US Boosts EV Battery Production with $7.5B in Federal Loans
TL;DR Summary
Vivek Ramaswamy, appointed to lead the Department of Government Efficiency (DOGE) alongside Elon Musk, announced plans to scrutinize federal loans to Tesla rivals Stellantis and Rivian. The Biden administration's recent approval of loans for battery factories and an EV plant has sparked criticism from Ramaswamy, who labeled the loans as "illegitimate" and called for their rescission. Concerns arise over potential interference by Musk, who supports cutting EV tax incentives that could disadvantage Tesla's competitors. DOGE aims to reduce government spending and workforce.
- Vivek Ramaswamy says DOGE will 'carefully scrutinize' federal loans to Tesla rivals Business Insider
- LPO Announces Conditional Commitment to StarPlus Energy to Construct Lithium-Ion Battery Factories in Indiana Energy.gov
- Biden Offers $7.5 Billion for Samsung SDI-Stellantis Battery Hub Bloomberg
- Stellantis and Samsung Will Get $7 Billion to Build Battery Factories The New York Times
- US Department of Energy commits $7.54 billion loan for EV production in Kokomo Yahoo! Voices
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