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Biden administration races to approve clean energy loans before Trump takes over — here’s who is benefiting
The Department of Energy (DOE) appears to be on a loan-approval spree in the lead-up to President-Elect Donald Trump’s inauguration, and the winners are
Trump has promised to cancel any unspent federal dollars under President Joe Biden’s Inflation Reduction Act, a bipartisan climate law that allocated billions to building a domestic supply chain for clean energy. The ATVM program in particular, which went dormant under Trump’s first administration, once provided a much-needed $465 million loan to Tesla in 2009, helping to save the EV maker from one of several near-death experiences. A joint venture between General Motors and LG Energy Solution was the first to receive a$2.5 billion loan under the ATVM program in 2022 under Biden’s administration.
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