Biden Grants Rivian $6.6B Loan to Revive Stalled Georgia EV Factory

[SupportSanity]

Source: Newsweek

On Tuesday, the Biden administration announced a $6.6 billion loan to Rivian Automotive from the U.S. Department of Energy, aimed at resuming construction of the company's paused factory in Georgia.

The loan is a critical step for the electric vehicle (EV) maker, which had halted work on the plant after struggling to become profitable. The project's future now depends on the loan's completion before the upcoming presidential transition.

Rivian, which gained attention after producing large electric SUVs, pickup trucks, and delivery vans, had planned to build a $5 billion factory near Social Circle, Georgia, to produce smaller, more affordable R2 vehicles.

The first phase of the factory was set to produce 200,000 vehicles annually, with a second phase planned to double that number.

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Read more: https://www.newsweek.com/biden-grants-rivian-6-6-billion-revive-stalled-georgia-ev-factory-1991987

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This is on top of California Governor Newsom's plan that could cut Tesla from EV tax credit

https://www.democraticunderground.com/10143346959

[Historic NY]

1. MAGA seems pissed.

VW already invested billions to get Rivian back on its feet. Elonia is mad

[Prairie Gates]

3. My mantra for the next four years: If MAGA is mad, I'm happy

[Crepuscular]

6. ...

The deal with VW is more about them acquiring access to technology than getting Rivian back on their feet, although it certainly was beneficial to Rivian.

[EarthFirst]

2. Elon haz a sad...

Dawww…

[keithbvadu2]

4. Trump was pretty much against EVs until Elon started throwing money his way. Is Trump for this loan?

[NGeorgian]

5. Georgians don't want that factory**

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