Shame, Rivian won't get the DOE loans that helped Tesla stay afloat.
They've already received $11b in private funding and another 13b from the IPO. I don't think money is the problem here.
I do love their trucks and hope they succeed though
Why is "they paid the loan back" always a talking point?
It is not a sin to enlist the help of others to achieve your goals.
Money is our economy’s way of rewarding those of us with outsized skills. It’s far from perfect, but it’s the best we’ve got. Is Tesla and Elon the best place to put that $465m? Maybe, maybe not. But it was the best we had at the time, and I certainly don’t see anyone better than him now.
But I don’t think even a majority of the populace had an issue with it anyway - it’s always the fringe extremists that get most of the press, they tend to be a lot more quotable than the ‘meh, I guess that’s fine’ folks.
Which ones were not paid back? GM and Chrysler paid their government loans back. Ford paid their private equity loan back.
Why isn't the numerous instances of federal bailouts in thousands of other companies NOT a talking point if Tesla's is? Savings and Loans, Mortgage crisis, airlines, etc.
If you don't think having a premier EV manufacturer in the US when the Chinese are otherwise poised for total domination of the sector isn't an economic national security issue, then I don't know what to tell you.
The other federal bailouts aren't talked about often on HN, because they are not tech companies. And most of those conversations feature the talking point "they paid back the loan" as well. I have no idea why it's important.
I'm fine with the government subsidizing EV manufacturing industries. That's not the question. The question is "why is it important they paid the loan back?"
Additionally, while Rivian is a premium vehicle and may presumably attract a substantial number of cash buyers, increases in interest rates can't help sales.
https://tesla-cdn.thron.com/static/WTULXQ_TSLA_Q3_2022_Updat...