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Rivian Receives $6.6B Loan from Biden Administration for Georgia Factory

Biden administration loans $6.6 billion to Rivian to restart stalled Georgia EV factory, bolstering U.S. electric vehicle goals.

The Biden administration has announced a $6.6 billion loan to Rivian Automotive, providing the electric vehicle startup with the funds needed to resume plans for a massive factory in Georgia. The factory project, paused earlier this year due to financial challenges, is expected to become a cornerstone of Rivian's efforts to scale production and expand its vehicle lineup. Georgia officials, including Governor Brian Kemp and Senator Jon Ossoff, have welcomed the investment, highlighting its potential to boost the state's growing EV sector.

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