Rivian To Restart Stalled Georgia Plant After Landing $6.6B Department Of Energy Loan

  • 11/26/2024

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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.

Rivian (Nasdaq: RIV)
Jimmy Knauf | EVP, Facilities

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