Rivian's potential $6.6 billion DoE loan catches eye of Musk-Ramaswamy's DOGE
Posted: Dec 03, 2024
- Rivian is seeking a $6.6 billion loan from the Department of Energy
- There are concerns about potential corruption and monopolization
- Elon Musk and Vinod Khosla (DoE) are involved
- Questions about checks and balances to prevent corruption
- Potential for Rivian to become a major player in the US electric vehicle market.
- Rivian Automotive approved for $6.6 billion loan by the Biden administration
- Loan intended to bolster production in Georgia
- Elon Musk's co-head of DOGE, Vivek Ramaswamy, skeptical of loan allocation
- Concerns raised that loan may be politically motivated
- Ramaswamy questioning job creation justification for loan
- Trump administration yet to release official stance on loan
- DOGE aims to cut waste from government spending
- Elon Musk's Tesla also received a loan in 2010
- Tesla paid back $465 million DoE loan with interest early
- Potential impact on future of Rivian's loan uncertain
What do people on Reddit think?
🚨 Reddit sentiment: negative - There is strong skepticism and criticism towards the DOGE and its perceived role in the potential loan, with most comments expressing disbelief or negative views on political motivations and inefficiencies. Summarized comments: - Comments express skepticism about the legitimacy and efficacy of the DOGE department and its intentions. - Some users argue that targeting Elon Musk's competitors seems politically motivated. - Skepticism around the viability of DOGE's proposed strategies and potential outcomes. - Discussions on the political bias involved in the DoE loan approval or disapproval. - General disbelief and criticism towards the concept of DOGE as a governmental entity. - Comments reflect a belief that true intentions may be to hinder competition under a pretense. - Concerns voiced over potential taxpayer money wastage and bureaucratic inefficiencies. Stock tickers discussed: $RIVN
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