Threat to claw back Rivian loan sparks criticism of Musk’s conflict of interest [LOCKED DUE TO POLITICS]

[Hereforthesnacks]

If it is in fact an executed contract, then Rivian could sue the government and a court would either enforce the contract or levy damages on the breaching party. If the award is still just a promise and not yet official, then Rivian may want to be worried.

Even if they sue, Musk wins. It doesn’t matter if Rivian gets the money in the end. If they get it 2-3 years late, the damage is done. There is investor uncertainty. And Rivian can’t compete as well. It’s all the same game.

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[Brian-MS90D]

Even if they sue, Musk wins. It doesn’t matter if Rivian gets the money in the end. If they get it 2-3 years late, the damage is done. There is investor uncertainty. And Rivian can’t compete as well. It’s all the same game.

That is a very good point.

 

[vandy1981]

DOGE is a new advisory board and not an actual government department. They do not and likely will never have any power other than as an advisory committee. The President will be able to issue executive orders based on advise given, but there are a lot of considerations that that will go into that and it is no different from any President issuing executive orders to push their agenda based on advise from those they seek it from.

DOGE goes way beyond any advisory committee that we've seen and the incoming administration is treating them as if they are an official arm of the government. Their Mean Tweets are having a very real effect on the EV market even without the creation of an official department or the backing of an executive order.

Nevermind that the figurehead of DOGE spent $250 million on the Republican candidate's campaign and also owns a social media platform that has been fine-tuned to disseminate sympathetic propaganda.

 

[Chez]

I haven’t been paying attention to these loans. Is every other manufacturer getting the same 6.5 billion? Or is this just for Rivian?

 

[Zoidz]

I haven’t been paying attention to these loans. Is every other manufacturer getting the same 6.5 billion? Or is this just for Rivian?

They have to apply for it. Any manufacturer in an applicable market segment could have applied for a similar DOE loan of any amount. It's not a blanket amount or a handout. The company needs to go in with a detailed business plan, clear objectives, financials, etc. No different than your business applying for a loan, other than this is government backed to promote clean energy tech.

"As of September 2024, LPO has financed a $43.9 billion portfolio of innovative clean energy projects and advanced technology vehicle manufacturing facilities across the United States. LPO’s portfolio has supported job creation and is preventing harmful CO2 pollution while enhancing American competitiveness in the global economy.

Learn more about LPO's portfolio in the FY 2023 Annual Portfolio Status Report. For information on individual projects within LPO’s portfolio, as well as projects that have exited the portfolio, visit the Portfolio Projects page."

 

[Trinculo73]

Would any of you guys be willing to loan Rivian your money these days?
Odds are you will never see your money.
Be real! We are in 36 trillions in debt.

I mean, as a shareholder I already literally have loaned them my money.

 

[Shavaloo]

If we are having a civics class, Executive orders are limited in power and scope to non legislated items. In other words, Trump can’t issue an Exrcutive order to undo a law that was passed by congress snd signed by a president into law. He also can’t just undo spending legislated in a budget codified as law. It’s not clear what loans he could claw back without congressional approval, though with Trump and this Supreme Court, there’s no telling what he might get away with.

 

[Rividiculous]

As opposed to stealing and hiding classified documents and abusing presidential power to pardon your son’s felony convictions? Most politicians are dirty and in the business for self gain not public service.

I knew Jeff Lebowski.
Jeff Lebowski was a friend of mine.
Thedude, you’re no Jeff Lebowski.

 

[Rivian Head]

So you guys would be glad to loan your own money to Rivian ? I rest my case

 

[Thedude]

So you guys would be glad to loan your own money to Rivian ? I rest my case

A lot of us did at the IPO.

 

[Oldsmobile_Mike]

So you guys would be glad to loan your own money to Rivian ? I rest my case

I would say a good percentage of us here on this forum are stockholders. So as someone else said above, yes. Quite literally we have loaned money to Rivian.

It's a long-term investment, LOL.

 

[Zoidz]

So you guys would be glad to loan your own money to Rivian ? I rest my case

Yes. I bought the IPO. I bought more Rivian stock after the IPO which helps to support the market price. I am a taxpayer and I support the DOE loan program in general and specifically their loan to Rivian.

 

[Dark-Fx]

Yes. I bought the IPO. I bought more Rivian stock after the IPO which helps to support the market price. I am a taxpayer and I support the DOE loan program in general and specifically their loan to Rivian.

I got a greater discount over the new MSRP than my IPO'ed shares cost me though... so I'm not going to complain too much. Still holding my IPO shares.

 

[peace and quiet]

So you guys would be glad to loan your own money to Rivian ? I rest my case

So you guys would be glad to loan your own money to Rivian ? I rest my case

What case? Do you actually have a point or is this just more cult nonsense....

 

[Rivian Head]

It’s so ridiculous how our government wastes so much money on subsidized industries in the name of “ protection”. The likelihood of Rivian succeeding is very low; they can’t even sell their flagship products, and by the time R2 comes out, the market will be flooded with competitors. If you want to protect EV industry from China, invest in the proven winner or promising technology such as solid state battery industry etc…

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