Article: Elon Musk’s DOGE partner Vivek Ramaswamy says they’ll scrutinize $6.6 billion Biden loan to Tesla rival Rivian

[UnsungZero_OldTimeAdMan]

“Oh yeah, we are free market capitalists”.

They are "free market capitalists" only when free market principles benefit them personally. They view everything in their lifetime only through the lens of "what's in it for me and only me?" A very narrow and distorted view.

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[Dark-Fx]

And that's one of the many problems with our culture today: "I've got my benefits, no one else gets help."

We just need to confuse these guys with an infinitely long ladder.

 

[ThirteenElectrics]

I can’t imagine why anyone with half a brain would buy a Tesla after 2020. Musk is, frankly, a danger to the US. Unlike automobile factories, the world needs more battery factories; there just aren’t enough right now. These DoE loans enable Rivian’s and Stellantis’.

I still maintain that spending any money on a Georgia auto factory (as opposed to a battery factory) is a waste, though.

 

[Donald Stanfield]

Clown doing clown things.

 

[TrickyD]

We have one on ours. Would love to sell the Y but my wife is attached (despite despising Musk).

 

[UnsungZero_OldTimeAdMan]

We have one on ours. Would love to sell the Y but my wife is attached (despite despising Musk).

If I owned a Tesla, I'd be more inclined to de-badge than to turn it into an opposition billboard (and invite Elmo's minions to vandalize it).

 

[SDH]

There are plenty of examples of BS loans, grants, and government projects. I haven't looked into the details of Rivian's loan, but I'm sure it has some questionable terms.

However, the much bigger concern is that a competitor (Elon Musk and Tesla) would be the one's to audit the loan and decide if it should stand.

This is next level BS. If they want a level playing field then let Bezos and Lockheed audit SpaceX programs and loans. Let Rivian, and the Big Three audit Tesla.

^ exactly right ^

As tax payers, we should want ALL Govt. loans to be thoroughly scrutinized. I'm not going to take sides, but lets have a proper standard and EVERYONE abide by it.

 

[Blu Angel]

Quote from the Yahoo news article,

”
Coveted car plants
Ramaswamy’s calculation may be overly simplistic, however. Vehicle plants are often the most prized of all industrial manufacturing sites, not merely because they directly sustain thousands of families with well-paying blue-collar jobs.

Just as important, they sit at the apex of supply chains fed by entire economic sectors including steel, aluminum, electronics, chemicals, paints, plastics, rubber, leather, and upholstery and many others responsible for the thousands of parts built into every modern passenger car.”

Therefore, politically it may be quite difficult to “cancel” this loan
where it supports many blue collar workers

 

[NDIrish]

Rivian fan and Rivian Shareholder here.
Yes, as a tax paying american. That 'loan' and the terms are bull!

I need to look into the terms... But I prefer a loan that will be repaid to subsidies

I see Stellantis and their battery partner just got a bigger $7b loan also... So I think gov investing with loans is the right way to build the capacity here

It's not tax breaks, subsidies, or grants

 

[Redline]

If you can't see this is Musk trying to destroy any competition....then I've got ocean side land to sell you in Arizona.

 

[StarTrekNerd]

Can't wait to hear Elon explain why he is entitled to Federal loans, subsidies, contracts but other companies aren't. I won't hold my breath... Ramaswamy is just his annoying intern.

I'm not defending this new Department but what Tesla loan? Are you talking about the one 15 years ago that was paid off earlier than all other loans in that program?

 

[StarTrekNerd]

If you can't see this is Musk trying to destroy any competition....then I've got ocean side land to sell you in Arizona.

Anything's possible with global warming.

 

[StarTrekNerd]

There are plenty of examples of BS loans, grants, and government projects. I haven't looked into the details of Rivian's loan, but I'm sure it has some questionable terms.

However, the much bigger concern is that a competitor (Elon Musk and Tesla) would be the one's to audit the loan and decide if it should stand.

This is next level BS. If they want a level playing field then let Bezos and Lockheed audit SpaceX programs and loans. Let Rivian, and the Big Three audit Tesla.

I seriously doubt Tesla will have anything to do with auditing this loan to Rivian.

 

[Big Green Machine]

They want “free” and “freedom” for themselves. It’s wasteful charity when someone else are the beneficiaries.

Case in point, Musk is all bent out of shape over Gov. Newsom's tax credit proposal that exclude Teslas. Conveniently forgetting the $3+ Billion Tesla has received from the state since 2003. If not for that, Tesla might not exist today. And this figure isn't the only government assistance Tesla has benefited from.

And that's one of the many problems with our culture today: "I've got my benefits, no one else gets help."

Totally agree!

 

[PVguy]

I need to look into the terms... But I prefer a loan that will be repaid to subsidies

I see Stellantis and their battery partner just got a bigger $7b loan also... So I think gov investing with loans is the right way to build the capacity here

It's not tax breaks, subsidies, or grants

I have seen headlines, but have not read the articles stating that Stellantis will probably be bought out, possibly by Chinese investors. Any thoughts on this?

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