All-electric automaker Rivian Automotive announced on Monday that it received a “conditional commitment” for a $6.6B loan from the U.S. Department of Energy.
If finalized, the loan would be used to aid in the construction of a $5B Rivian plant just outside Atlanta, Georgia.
Politicians from both sides of the aisle were quick to react to the announcement of additional funding going to what they’ve labeled a “failing company.”
“Biden is forking over $6.6B to EV-maker Rivian to build a Georgia plant they’ve already halted,” said Vivek Ramaswamy, who will be leading President-Elect Donald Trump’s new Department of Government Efficiency, along with Elon Musk, CEO of X and Tesla Motors. “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.”
