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Author Topic: Fate of Rivian’s $6.6 billion federal loan—secured in the dying hours of the Biden administration—no  (Read 236 times)

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Offline rangerrebew

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Fate of Rivian’s $6.6 billion federal loan—secured in the dying hours of the Biden administration—no
« on: February 20, 2025, 07:01:48 am »

Fate of Rivian’s $6.6 billion federal loan—secured in the dying hours of the Biden administration—now hangs in the balance
Story by Christiaan Hetzner • 18h

Georgia Gov. Brian Kemp said he didn’t know whether the Trump administration would honor the contracts of the Biden administration in a warning delivered right before Rivian’s key Q4 results. If the loan is canceled, Tesla CEO Elon Musk stands to benefit the most.
 
Rivian’s most ambitious investment project to date could be at risk, after Georgia Gov. Brian Kemp warned disbursement of a $6.6 billion U.S. federal loan had been put on hold.

The automaker secured the financing through a dedicated Department of Energy program in the dying days of the Biden administration. The funds are needed to erect a manufacturing plant that can build its next-generation R2 electric cars at scale.
 
To date, the most famous recipient of the DOE program’s funding is Tesla. Even though the conditions attached can be onerous—CEO Elon Musk chose to repay his as early as possible—that didn’t stop the Trump transition team from pledging to investigate the deal.   

https://www.msn.com/en-us/money/companies/fate-of-rivian-s-6-6-billion-federal-loan-secured-in-the-dying-hours-of-the-biden-administration-now-hangs-in-the-balance/ar-AA1znvGX?ocid=widgetonlockscreen&cvid=bb80dc84df4f4b3080133049a53c8d97&ei=93
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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: Fate of Rivian’s $6.6 billion federal loan—secured in the dying hours of the Biden administratio
« Reply #1 on: February 20, 2025, 07:05:29 am »
Quote from: rangerrebew on February 20, 2025, 07:01:48 am

Tesla CEO Elon Musk stands to benefit the most.
 
 To date, the most famous recipient of the DOE program’s funding is Tesla. Even though the conditions attached can be onerous—CEO Elon Musk chose to repay his as early as possible—that didn’t stop the Trump transition team from pledging to investigate the deal.   
 

I thought this was a news article about Rivian, not an editorial. :pondering:
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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 IsailedawayfromFR

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Re: Fate of Rivian’s $6.6 billion federal loan—secured in the dying hours of the Biden administratio
« Reply #2 on: February 20, 2025, 10:16:32 am »
If the loan is canceled, Tesla CEO Elon Musk stands to benefit the most.

BS - ICE companies will benefit the most, as well as the American people
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Offline Fishrrman

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Re: Fate of Rivian’s $6.6 billion federal loan—secured in the dying hours of the Biden administratio
« Reply #3 on: February 20, 2025, 06:30:16 pm »
Claw the money back.
Let Rivian sink or swim on its own.
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