Rivian Stock Gains as Georgia Plant Gets Conditional Funding: What to Know

Rivian Automotive (RIVN) stock is higher in Tuesday's session after the electric vehicle (EV) maker announced it has secured a conditional commitment for a loan of up to $6.6 billion from the Department of Energy's Advanced Technology Vehicle Manufacturing (ATVM) Loan Program. If finalized, the loan will be used to construct Rivian's next facility in Stanton Springs North, Georgia. This will allow the automaker to expand its domestic production and help fund its production of its midsize vehicles, Rivian sa ...