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Rivian finalizes $6.6B loan for its Georgia factory
RIVNRivian Automotive(RIVN) TechCrunch·2025-01-17 23:45

Rivian and the Department of Energy have finalized a $6.6 billion loan announced in November with just a few days left until Donald Trump’s inauguration. The company will use the loan to help build out its planned factory in Georgia, east of Atlanta, with construction beginning in 2026. The first R2 SUVs are scheduled to come off the line in 2028.The loan comes from the Advanced Technology Vehicle Manufacturing (ATVM) program, part of the DOE’s Loan Programs Office. ATVM is most well-known as the program th ...