Ramaswamy to Scrutinize Biden Loan to Tesla Rival Rivian
Vivek Ramaswamy, incoming head of the Department of Government Efficiency, plans to investigate a $6.6 billion loan the Biden administration gave to electric vehicle manufacturer Rivian. Ramaswamy alleges the loan, intended to fund a Georgia plant, is excessively expensive per job created and politically motivated to undermine Tesla. Critics, including the *Wall Street Journal*, contend the loan constitutes corporate welfare, favoring a struggling company in a competitive market and potentially violating free-market principles. The loan’s justification is debated, with counterarguments highlighting Rivian’s potential economic impact and the risks of stifling nascent clean energy technologies.
John Q. Hosedrinker