Rivian awarded $6B federal loan on paused construction of EV ...
2 days ago · Rivian halted construction and moved production of its first SUV line to its existing factory in Normal, Illinois. At the time, Rivian estimated it could save more than $2.25 billion and start production in the first half of 2026. Georgia state officials initially promised Rivian nearly $1.5 billion in tax breaks to build the factory in May 2022.
Biden administration to loan $6.6B to EV maker Rivian | AP News
2 days ago · ATLANTA (AP) — President Joe Biden’s administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable.. It’s unclear whether the administration can complete the loan before Donald Trump becomes president again in less ...
Rivian plant Georgia project getting $6B federal loan for revival ...
2 days ago · MORGAN COUNTY, Ga. — The stalled Rivian manufacturing plant mega-project in Georgia is getting a huge revival boost from the federal government, Sen. Jon Ossoff's office announced Tuesday. Sen ...
Rivian lines up $6.6 billion federal loan to revive Georgia ...
2 days ago · The electric automaker Rivian may have found a lifeline for its stalled plans for a new manufacturing plant in Georgia, winning a $6.6 billion loan from the U.S. Department of Energy in the final weeks of the Biden administration.. The loan, announced Monday, is a “conditional commitment” and is not finalized.It’s unclear how the incoming Trump administration, which has been critical of ...
Rivian could get $6 billion federal loan to resume building Georgia ...
2 days ago · When in March Rivian submitted an Securities and Exchange Commission filing that it was pausing those plans, it was unclear what that meant for the company's future in Georgia. Driving the news: Rivian is set to receive a $5.98 billion conditional loan from the U.S. Department of Energy, the agency and Sen. Jon Ossoff announced Tuesday.
Biden administration to loan $6.6B to EV maker Rivian to ... - ABC News
3 days ago · The first phase of Rivian’s Georgia factory is projected to make 200,000 vehicles a year, with a second phase capable of another 200,000 a year. Eventually, the plant is projected to employ ...
LPO Announces Conditional Commitment to Rivian to Support …
3 days ago · As part of the Biden-Harris Administration’s Investing in America agenda, the Department of Energy’s (DOE) Loan Programs Office (LPO) today announced a conditional commitment to Rivian New Horizon, LLC for a direct loan of up to $6.57 billion (including $5.975 billion of principal and $592 million of capitalized interest) to finance the development and construction of Project Horizon, an ...
Automaker Rivian pauses construction of its $5 billion electric …
Mar 7, 2024 · California-based Rivian had planned to start building its new R2 midsize SUVs at the Georgia site east of Atlanta. State and local governments offered an incentive package as large as $1.5 billion, one of the largest ever offered for an American auto plant.
Rivian (RIVN) takes big step toward restarting its Georgia EV plant
Oct 7, 2024 · Rivian (RIVN) is moving closer to restarting construction at its $5 billion EV plant in Georgia after pausing it months ago. The company recently took a significant step by applying for a...
Rivian Gets $6.6 Billion Conditional Loan Approval to Build Georgia …
4 days ago · US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. ... Rivian said it expects the Georgia plant to employ about 7,500 operations staff through 2030.
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