Mode(RNA) and Tesla, We the Taxpayer Built That
One year after Obama took office, Tesla got a $465 million federal loan to design electric vehicles and build them at a manufacturing plant in Fremont, Calif. The company went public shortly thereafter, repaid the loan early, mainstreamed the electric vehicle, and now employs about 20,000 people in the Bay Area alone. It has the second-largest market capitalization of any automaker worldwide.
Public Citizen previously published a report showing that, in addition to the U.S. government’s early investments, the government has filed patents related to the vaccine and will likely have an ownership stake in the vaccine technology. Moderna has relied on a stabilized spike protein developed by the U.S. government. The U.S. government also funded 100% of Moderna’s project to bring the vaccine to the U.S. Food & Drug Administration approval. Taxpayers also paid twice when the Trump administration paid Moderna an additional $1.5 billion to secure doses in advance.