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Rivian has secured a conditional loan of 6.6 billion dollars to build an electric auto factory in Georgia.
The us electric vehicle manufacturer Rivian announced on Monday that it has received conditional approval for a loan of up to 6.6 billion dollars from the us energy department to build a production facility in Georgia. The company stated in a release that the Georgia factory is scheduled to begin operation in 2028, planning to produce future models such as the smaller and cheaper R2 SUV and R3 crossover. Rivian's stock price has dropped about 50% this year, as the company has been working hard to produce spacious electric SUVs and pickups, while also addressing issues related to parts shortages and trying to cut costs. To save cash and accelerate the R2.
Rivian: Expect to Create About 7,500 Operations Jobs Through 2030 at Future Georgia Manufacturing Facility >RIVN
Rivian Gets Conditional Approval for $6.6 Bln Govt Loan to Build Georgia Factory
Rivian: Plan to Build Facility in Two Phases, Each Resulting in Annual Production Capacity of 200,000 Units >RIVN
