Rivian $6.57 billion federal loan funding approved for Georgia ...
15 hours ago · ATLANTA — Electric vehicle manufacturer Rivian was approved for a $6.57 billion federal loan to help it restart construction on a Georgia manufacturing facility to be built in Social Circle.
DOE Announces $6.57 Billion Loan to Rivian to ... - Department of …
2 days ago · Rivian currently produces its three-row electric SUV, the R1S, and its electric pickup truck, the R1T, as well as commercial vans at its Normal, Illinois, facility. Rivian’s Georgia facility will allow the company to reach production volumes that make its products more cost competitive and accelerate access to international markets.
Rivian closes $6.6B federal loan for Georgia EV plant before …
10 hours ago · Rivian, based in Irvine, Calif., said the government loan will support 7,500 manufacturing jobs in Georgia. In 2024, Rivian production fell 14 percent to 49,476 vehicles, and deliveries rose 2.9 ...
Rivian finalizes $6.6B loan for its Georgia factory | TechCrunch
13 hours ago · The loan comes in two tranches, which Rivian says it will use to fund the two stages of buildout it’s planning in Georgia. Rivian can borrow up to $3.35 billion in the first tranche, and up to ...
Rivian and U.S. Department of Energy Finalize Loan Agreement to …
1 day ago · The loan will be split across two phases of Rivian’s Georgia facility. Excluding capitalized interest, the first phase is expected to have a loan size up to $3.4B and the second phase up to $2.6B.
Biden administration to loan $6.6B to EV maker Rivian | AP News
Nov 26, 2024 · 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.
LPO Announces Conditional Commitment to Rivian to Support …
On November 25, 2024, LPO announced a conditional commitment to Rivian New Horizon, LLC of up to $6.57 billion to finance the development and construction of Project Horizon, an EV manufacturing facility located in Stanton Springs North, Georgia.
Rivian Shares Progress on Future Georgia Facility
Rivian shares progress on its future Georgia facility at the Atlanta Space grand opening. See the latest developments and plans for our new site.
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 | Georgia Department of Economic Development
On December 16, 2021, Governor Brian Kemp announced that American all-electric adventure vehicle manufacturer Rivian would expand its manufacturing operations with a second U.S. plant in the State of Georgia.
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