Things that make you go “grr” – the Biden and Harris DOE lends 6 6villio bucks to a company whose EV sales fell 20% this year and which made just 50,000 EV’s in 2023 – 120,000 bucks pr 2023 unit sold
From here:
Biden’s Electric Vehicle Gamble: Innovation Hope or Taxpayer Burden? | Nationwide Republican
· “The Biden-Harris administration announced a multi-billion dollar loan for Rivian.
· Rivian reported a $1.1 billion loss and declining revenue due to reduced EV demand.
· The DOE has conditionally committed approximately $6.6 billion to Rivian.
· The loan will fund a new manufacturing facility in Georgia.
· The EV industry is experiencing reduced consumer demand despite subsidies.
A likely reason for the loan is that DOE officials and possibly Biden and Harris are looking for board seats and share options to pad their bank accounts.
Why would the DOE not give the loan to Tesla? It has EV’s that people actually want.
Here’s prior Rivian sales from Brave AI:
. Rivian sold a total of 50,122 vehicles in 2023, which is more than double the 24,337 vehicles delivered in 2022.
· Total Sales: 50,122 vehicles
· Breakdown by Model:
o R1S SUV: 24,783 units
o R1T midsize pickups: 11,310 units
o Electric delivery vans for Amazon: 9,648 units
o Other models: 4,381 units
A 20% fall this year implies sales of 40,000 units.
The 6 billion loan works out at 120,000 per nuit for 2023 sales of 50,000 and 150,000 bucks per unit on 40,000 units.
Blatant stupidity and rank corruption,
Onwards!!!
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And, the taxpayers will never ever be made whole on this unbonded loan should this company go banckrupt. Anyone recall Solyndra supported by Obama? "the company misled the U.S. Department of Energy in its application, and about two-and-a-half years after receiving the funds, filed for bankruptcy, laid off its 1,100 employees, and shut down all operations." Rinse and repeat imo is the Democratic Party playbook.
Elon will be even more enraged at this current fraudulent goverment. I do hope he buys cbs news and goes over every single thing the bidens have done for the next 4 years so people can hear the truth!!