Rivian snags $6.6B conditional federal loan to build Georgia factory

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TechCrunch 12h ago

Rivian snags $6.6B conditional federal loan to build Georgia factory - TechCrunch

Quick Summary:

Rivian said late Monday it has secured conditional commitment for a $6.6 billion loan from the Department of Energy, funds that will help the EV maker restart construction of a massive factory in Georgia.

The funds will come from DOE’s Loan Programs Office Advanced Technology Vehicle Manufacturing Loan Program.

Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade.