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EV startup Chanje had an ahead-of-its-time plan to sell electric vans to the likes of FedEx, Ryder, even Amazon. But the founder’s curious management style, and turmoil at its Chinese parent company, led to a remarkable collapse with lots of collateral damage.
Electric Trucks Market Becoming ‘Red Hot’, Explore Giants Move | Zenith Motors, Navistar, Tesla
Electric Trucks Market Becoming ‘Red Hot’, Explore Giants Move | Zenith Motors, Navistar, Tesla
Company here to discuss. sometimes innovation costs money. they have not turned a profit. you have to stick to it. >> wait a minute. the government thinks it can pick winners and make money. well here's another example that it cannot. smith electric has lost $30 million of your money, taxpayer o get out s gone. there and create electric vehicles for municipal governments. they created a few and the jobs they were supposed to create cost $414,000 of your money per job created which has now been lost. >> is this what they meant by the tight cash flow situation that they quoted. >> double speak f...
The economic angle today. >> reporter: welcome to this setting we found in kansas city. just to my right is smith electric. it's a police that makes electric batteries for large delivery trucks. your coco cola, pepsi truck, cable trucks, those kind of electric batteries are now supported by the recovery act. president obama is going to come here and talk about how the initial infusion of stimulus cash plus the investment that initial investment leveraged created jobs in a green economy. he's going to have a fund-raiser. to put those jobless claim numbers in context, yes they h-r down 21,000 fr...