Donald Trump’s designated government efficiency co-czar, Vivek Ramaswamy, signaled his intention to scrutinize a loan granted by the Biden administration to EV manufacturer Rivian, a rival of Tesla.
“Biden is forking over $6.6 billion to EV-maker Rivian to build a Georgia plant they’ve already halted,” he posted on Thursday.
“One ‘justification’ is the 7,500 jobs it creates, but that implies a cost of $880k/job, which is insane.
This smells more like a political shot across the bow at Elon Musk and Tesla.”.
In March, Rivian founder and CEO RJ Scaringe delayed construction to conserve cash.
Indeed the Democratic governor of California conspicuously snubbed Tesla from a new state plan to extend EV subsidies to car buyers.
Tesla repaid an ATVM government loan of roughly half a billion dollars in full with interest nine years early. »