Posted on 03/03/2022 5:49:02 AM PST by Red Badger
New Georgia Electric Car Manufacturer Connected to George Soros March 3, 2022 Chris Butler
Georgia gubernatorial candidate David Perdue said this week that incumbent Governor Brian Kemp provided state-backed financial incentives to an electric vehicle (EV) manufacturer tied to George Soros.
Bloomberg reported this week that Soros does invest in the EV company Rivian.
Perdue, in a statement, said the deal “is nothing more than a scheme by Kemp to promote himself in an election year at Georgians’ expense.”
“Kemp thought he could get away with this under the guise of ‘economic development,’ but all he is doing here is selling us out and lining George Soros’s pockets,” Perdue said.
“Real economic development is straightforward. Growth should be organic, and the local community and its leaders should be involved in the process. Obviously, that is not the case here. Many members of the local community have expressed major concerns with having California-based, Soros-funded Rivian in their backyards. Like a typical 20-year career politician, Kemp is ignoring locals’ concerns and trying to cut them out of the process.”
Members of Kemp’s staff, as well as Rivian officials, did not return The Georgia Star News’ requests for comment on Wednesday.
The Rivian company “is backed by a long list of institutional investors and Wall Street stalwarts, including Soros Fund Management,” Bloomberg reported.
“The firm — which also participated in several private funding rounds before the IPO — owns more than 2 percent of Rivian’s shares outstanding,” according to the website.
“That would make Soros the 10th-largest shareholder. Stakes held by the likes of T. Rowe Price Group Inc., BlackRock Inc. and Amazon.com Inc., among others, are significantly greater.”
Georgia officials recently announced that Rivian will construct a $5 billion EV manufacturing plant in Morgan and Walton counties, although no one knows how much money the company accepted in government incentives.
Members of the Washington, D.C.-based Good Jobs First recently said they were concerned over how Georgia officials have thus far handled the matter.
According to its website, Good Jobs First is a policy resource center that promotes corporate and government accountability in economic development.
“Georgia announced that Rivian will build a very large vehicle and battery plant east of Atlanta, but has yet to disclose promised incentives (more than $1 billion is likely),” said Good Jobs First Executive Director Greg LeRoy in an email to followers.
Rivian officials said on the company’s website in December that the new plant will hire more than 7,500 people and produce up to 400,000 vehicles per year. They said they will start construction this summer and start manufacturing vehicles in 2024.
“Governments are suddenly throwing billions in subsidies at new EV assembly and battery factories. Uncle Sam, as usual, is MIA on industrial policy, so the ‘economic war among the states’ is in overdrive,” LeRoy wrote, adding Michigan, Tennessee, Illinois, North Carolina, and Kansas are also using subsidies to attract EV manufacturers.
LeRoy warned that states are budgeting billions to construct EV charging stations even though the potential loss of older jobs in auto manufacturing could result in fewer new jobs and fewer tax revenues.
In 2018, The Daily Caller reported that EVs aren’t popular and only people with six-figure incomes generally own them.
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Tesla
Soros is a joke
Soros will be dead soon. Who his money managers buy stock or angel investor in really does not matter as long as the investment is in something in the united states.
Soros could pull his investment tomorrow, the american public investor with no political motive will buy him out, it is a EV company that has attempted to set themselves up to scale.
If they are a failed EV company or a successful EV company not knowable for 2 decades.
Not sure why Soros supports Rivian or why we care. There seems to be respect for them as an electric truck company. Looks like Perdue is trolling.
“Soros will be dead soon.”
Yes, but his foul spawn will carry on after after he is gone. That kid’s birth must have been like a scene out of “The Omen”.
This one of three Tesla giga plants. When complete, they will have a worldwide capacity of several million electric vehicles and trucks per year.
A piss ant startup in Georgia has no chance of surviving. It is in business soley to harvest government subsidies.
Jeff Bezos just wants electric vans.
Don’t count Rivian out. I know FReepers hate EV’s but it’s the future and there is no stopping it. I know, I work with these companies at a very high level.
Regardless of what you think politically of their venture, they have so many contracts in place that it’s going to be a success story.
Every automotive manufacturer is moving forward with EVs too.
The haters may not like it and to each their own, but this is the way of the future.
The only way EV will make it is if Governments ORDER EVERYONE TO BUY THEM
And a very sick tasteless one at that. Why a known nazi collaborator is allowed to walk scot free in America, buy candidates and hasn’t been arrested yet is beyond me. I would be so happy to see his assets revoked and for him to be thrown in jail for the rest of his life.
It’ll be interesting to see how Tesla and Rivian line up against each other.
Both have incredible expectations about themselves and the future.
Disagree - heavily.
I have meetings with these companies. There’s no stopping it.
The entire EV push is deep state related.
Yep.......
I cannot guess how it is going to turn out.
There is one certainty. The auto/truck business is in serious flux and there is going to be great change while the disruption is in process
Watch out Elon. If Soros sues you, he has an advantage in judiciary support.
I don’t know either.
We’ll see if the grid can hold it.
Everybody wants a piece of the action.
Expect many more natural gas plants to pop up.
<>There’s no stopping it.<>
The Great Reset is underway.
Join or die.
Pass on to your posterity that the United States was once self-governed.
Penalize petroleum.
Subsidize electric.
The Dems make no secret of it.
I wouldn’t say this is part of “the Great Reset”.
It’s technology. Like the telephone, electricity, and computers, they all had their detractors.
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