Vivek Ramaswamy and Elon Musk’s DOGE to Review Federal EV Loans to Tesla Rivals

Ramaswamy criticizes Biden administration's $14 billion in loans to Stellantis and Rivian, raising concerns of potential conflicts of interest.

Vivek Ramaswamy, co-lead of the Department of Government Efficiency (DOGE), has pledged to scrutinize federal loans to Tesla competitors Stellantis and Rivian.
The Biden administration recently announced a $7.5 billion loan for Stellantis-Samsung's joint venture to build electric vehicle battery plants in Indiana and a $6.6 billion loan for Rivian's EV plant in Georgia.
Ramaswamy labeled the loans as part of a 'midnight spending spree' and called for their rescission, citing concerns about wasteful government spending.
Critics argue that DOGE, co-led by Tesla CEO Elon Musk, could be used to undermine Tesla's competitors and disproportionately benefit Musk's businesses.
The Department of Energy defended the loan program, highlighting its role in supporting U.S. manufacturing jobs and citing Tesla's successful repayment of a similar loan in 2010.