Rivian Receives $6.6B Loan Approval to Build EV Production Facility

Rivian Automotive, Inc. (RIVN) has got conditional approval for a loan of up to $6.6 billion from the U.S. Department of Energy to develop its electric vehicle (EV) production plant in Georgia. The announcement followed the inauguration of President-elect Donald Trump, who is anticipated to reverse many EV-friendly policies established by the Biden administration.The Georgia facility, set to manufacture Rivian’s smaller and more affordable R2 SUVs and R3 crossovers, is expected to begin operations in 2028. ...