US Backs $7B EV Battery Plants Amid Ramaswamy's DOGE Remarks
TL;DR
Vivek Ramaswamy, a tech billionaire, has vowed to scrutinize federal loans given to electric vehicle manufacturers other than Tesla, under the Inflation Reduction Act. This comes as the U.S. Department of Energy announced a $7 billion loan to Indiana-based battery plants and a $6 billion commitment to Rivian in Georgia. Ramaswamy's stance aligns with Elon Musk's criticism of federal aid to his EV competitors. However, a Goldman Sachs survey suggests skepticism about the effectiveness of Ramaswamy's efforts, with many investors doubting significant spending cuts will be achieved.
Topics:businesspolitics#electric-vehicles#elon-musk#federal-loans#inflation-reduction-act#politics#vivek-ramaswamy
- Vivek Ramaswamy signals DOGE will crush Elon Musk’s EV rivals Daily Kos
- LPO Announces Conditional Commitment to StarPlus Energy to Construct Lithium-Ion Battery Factories in Indiana Energy.gov
- Stellantis and Samsung Will Get $7 Billion to Build Battery Factories The New York Times
- US to loan $7.54B to Stellantis joint venture for 2 EV battery plants Electrek.co
- Vivek Ramaswamy Claims DOGE Will ‘Scrutinize’ Federal Loans to Tesla’s Enemies Gizmodo
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