Rivian Secures $6.6B Federal Loan for Georgia EV Factory Amid Scrutiny
TL;DR Summary
Vivek Ramaswamy criticized the Biden administration's anticipated $6 billion federal loan for Rivian's electric vehicle plant in Georgia, suggesting it targets Elon Musk and Tesla. The loan, intended to create 7,500 jobs, is still pending approval. Rivian paused construction of the plant to cut costs, shifting production to Illinois. The project, initially Georgia's largest economic development, has stalled as Rivian struggles with profitability. The loan aligns with Biden's push for EV incentives, though most Rivian models currently don't qualify for tax credits.
- Vivek Ramaswamy pans Rivian’s expected $6B federal loan for Georgia factory The Atlanta Journal Constitution
- Elon Musk’s DOGE partner Vivek Ramaswamy says they’ll scrutinize $6.6 billion Biden loan to Tesla rival Rivian Fortune
- Biden administration seeking to finalize $6.6B loan to build EV factory before term ends Fox News
- Rivian Earns $6.6 Billion Loan from Feds for Manufacturing Facility Car and Driver
- Community reacts to federal loan given to Rivian to revive stalled Georgia plant project 11Alive.com WXIA
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Read on The Atlanta Journal Constitution