Posted on 01/22/2025 7:02:03 AM PST by Mr. Mojo
Donald Trump was sworn in as the 47th president earlier today, but the Biden administration rammed through a number of last minute decisions before that took place. One of them was the finalization of a loan to Rivian worth up to $6.6 billion.
The Department of Energy said the money will be used to finance the development and construction of a new manufacturing plant near Social Circle, Georgia. The facility will span approximately nine million square feet and have the capability to build up to 400,000 crossovers and SUVs annually.
The plant will build models based on Rivian’s new midsize platform. This includes the R2 and R3, which were introduced early last year. Once production at the plant is fully ramped up, vehicles built there could save approximately 146 million gallons (553 million liters) of petroleum annually.
The government added the plant should generate up to 2,000 construction jobs as well as 7,500 operations jobs through 2030. They went on to note, “Rivian intends to hire at least a quarter of its employees at the Stanton Springs facility from the local community. This investment supports the Biden-Harris Administration’s Justice40 Initiative, which sets a goal that 40% of the overall benefits of certain federal investment in climate, clean energy, and other areas flow to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.”
For their part, Rivian said construction is slated to begin next year and production should begin in 2028. Hiring is already underway and the project will be broken up into two phases with each having the capability to build 200,000 vehicles annually.
Rivian CEO RJ Scaringe said, “This loan will help us accelerate the launch of our Georgia plant for R2 and R3, providing thousands of jobs in the state.” He added, “People are incredibly excited to get behind the wheel of our new models, and this additional capacity for our mass market products is key to U.S. leadership in the electric vehicle industry.”
Any way to call it due??
Wall Street Short Sellers Already soaked it up.
DOGE first act?
If Rivian can’t secure a bank loan, it should suffer the natural effects of its own failures, not be financed by political handouts siphoning $$ from our wallets.
Majority of people don’t want EVs and never did.
The REAL question is how much of this money will end up back in the biden crime family’s pockets because THAT is what this is all about.......kickbacks are a very old racket in organizing crime.
“This includes the R2 and R3, which were introduced early last year. Once production at the plant is fully ramped up, vehicles built there could save approximately 146 million gallons (553 million liters) of petroleum annually.”
For those wondering, this comes out to 3 million barrels of oil PER YEAR, or about 10,000 barrels per day, or roughly 1% of the oil consumption of the Los Angeles area. Yippee.
Hey, Joe, here’s your definition of Oligarchy.
Biden has taken the job of appropriated funds for his pet projects (many from which he undoubtedly gets kickbacks). Congress is for the most part just a bunch of political whores looking for a microphone or video camera.
“”The next Solyndra””
That man has a knack for doing the wrong thing. He WAS THE ONE RESPONSIBLE to hold Solyndra to account - like all his promises - I WILL BE IN CHARGE blah blah blah.....
Somebody should be hanged for this. Rivian makes garbage vehicles, and there’s no constitutional authority for the U.S. taxpayers to be on the hook for this.
More 10% for the Big Guy, I guess.
A little on the side for the ‘big guy’? Wonder what the price tag was on pardons for folks not proven to have committed a crime. 🤔
Does anyone know the current status of our Strategic Oil Reserve? I would bet it’s EMPTY or pretty darn close to it!!!! Without eyes and ears on it during most of this last administration, it could have been emptied right under our noses!!
“Does anyone know the current status of our Strategic Oil Reserve? I would bet it’s EMPTY or pretty darn close to it!!!! Without eyes and ears on it during most of this last administration, it could have been emptied right under our noses!!”
Yep, they would do ANYTHING to get power, including nearly starting WW3. And speaking of that, I cannot wait until Hegseth tells the country just how depleted our military is. If nothing else, that will convince Trump end the hardware pipeline to Ukraine.
I am sure a good lawyer could prove they are already in default on some part of the legal contracts.
We are probably talking thousands of pages of documents here.
Any fraud on their part and the contract is void.
“The next Solyndra, but over 10 times more costly. “
Came here to say this.
I believe Bidet emptied the SR a couple of years ago to get gas prices down a little before mid-term elections.
Contract Law was the first course I took after I got out of High School....1962. It has helped me all through my life.
The issue is that if the contract was fraudulently obtained—representations made that are later proven false—the contact is void.
An example of that is when you are hired there is always language that if you lied on your resume to obtain the job you can be fired at any time.
“I am sure a good lawyer could prove they are already in default on some part of the legal contracts.
We are probably talking thousands of pages of documents here.
Any fraud on their part and the contract is void.”
Who is funding this company (Besides US.gov?)
I first heard of Rivian in a documentary about two actors (Ewan McGregor and Charlie Boorman) who drove electric motorcycles 13k miles through central and South America. They road custom electric Harleys and Rivian supported them the whole way, building charging stations as they needed them while also using diesel powered vehicles and generators. I thought it was a documentary length commercial for Rivian and EVs. And I thought it was a big scam. Looks like Rivian’s scam paid off. Thanks, Brandon.
It is so great it needs government money. It is so great it will save gas by magic. It will stop pollution in “underserved” poor communities (read, black) because we all know poor people are clamoring to buy $100,000 electric cars and park them on the streets with extension cords running from their apartments.
One last turd in the American punchbowl from that disgusting chomo and his cackling whore.
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