroit isn't alone in this mess, Toyota, Honda and everyone else is hurting thanks to congressional stupidity and wall st. greed.

Also, if the government doesn't take appropriate steps to do certain things, then America is going down the tubes. We will be another 3rd world nation with a few ultra rich people and masses of poor. The rich will own some of the mega corporations that are based in asia and the poor will scrounge for scraps.

@ Cappy

You cannot compare banks to the auto industry. Not even close.

Considering there is a lot more consequence(s) with the failure of banking giants, it was vital to provide them with a "bailout."

Detroit is a product of their own incompetence.

This is a great move and US Auto makers are not the only Auto companies to benefit from their prospective Govt's. As long as this is cost effective then I am for it. None of us have inside info to know the impact of this issue.

Not surprising at all.

Think this is bad? It will only continue.

sometimes government just has to step in. sometimes waiting for the free market to solve problems can be a disaster. had we waited for free market and privat business to put people to work during the great depression, instead of government creating millions of manufacturing jobs to make stuff for the war, we might still be in the same great depression.

electric cars are the future. the Detroit idiots have fallen behind Japan big time in this technology. Few years from now when price of oil is back up over $100 a barrel and Japs are offering affordable electric/plug in hybrid cars, detroit could be facing bankrupcy once again if they don't catch up fast.

@ BSBB

Thank you, you just saved me a lot of typing.

Plus, Detroit has been producing products, which are below par at best, for 20+ years. Now, they have begun to create solid products and unfortunately it may be too late.