The Department of Government Efficiency (DOGE), a recently formed agency, will investigate several large loans granted by the government to a Stellantis joint venture and Rivian, a electric vehicle manufacturer. The agency, led by Vivek Ramaswamy and Elon Musk, plans to review the $7.5 billion loan to StarPlus Energy, a joint venture between Samsung and Stellantis, to build battery production facilities in Indiana, as well as a $6.6 billion loan to Rivian to complete an upcoming factory in Georgia.
The loans were part of the Department of Energy’s Advanced Technology Vehicles Manufacturing program, which aimed to promote electric vehicles and clean energy technologies. The program has previously provided funding to Tesla, which received a loan in 2010. The DOGE will also review these previous loans to ensure that they are legitimate and necessary.
Critics have questioned the effectiveness of the DOGE in its mission to cut government spending, as any significant changes would still require Congressional approval, where the Republicans hold a slim majority. Meanwhile, analysts have expressed skepticism about the agency’s ability to achieve its goal of cutting $2 trillion in spending.