A sharp-eyed reporter for the US TV network ABC spotted that the chief executives of Ford, General Motors and Chrysler all flew by individual private jet to last month’s Congressional hearing at which they ‘pleaded poverty’ and asked for $25 billion of cheap loans.
Brian Ross put the anomaly to GM’s head Rick Wagoner, who said he needed to fly by private jet because of meetings earlier that day. Ross was able to prove Wagoner could have attended his meetings and still flown on a scheduled flight costing $900 for a first-class ticket, instead of the estimated $20 000 round trip on the private jet. Despite this, Congress still approved $15bn, to come from money originally intended for fuel efficiency.
Uphold the European Green Deal
The Commission must champion the Green Deal as a strategy for hope, resilience and fairness. Now is the moment to lead with courage – and to invest in...
But going back on the 2035 zero-emissions target and deploying no industrial strategy could instead see loss of 1 million auto jobs.
A new study models the impact of EU electric vehicle leadership and ambitious policies on investment and jobs.