### Rivian Secures $6.6 Billion Loan Amid Criticism from Musk and Allies

Rivian, a leading competitor of Tesla, has received a significant $6.6 billion loan from the Department of Energy (DOE). This loan is intended to jump-start the construction of a stalled electric vehicle (EV) manufacturing plant in Georgia, with aspirations to generate 7,500 jobs by 2030. However, not everyone is pleased with the decision, particularly key figures associated with Elon Musk.

Vivek Ramaswamy, expected to co-lead the “Department of Government Efficiency” (DOGE) alongside Musk under the second Trump administration, expressed strong disapproval via a post on X, formerly known as Twitter. "One 'justification' is the 7,500 jobs it creates, but that implies a cost of $880k/job which is insane," he wrote. "This smells more like a political shot across the bow at Elon Musk and Tesla."

A spokesperson for the DOE defended the loan, emphasizing that the Advanced Technology Vehicles Manufacturing Loan Program aims to bolster America's position as a leader in the global automotive industry. They highlighted the program's previous success, noting that Tesla benefited from a $465 million loan in 2010, which the company repaid early.

Musk and Ramaswamy have targeted reducing government spending by approximately $2 trillion and plan to significantly cut the federal workforce through DOGE, which is not an official government department. Their agenda to "slash excess regulations" has raised concerns, particularly regarding potential disruptions in regulatory agencies that often interact with Musk's businesses.

The Biden administration has taken several steps to encourage EV adoption, offering tax incentives of up to $7,500 for new EVs manufactured in the United States and allocating $7.5 billion in federal grants to build extensive EV charging infrastructure by 2030. However, with an administration change on the horizon, much of this spending is expected to be scaled back.

Economist Felix Tintelnott warned that eliminating the $7,500 tax credit could reduce EV sales in the U.S. by up to 27% in the near to medium term. In addition to promoting electric vehicles, the Biden administration is pushing to finalize funding for infrastructure and the U.S. microchip industry before the end of its term. The Commerce Department recently announced that Intel will receive about $7.9 billion in federal grants under the CHIPS Act.

Ramaswamy indicated that DOGE will scrutinize these last-minute grants closely, criticizing them as "11th-hour gambits" in another post on X.