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The Biden administration has agreed to lend $6 billion to troubled electric vehicle manufacturer Rivian to build a new factory near Atlanta, Georgia, a massive giveaway from an administration in love with EVs.

The New York Times reports that the Biden administration has announced that it will provide a $6 billion loan to Rivian, which produces electric vehicles but has struggled significantly in recent years. The loan will be used to finance the construction of a new factory in Social Circle, Georgia, near Atlanta, where Rivian plans to manufacture midsize sport utility vehicles and hatchbacks. . .

>The Biden administration has agreed to lend $6 billion to troubled electric vehicle manufacturer Rivian to build a new factory near Atlanta, Georgia, a massive giveaway from an administration in love with EVs. >The New York Times reports that the Biden administration has announced that it will provide a $6 billion loan to Rivian, which produces electric vehicles but has struggled significantly in recent years. The loan will be used to finance the construction of a new factory in Social Circle, Georgia, near Atlanta, where Rivian plans to manufacture midsize sport utility vehicles and hatchbacks. . . [Source](https://www.breitbart.com/tech/2024/11/27/ev-giveaway-biden-administration-lends-6-billion-for-rivian-electric-vehicle-factory/)

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[–] • 1 pt

Probably should have just let them fail. Maybe they would have turn their attention to an ICE vehicle and put out something spectacular instead of doubling down on a technology that the US isn't ready for

[–] • 0 pt

They are still destined to fail, a $6B Biden malinvestment just prolongs the misery.

$6B is a HUGE amount of OPM to throw down a rat hole. That could be a few state of the art semiconductor factories or other productive investments.