{"id":131166,"date":"2024-11-28T21:31:48","date_gmt":"2024-11-28T14:31:48","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=131166"},"modified":"2024-11-28T21:31:48","modified_gmt":"2024-11-28T14:31:48","slug":"ramaswamy-rivian-6-6b-federal-loan-is-political-shot-at-elon-musk","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=131166","title":{"rendered":"Ramaswamy: Rivian $6.6B Federal Loan Is &#8216;Political Shot&#8217; at Elon Musk"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n                                  <!-- Excluded mobile ad on desktop --><\/p>\n<ul class=\"summary-list\">\n<li>The Biden administration is set to loan Rivian $6.6 billion to finish an EV factory in Georgia.<\/li>\n<li>Vivek Ramaswamy criticized the move as a &#8220;political shot across the bow&#8221; at fellow DOGE boss Elon Musk.<\/li>\n<li>President-elect Donald Trump has tapped Musk and Ramaswamy to help cut government spending.<\/li>\n<\/ul>\n<p><a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/rivian-q3-earnings-call-tariffs-ev-tax-credit-trump-change-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">Rivian<\/a> secured a vital loan from the outgoing Biden administration \u2014 and one of the leaders of <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/doge-government-efficiency-elon-musk-cuts-worry-federal-workers-layoffs-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">DOGE<\/a> isn&#8217;t happy about it.<\/p>\n<p>The Tesla rival was granted a $6.6 billion loan from the Department of Energy to restart construction of a stalled electric vehicle factory in Georgia, which the government said would create 7,500 jobs by 2030.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>Vivek Ramaswamy, who is set to lead the <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">&#8220;Department of Government Efficiency&#8221;<\/a> along with Elon Musk in the second Trump administration, criticized the loan in a post on X.<\/p>\n<p>&#8220;One &#8216;justification&#8217; is the 7,500 jobs it creates, but that implies a cost of $880k\/job which is insane,&#8221; wrote Ramaswamy. &#8220;This smells more like a political shot across the bow at Elon Musk and Tesla.&#8221;<\/p>\n<p>A Department of Energy spokesperson said the Advanced Technology Vehicles Manufacturing Loan Program, which the Rivian deal is part of, reinforced America&#8217;s position as a global automotive powerhouse.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>They said the program also loaned $465 million to Tesla in 2010, which the company repaid early, as evidence of its success.<\/p>\n<p>Musk and Ramaswamy have said they aim to <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/musk-ramaswamy-trump-doge-government-agencies-reform-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">cut about $2 trillion in government spending<\/a> and slash the federal workforce through DOGE, which will not be an official government department.<\/p>\n<p>The pair&#8217;s mandate to &#8220;slash excess regulations&#8221; has raised fears that Musk may be tasked with shaking up regulatory agencies that <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/tesla-faces-fresh-probe-from-safety-watchdog-into-fsd-tech-2024-10\" data-analytics-product-module=\"body_link\" rel=\"noopener\">oversee<\/a> and have <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/elon-musk-spacex-faa-overtime-regulations-2024-9\" data-analytics-product-module=\"body_link\" rel=\"noopener\">frequently clashed<\/a> with his companies.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>The Biden administration has attempted to boost electric vehicle adoption with a series of policies in recent years. They include tax incentives of up to $7,500 for new EVs made in the US, and <a target=\"_blank\" class=\"\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/blog\/2023\/12\/11\/full-charge-the-economics-of-building-a-national-ev-charging-network\/\" data-analytics-product-module=\"body_link\" rel=\"noopener\">$7.5 billion in federal grants<\/a> to build hundreds of thousands of EV chargers by 2030.<\/p>\n<p>Much of that spending is expected to be rolled back under Trump.<\/p>\n<p>The new administration is reportedly <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/why-tesla-elon-musk-supports-trump-ending-ev-tax-credits-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">set to scrap the $7,500 tax credit<\/a>, a move that economist Felix Tintelnott told Business Insider could lower EV sales in the US by up to 27% in the short to medium term.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>The Biden administration is also attempting to finalize funding for infrastructure and the US microchip industry before its term ends. , The Commerce Department said on Tuesday that <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/intel-chips-act-award-grant-biden-administration-semiconductor-trump-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">Intel will receive about $7.9 billion<\/a> in federal grants under the CHIPS Act.<\/p>\n<p>Ramaswamy warned that DOGE will attempt to scrutinize these grants too, criticizing them as &#8220;11th-hour gambits&#8221; in <a target=\"_blank\" class=\"\" href=\"https:\/\/x.com\/VivekGRamaswamy\/status\/1861230568307929378\" data-analytics-product-module=\"body_link\" rel=\"nofollow noopener\">another X post<\/a>.<\/p>\n<p>The Department of Energy did not respond to a request for comment from Business Insider.<\/p>\n<\/p><\/div>\n<p><script>window.allScripts = window.allScripts || []; window.allScripts.push({ type: \"load\", script: \"%3Cscript%20id%3D%22meta-pixel-script%22%3E(()%3D%3E%7Bvar%20e%3D%7B69531%3A()%3D%3E%7Bvar%20e%2Cr%2Cn%2Ct%2Co%2Ci%3Bfunction%20s()%7Bwindow.Fenrir%3F.cm%3F.usPrivacyApplies%26%26%22ACCEPT%22%3D%3D%3Dwindow.Fenrir%3F.cm%3F.userConsent.OPT_OUT%3Ffbq(%22dataProcessingOptions%22%2C%5B%22LDU%22%5D%2C0%2C0)%3Afbq(%22dataProcessingOptions%22%2C%5B%5D)%2Cfbq(%22init%22%2C%221988166924554892%22)%2Cfbq(%22track%22%2C%22PageView%22)%7De%3Dwindow%2Cr%3Ddocument%2Cn%3D%22script%22%2Ce.fbq%7C%7C(t%3De.fbq%3Dfunction()%7Bt.callMethod%3Ft.callMethod.apply(t%2Carguments)%3At.queue.push(arguments)%7D%2Ce._fbq%7C%7C(e._fbq%3Dt)%2Ct.push%3Dt%2Ct.loaded%3D!0%2Ct.version%3D%222.0%22%2Ct.queue%3D%5B%5D%2C(o%3Dr.createElement(n)).async%3D!0%2Co.src%3D%22https%3A%2F%2Fconnect.facebook.net%2Fen_US%2Ffbevents.js%22%2C(i%3Dr.getElementsByTagName(n)%5B0%5D).parentNode.insertBefore(o%2Ci))%2Cwindow.Fenrir%3F.cm%3F.cmStarted%26%26window.Fenrir%3F.cm%3F.userConsent%3Fs()%3AsetTimeout(s%2C1e3)%7D%7D%2Cr%3D%7B%7D%3Bfunction%20n(t)%7Bvar%20o%3Dr%5Bt%5D%3Bif(void%200!%3D%3Do)return%20o.exports%3Bvar%20i%3Dr%5Bt%5D%3D%7Bexports%3A%7B%7D%7D%3Breturn%20e%5Bt%5D(i%2Ci.exports%2Cn)%2Ci.exports%7Dn.m%3De%2Cn.c%3Dr%2Cn.o%3D(e%2Cr)%3D%3EObject.prototype.hasOwnProperty.call(e%2Cr)%2C(()%3D%3E%7Bn.S%3D%7B%7D%3Bvar%20e%3D%7B%7D%2Cr%3D%7B%7D%3Bn.I%3D(t%2Co)%3D%3E%7Bo%7C%7C(o%3D%5B%5D)%3Bvar%20i%3Dr%5Bt%5D%3Bif(i%7C%7C(i%3Dr%5Bt%5D%3D%7B%7D)%2C!(o.indexOf(i)%3E%3D0))%7Bif(o.push(i)%2Ce%5Bt%5D)return%20e%5Bt%5D%3Bn.o(n.S%2Ct)%7C%7C(n.S%5Bt%5D%3D%7B%7D)%3Bn.S%5Bt%5D%3Bvar%20s%3D%5B%5D%3Breturn%20s.length%3Fe%5Bt%5D%3DPromise.all(s).then((()%3D%3Ee%5Bt%5D%3D1))%3Ae%5Bt%5D%3D1%7D%7D%7D)()%3Bn(69531)%7D)()%3B%3C%2Fscript%3E\" });<\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.businessinsider.com\/vivek-ramaswamy-federal-loan-rivian-political-shot-elon-musk-tesla-2024-11\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration is set to loan Rivian $6.6 billion to finish an EV factory in Georgia. Vivek Ramaswamy criticized the move as a &#8220;political shot across the bow&#8221; at &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=131166\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-131166","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=131166"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131166\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=131166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=131166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=131166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}