Biden Crony Capitalism's Last Gasp Goes to Rivian

The editorial board at the Wall Street Journal writes today that it sure is good to have friends in high places, especially during a Democrat presidential administration. EV company Rivian - and major shareholders including Amazon - found that out just before Thanksgiving as the Biden Energy Department headed by Jennifer Granholm decided to gift it with a surreal capital infusion of $6 billion in the form of a “conditional” loan.

This insane waste of taxpayer dollars goes to a company on the verge of bankruptcy that has recorded losses this year of more than $107,000 per unit sold, a financial fiasco rivaling even the astounding losses recorded by Ford Motor Company’s Model e EV division.