Get the latest tech news

Biden administration races to approve clean energy loans before Trump takes over — here’s who is benefiting

The Department of Energy (DOE) is on a loan-approval spree in the lead-up to President-elect Donald Trump’s inauguration, and the winners are all

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. Rivian on November 25 secured a conditional commitment for a $6.6 billion loan to help it restart construction on its massive EV factory in Georgia.

Get the Android app