{"id":131849,"date":"2024-11-30T18:15:52","date_gmt":"2024-11-30T11:15:52","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=131849"},"modified":"2024-11-30T18:15:52","modified_gmt":"2024-11-30T11:15:52","slug":"ramaswamy-pans-rivians-expected-6b-federal-loan-for-georgia-factory","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=131849","title":{"rendered":"Ramaswamy pans Rivian\u2019s expected $6B federal loan for Georgia factory"},"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 data-start-index=\"5\">\n<p class=\"story-text \" data-index=\"6\">Rivian declined a request to comment.<\/p>\n<p class=\"story-text \" data-index=\"7\">Musk emerged as a key donor and political operative for President-elect Donald Trump during the presidential contest against Vice President Kamala Harris. Since the election, Trump has tapped Musk and Ramaswamy for a role in an effort to slash the federal government.<\/p>\n<p class=\"story-text \" data-index=\"8\">Musk\u2019s Tesla was granted a loan from the Department of Energy program in 2010.<\/p>\n<div class=\"c-image-component  b-margin-bottom-d40-m20  image-landscape\" data-index=\"10\">\n<div class=\"image-component-image inline \">\n<div class=\"enlargeImage-wrapper\">\n<div class=\"lazyload-wrapper\"><picture class=\"\" style=\"display:none\"><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/KVZFNM6SUA77ZMQZEXDVWT5PVU.jpg?auth=b5ea8bf1db1ad8af7c02ee4fb71cd6946f92417799d7660ca848495faccd6c74&amp;width=1000&amp;smart=true\" media=\"(min-width: 1200px)\"\/><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/KVZFNM6SUA77ZMQZEXDVWT5PVU.jpg?auth=b5ea8bf1db1ad8af7c02ee4fb71cd6946f92417799d7660ca848495faccd6c74&amp;width=1000&amp;smart=true\" media=\"(min-width: 768px)\"\/><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/resizer\/v2\/KVZFNM6SUA77ZMQZEXDVWT5PVU.jpg?auth=b5ea8bf1db1ad8af7c02ee4fb71cd6946f92417799d7660ca848495faccd6c74&amp;width=600&amp;smart=true\" alt=\"Vivek Ramaswamy speaks at a campaign rally for Donald Trump on Oct. 27, 2024, in New York. (Evan Vucci\/AP)\" fetchpriority=\"auto\" width=\"600\"\/><\/picture><\/div>\n<p class=\"photo-credit-text\">Credit: AP<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/politics\/ramaswamy-pans-rivians-expected-6b-federal-loan-for-georgia-factory\/ZIUPJRGGTJEKVDPYEE4TCBLJDI\/[object Object]\" class=\"image-expand\" alt=\"icon to expand image\"\/><\/div>\n<\/div>\n<p class=\"photo-credit-text\">Credit: AP<\/p>\n<\/div>\n<p class=\"story-text \" data-index=\"12\">In March, California-based Rivian paused the Georgia plant\u2019s construction indefinitely to cut costs and shifted its production of its<b> <\/b>next model, the R2 crossover, to its<b> <\/b>Illinois plant. At the time, Rivian said it still planned to expand production of the R2 in the new Georgia factory and build at least two other future models, the R3 and R3x.<\/p>\n<p class=\"story-text \" data-index=\"13\">But it was unclear when the project would restart.<\/p>\n<p class=\"story-text \" data-index=\"14\">In late 2021, Gov. Brian Kemp recruited Rivian to build the $5 billion factory, where the upstart EV company said it would create 7,500 jobs. At the time, it ranked as Georgia\u2019s largest economic development project, since surpassed by the Hyundai Motor Group\u2019s EV factory near Savannah.<\/p>\n<div class=\"c-image-component  b-margin-bottom-d40-m20  image-landscape\" data-index=\"15\">\n<div class=\"image-component-image inline \">\n<div class=\"enlargeImage-wrapper\">\n<div class=\"lazyload-wrapper\"><picture class=\"\" style=\"display:none\"><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/CLXZXC4XRWZVQINTA3ZZ26HDBQ.jpg?auth=ac261280619834e06167caa6897b1bf200a274c600a94c6b9c96e0956ce25787&amp;width=1000&amp;smart=true\" media=\"(min-width: 1200px)\"\/><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/CLXZXC4XRWZVQINTA3ZZ26HDBQ.jpg?auth=ac261280619834e06167caa6897b1bf200a274c600a94c6b9c96e0956ce25787&amp;width=1000&amp;smart=true\" media=\"(min-width: 768px)\"\/><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/resizer\/v2\/CLXZXC4XRWZVQINTA3ZZ26HDBQ.jpg?auth=ac261280619834e06167caa6897b1bf200a274c600a94c6b9c96e0956ce25787&amp;width=600&amp;smart=true\" alt=\"Gov. Brian Kemp smiles as he stands next to a Rivian electric truck during a ceremony on Dec. 16, 2021, to announce that the electric truck maker plans to build a $5 billion battery and assembly plant east of Atlanta. (John Bazemore\/AP 2021)\" fetchpriority=\"auto\" width=\"600\"\/><\/picture><\/div>\n<p class=\"photo-credit-text\">Credit: John Bazemore\/AP<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/politics\/ramaswamy-pans-rivians-expected-6b-federal-loan-for-georgia-factory\/ZIUPJRGGTJEKVDPYEE4TCBLJDI\/[object Object]\" class=\"image-expand\" alt=\"icon to expand image\"\/><\/div>\n<\/div>\n<p class=\"photo-credit-text\">Credit: John Bazemore\/AP<\/p>\n<\/div>\n<p class=\"story-text \" data-index=\"16\">But the Rivian project stalled as the electric vehicle company struggled to reach profitability.<\/p>\n<p class=\"story-text \" data-index=\"19\">About two months ago, before the election, Rivian\u2019s application for the loan became public, though it was likely in progress for months before then.<\/p>\n<section class=\"c-interstitialLink b-margin-bottom-d40-m20\"><span class=\"prefix\">Explore<\/span><a class=\"headline\" href=\"https:\/\/ajc.com\/politics\/rivian-loan-highlights-tough-spot-for-kemp-on-green-energy-incentives\/OZ5LW67JSRGXBEK2LNXYVIUHL4\/\" target=\"_self\" rel=\"noopener\">Biden\u2019s Rivian lifeline highlights tough spot for Kemp on green energy incentives<\/a><\/section>\n<p class=\"story-text \" data-index=\"21\">Rivian said the Georgia factory will be 9 million square feet and able to produce up to 400,000 vehicles by 2032.<\/p>\n<div class=\"c-image-component  b-margin-bottom-d40-m20  image-landscape\" data-index=\"22\">\n<div class=\"image-component-image inline \">\n<div class=\"enlargeImage-wrapper\">\n<div class=\"lazyload-wrapper\"><picture class=\"\" style=\"display:none\"><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/MSUYPN6LBVNQEKQHWIE5T26I7E.jpg?auth=1325d0081a95d7e61b720b8bec56fa96a4438efd2bdb51095ebe1f9c5b90c066&amp;width=1000&amp;smart=true\" media=\"(min-width: 1200px)\"\/><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/MSUYPN6LBVNQEKQHWIE5T26I7E.jpg?auth=1325d0081a95d7e61b720b8bec56fa96a4438efd2bdb51095ebe1f9c5b90c066&amp;width=1000&amp;smart=true\" media=\"(min-width: 768px)\"\/><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/resizer\/v2\/MSUYPN6LBVNQEKQHWIE5T26I7E.jpg?auth=1325d0081a95d7e61b720b8bec56fa96a4438efd2bdb51095ebe1f9c5b90c066&amp;width=600&amp;smart=true\" alt=\"An aerial perspective of the Rivian factory site is shown in Georgia's Walton and Morgan counties on March 19. (Miguel Martinez\/AJC 2024)\" fetchpriority=\"auto\" width=\"600\"\/><\/picture><\/div>\n<p class=\"photo-credit-text\">Credit: TNS<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/politics\/ramaswamy-pans-rivians-expected-6b-federal-loan-for-georgia-factory\/ZIUPJRGGTJEKVDPYEE4TCBLJDI\/[object Object]\" class=\"image-expand\" alt=\"icon to expand image\"\/><\/div>\n<\/div>\n<p class=\"photo-credit-text\">Credit: TNS<\/p>\n<\/div>\n<p class=\"story-text \" data-index=\"23\">The R2 is estimated to start at $42,000, according to the loan programs office, which would make the model eligible for a $7,500 tax break through the Inflation Reduction Act. The bill is part of a push from Democrats and President Joe Biden to incentivize EVs. Currently, most Rivian models do not qualify for the tax credit.<\/p>\n<p class=\"story-text \" data-index=\"24\">Trump selected Ramaswamy and Musk to run the unofficial federal agency, the Department of Government Efficiency, or DOGE, during Trump\u2019s second term.<\/p>\n<div class=\"c-image-component  b-margin-bottom-d40-m20  image-landscape\" data-index=\"26\">\n<div class=\"image-component-image inline \">\n<div class=\"enlargeImage-wrapper\">\n<div class=\"lazyload-wrapper\"><picture class=\"\" style=\"display:none\"><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/BWQBUSQ5XZJUOJNUSQW4S2I74Y.jpg?auth=e6b9d6851cf06801ded049213786c0252494fed47429d1971bb4a773b09b3b78&amp;width=1000&amp;smart=true\" media=\"(min-width: 1200px)\"\/><source srcset=\"https:\/\/www.ajc.com\/resizer\/v2\/BWQBUSQ5XZJUOJNUSQW4S2I74Y.jpg?auth=e6b9d6851cf06801ded049213786c0252494fed47429d1971bb4a773b09b3b78&amp;width=1000&amp;smart=true\" media=\"(min-width: 768px)\"\/><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/resizer\/v2\/BWQBUSQ5XZJUOJNUSQW4S2I74Y.jpg?auth=e6b9d6851cf06801ded049213786c0252494fed47429d1971bb4a773b09b3b78&amp;width=600&amp;smart=true\" alt=\"Tesla CEO Elon Musk threw his support behind Donald Trump during a campaign rally on Oct. 27, 2024, in New York. (Evan Vucci\/AP)\" fetchpriority=\"auto\" width=\"600\"\/><\/picture><\/div>\n<p class=\"photo-credit-text\">Credit: AP<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.ajc.com\/politics\/ramaswamy-pans-rivians-expected-6b-federal-loan-for-georgia-factory\/ZIUPJRGGTJEKVDPYEE4TCBLJDI\/[object Object]\" class=\"image-expand\" alt=\"icon to expand image\"\/><\/div>\n<\/div>\n<p class=\"photo-credit-text\">Credit: AP<\/p>\n<\/div>\n<p class=\"story-text \" data-index=\"27\">The duo said they aim to cut up to $2 trillion in government spending and slash excess regulations.<\/p>\n<p class=\"story-text \" data-index=\"28\">Trump has<a href=\"https:\/\/www.ajc.com\/news\/business\/trump-reportedly-plans-to-end-ev-tax-credits-whats-the-georgia-impact\/XAUI5QY2ORDPRFC3FWZ5QWOVVM\/\"> criticized federal incentives<\/a> to bring EV manufacturing to the U.S. and promised to roll some of them back during his second term.<\/p>\n<p class=\"story-text \" data-index=\"29\">Cox Enterprises, which owns The Atlanta Journal-Constitution, also owns about a 3% stake in Rivian.<\/p>\n<\/div>\n<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<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.ajc.com\/politics\/ramaswamy-pans-rivians-expected-6b-federal-loan-for-georgia-factory\/ZIUPJRGGTJEKVDPYEE4TCBLJDI\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rivian declined a request to comment. Musk emerged as a key donor and political operative for President-elect Donald Trump during the presidential contest against Vice President Kamala Harris. Since the &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=131849\" 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-131849","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131849","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=131849"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131849\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=131849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=131849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=131849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}