Chinese EV startups Byton and Nio received paycheck protection loans of at least $5 million

Chinese EV startups Byton, Nio, and Karma Automotive were among the companies that received the largest loans from the government’s COVID-19-related Paycheck Protection Program (PPP) in April, with each receiving loans of between $5 million and $10 million, according to new data released by the Treasury Department and the Small Business Administration (SBA). Byton received […]

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The federal government says Bird got at least a $5 million bailout loan, but the company denies it

There’s a dispute over which companies received federal bailout money. Bird, the scooter sharing company, received a loan worth between $5 million and $10 million from the federal government’s Paycheck Protection Program (PPP) in late April, according to a list of thousands of companies released Monday. The company said in its application to the Treasury […]

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