I would love to see the reference you have for those numbers. Money approved is not money spent. Especially when those subsidies have been killed.

You might want to glance and see which one of the subsidies your looking at are even still in place and not projections. Most have been canceled for years now.

> The US subsidized its EV industry with about $120B over the last 15 years

Not with loans to scrappy startups, but with subsidies to buyers that were just pocketed as margin by oligarchs.