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Rivian gets $6.6 billion government loan to build its EV factory in Georgia
The loan was approved before Trump takes office.
The US Department of Energy will loan Rivian $6.6 billion to build an electric vehicle factory in Georgia, as Democrats scramble to finalize their climate agenda before Donald Trump takes office. Rivian said it received “conditional commitment” for its application to the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program, which was resurrected by President Joe Biden in 2022. Biden brought the program back in 2022 with a$2.5 billion loan to a joint venture of General Motors and LG Energy Solution to help fund the construction of a new lithium-ion battery manufacturing facility.
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