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Rivian Gains $6.6 Billion Loan Amid Political Controversy Involving Tesla

3 hours ago

Rivian Gains $6.6 Billion Loan Amid Political Controversy Involving Tesla
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7 Highlights

  • Rivian gets a $6.6B loan for Georgia plant, creating 7,500 jobs by 2030.
  • Vivek Ramaswamy calls loan a 'political shot' at Tesla's Elon Musk.
    • Critics say the loan implies $880K per job, seen as excessive.
    • Proponents argue loan boosts U.S. lead in electric vehicle manufacturing.
    • Rivian shares surge 15% after loan announcement.
    • Rivian's plant construction aligns with Gov. Brian Kemp's agenda.
    • Rivian's market value fell from $150B to over $10B recently.
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