President Joe Biden’s administration will loan $6.6 billion to electric vehicle maker Rivian Automotive to build a Georgia factory. The announcement Tuesday comes less than two months before Donald Trump becomes president again.
FILE - A Rivian R1S is displayed outside of the auto manufacturer’s new space at Ponce City Market on Oct. 19, 2023, in Atlanta. FILE - A truck leaves the site of a planned Rivian electric truck plant March 7, 2024, in Rutledge, Ga. FILE - A locked gate on a closed road near the site of a planned Rivian electric truck plant is shown March 7, 2024, in Rutledge, Ga. FILE - Gov.
Tuesday’s announcement throws a lifeline to Rivian’s grander plans. The company says its plans to make the R2 and the smaller R3 in Georgia are back on.Loan Program, which has $17.7 billion to provide low-cost loans to make fuel-efficient vehicles and components. The program has focused mostly on loans to new battery factories for electric vehicles in recent years but also helped finance the initial production of the Tesla Model S and Nissan Leaf, two electric vehicle pioneers in the U.S.
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Biden administration will loan $6.6 billion to Rivian to build Georgia factory that automaker pausedPresident Joe Biden’s administration will loan $6.6 billion to Rivian Automotive to build a Georgia factory. The announcement Tuesday comes less than two months before Donald Trump becomes president again.
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Biden administration will loan $6.6 billion to Rivian to build Georgia factory that automaker pausedPresident Joe Biden’s administration will loan $6.6 billion to Rivian Automotive to build a Georgia factory.
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