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The massive Rivian electric vehicle plant about an hour east of Atlanta has been recharged in the final months of the Biden administration with a $6.6B loan from the Department of Energy.
The DOE’s Loan Programs Office has conditionally approved a loan — $6B of which is principal and $592M of which would be capitalized interest — to Rivian Automotive to help complete its manufacturing facility that was put on indefinite pause earlier this year as the company attempted to shore up its finances due to sluggish sales.