Elon Musk's DOGE Co-Lead Already Targeting Tesla Rivals? Vivek Ramaswamy Flags Stellantis' $7.5B Loan Days After Criticizing Rivian's $6.6B Loan

Quick Summary:

Vivek Ramaswamy, the newly nominated co-lead of the Department of Government Efficiency or DOGE, has intensified his criticism of the President Joe Biden administration’s electric vehicle loans, targeting a $7.5 billion loan to StarPlus Energy, a joint venture involving Stellantis N.V.(NYSE:STLA), just days after questioning a $6.6 billion loan to Tesla Inc.(NASDAQ:TSLA) rival Rivian Automotive Inc (NASDAQ:RIVN).

What Happened: “Biden’s midnight spending spree is illegitimate & should be rescinded,” Ramaswamy wrote on X on Tuesday, pointing to the Department of Energy’s latest loan announcement.

The timing is particularly notable as it comes amid leadership turmoil at Stellantis, following CEO Carlos Tavares‘ abrupt resignation on Monday over “different views” with the board.

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Author / Journalist: Kaustubh Bagalkote

Category: Technology

Markets: United States

Topics: Vivek Ramaswamy Benzinga Mobility Donald Trump TSLA Equities RIVN Department Of Government Efficiency US88160R1014 STLA Electric vehicles EVs Government Kaustubh Bagalkote News Tech Markets KeyProj

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 08:39:56 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 466 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 24087175

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