Vivek Ramaswamy criticized President Joe Biden's administration for its $6.6 billion loan to electric automaker Rivian, calling it a "political shot" at Elon Musk and Tesla.
The loan, announced Tuesday, aims to revive Rivian's stalled electric vehicle factory in Georgia, a project expected to create 7,500 jobs.
Ramaswamy, an entrepreneur and recently appointed co-leader of President-elect Donald Trump's proposed Department of Government Efficiency (DOGE), questioned the deal's economic justification, noting the implied cost per job exceeds $880,000.
In a social media post, he argued the move may be motivated by politics rather than practicality.
Biden is forking over $6.6B to EV-maker Rivian to build a Georgia plant they've already halted. One "justification" is the 7,500 jobs it creates, but that implies a cost of $880k/job which is insane. This smells more like a political shot across the bow at @elonmusk & @Tesla. https://t.co/YYLW3fk1jX
— Vivek Ramaswamy (@VivekGRamaswamy) November 26, 2024
The Department of Energy defended the loan as crucial to boosting U.S. EV production and supporting Biden's climate goals, which aim for zero-emission vehicles to comprise half of all new car sales by 2030.
Critics remain divided on whether the investment will deliver promised economic and environmental benefits, including many in the incoming Trump administration.
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