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Author Topic: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door  (Read 475 times)

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Offline rangerrebew

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Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« on: January 18, 2025, 06:48:00 am »

Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
Story by Owen Klinsky • 17h


The Biden administration cut a multi-billion dollar check for struggling electric vehicle (EV) maker Rivian Thursday, just days before President-elect Donald Trump’s inauguration.

The carmaker hemorrhaged cash in 2024 amid a widespread slackening in demand for EVs, losing roughly $4 billion in the first three quarters of 2024 alone. Now, lame duck President Joe Biden’s Department of Energy (DOE) has tossed the struggling company a $6.57 billion loan to finance the construction of a manufacturing plant in Stanton Springs North, Georgia, according to a DOE press release.
 
“This loan will help us accelerate the launch of our Georgia plant for R2 [SUV] and R3 [crossover], providing thousands of jobs in the state,” Rivian Founder and CEO RJ Scaringe said in a Thursday statement announcing the loan’s finalization. “People are incredibly excited to get behind the wheel of our new models, and this additional capacity for our mass market products is key to U.S. leadership in the electric vehicle industry.”

https://www.msn.com/en-us/money/companies/biden-admin-cuts-failing-ev-company-a-fat-check-on-its-way-out-the-door/ar-AA1xow53?ocid=widgetonlockscreen&cvid=bd6b74ac84294eedae61548ca1f684a5&ei=124
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Offline rangerrebew

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #1 on: January 18, 2025, 06:49:33 am »


RIVIAN ----------->   8888mistltoe :mauslaff:  :laughingdog:  :happyhappy:  88finger point
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Online mountaineer

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #2 on: January 18, 2025, 10:27:03 am »
Ian Jaeger
@IanJaeger29
JUST IN: The Biden Administration gives a last second $6.6 Billion loan to Rivan Automotive for construction of an Electric Vehicle factory.
$6.6 Billion loan is unbelievable.
8:30 PM · Jan 17, 2025

James Higgins
@JamesEHiggins
.@Rivian sold approximately 51,000 vehicles in 2024. So a $6,600,000,000.00 "loan" is a taxpayer subsidy of approximately $130,000 per vehicle sold last year.
Nice work if you can get it.
12:56 AM · Jan 18, 2025

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The abnormal is not the normal just because it is prevalent.
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Offline libertybele

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #3 on: January 18, 2025, 10:42:28 am »
Quote from: mountaineer on January 18, 2025, 10:27:03 am
Ian Jaeger
@IanJaeger29
JUST IN: The Biden Administration gives a last second $6.6 Billion loan to Rivan Automotive for construction of an Electric Vehicle factory.
$6.6 Billion loan is unbelievable.
8:30 PM · Jan 17, 2025

James Higgins
@JamesEHiggins
.@Rivian sold approximately 51,000 vehicles in 2024. So a $6,600,000,000.00 "loan" is a taxpayer subsidy of approximately $130,000 per vehicle sold last year.
Nice work if you can get it.
12:56 AM · Jan 18, 2025

He's gone in 2 days!!!!!!!!   happy77 
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Offline PeteS in CA

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #4 on: January 18, 2025, 10:57:07 am »
LIEden's Solyndra.

How many farmers would take an EV "pickup" to their field a mile or three from any charger trusting the claimed battery capacity? How many contractors would similarly trust the claimed battery capacity? Rivian's and Tesla's "trucks" are frou-frou-mobiles for virtue-signaling gadgeterian city-dwellers.
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I am not and never have been a leftist.

If, as anti-Covid-vaxxers claim, https://www.poynter.org/fact-checking/2021/robert-f-kennedy-jr-said-the-covid-19-vaccine-is-the-deadliest-vaccine-ever-made-thats-not-true/ , https://gospelnewsnetwork.org/2021/11/23/covid-shots-are-the-deadliest-vaccines-in-medical-history/ , The Vaccine is deadly, where in the US have Pfizer and Moderna hidden the millions of bodies of those who died of "vaccine injury"?

Millions now living should have died. Anti-Covid-Vaxxer ghouls hardest hit.

Offline PeteS in CA

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #5 on: January 18, 2025, 10:58:29 am »
Quote from: libertybele on January 18, 2025, 10:42:28 am
He's gone in 2 days!!!!!!!!   happy77

Unfortunately, so will the $6.6B.
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I am not and never have been a leftist.

If, as anti-Covid-vaxxers claim, https://www.poynter.org/fact-checking/2021/robert-f-kennedy-jr-said-the-covid-19-vaccine-is-the-deadliest-vaccine-ever-made-thats-not-true/ , https://gospelnewsnetwork.org/2021/11/23/covid-shots-are-the-deadliest-vaccines-in-medical-history/ , The Vaccine is deadly, where in the US have Pfizer and Moderna hidden the millions of bodies of those who died of "vaccine injury"?

Millions now living should have died. Anti-Covid-Vaxxer ghouls hardest hit.

Online IsailedawayfromFR

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #6 on: January 18, 2025, 07:05:47 pm »
Quote from: PeteS in CA on January 18, 2025, 10:58:29 am
Unfortunately, so will the $6.6B.
follow the $ and you will the criminal.
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“You will never understand bureaucracies until you understand that for bureaucrats procedure is everything and outcomes are nothing.” Thomas Sowell

Online mountaineer

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #7 on: January 18, 2025, 07:07:35 pm »
Did Hunter just get a seat on Rivian's board?
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The abnormal is not the normal just because it is prevalent.
Roger Kimball, in a talk at Hillsdale College, 1/29/25

Offline libertybele

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #8 on: January 18, 2025, 07:14:16 pm »
Quote from: PeteS in CA on January 18, 2025, 10:58:29 am
Unfortunately, so will the $6.6B.

True.  Hopefully with any luck we'll start to see some fiscal restraint. Musk says he can save this country trillions of dollars.  We'll see.
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Offline Hoodat

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Re: Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door
« Reply #9 on: January 18, 2025, 08:25:10 pm »
The original cost of this plant was $5 billion.  The State of Georgia has already ponied up $1.5 billion from its own taxpayers.  And now the Federal Government added another $6.6 billion on top of that to cover a $3.5 deficit?  Oh, and when they initially applied for government money, they did so under the promise that they would be using the plant to manufacture their R2 line of vehicles.  Yet that production has been moved to Illinois instead.

Rivian is a scam.  This $6.6 billion will never be recovered, nor will the $1.5 billion of Georgia money.  If by some miracle this plant ever gets built, it will be completely shuddered within five years.  And Brian Kemp should be driven out of office for his role in it.
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