Rivian receives conditional $6.6-billion federal loan for plant expansion, new models
Irvine electric-vehicle maker Rivian has conditional approval for a $6.6-billion loan to fund the construction of a new plant in Georgia.
Rivian to Receive $6.6 Billion Department of Energy Loan for Georgia Plant
Key Takeaways Rivian announced late Monday that the EV startup has received initial approval for a loan from the U.S. government to build a factory in Georgia.The company could receive a $6.6 billion loan from the Department of Energy's Advanced Technology Vehicle Manufacturing program,
Rivian’s $6.6 Billion Loan Advances EV Factory Timeline
The loan, which includes $6 billion of principal and around $600 million of capitalized interest, would come from the U.S. Energy Department’s Advanced Technology Vehicle Manufacturing program. Rivian CEO RJ Scaringe said the funds would enable the company to “more aggressively scale” production of cheaper electric sport utility vehicles.
Rivian Gets Conditional Approval For $6.6B DOE Loan For New Georgia EV Plant
Electric automaker Rivian Automotive revealed on Tuesday that it has received conditional approval for a loan of up to $6.6 billion under the U.S. Department of Energy's (DOE) Advanced Technology Vehicle Manufacturing (ATVM) Loan Program to expand its electric vehicle manufacturing in the United States.
Rivian Receives Conditional $6.6 Billion U.S. Loan to Expand EV Production
The conditional commitment from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing program includes $6 billion in principal and approximately $600 million in capitalized interest.
Rivian snags $6.6B conditional federal loan to build Georgia factory
Rivian said late Monday it has secured conditional commitment for a $6.6 billion loan from the Department of Energy, funds that will help the EV maker
Rivian Wins Preliminary Approval for $6.6 Billion US Loan
Rivian Automotive Inc. won preliminary approval for a $6.6 billion federal loan that will help support the construction of its delayed Georgia electric-vehicle plant.
Rivian To Restart Stalled Georgia Plant After Landing $6.6B Department of Energy Loan
The loan would be secured by Rivian’s facility at its Stanton Springs site and its fixed assets and guarantees by the parent company.
Rivian Automotive Shares Rise 7% on $6.6B Loan to Expand EV Production
Shares of Rivian Automotive shares were 7% higher in premarket trading after receiving conditional approval for a loan of up to $6.6 billion to boost its EV production capability. Shares were trading around $12.41. The stock is down 51% on the year.
Rivian Automotive secures $6.6bn loan for Georgia EV plant
Rivian Automotive has secured conditional loan of up to $6.6bn from the US Department of Energy (DOE) to support the construction of a new electric vehicle (EV) manufacturing facility in Georgia.
EV maker Rivian gets $6.6 billion federal loan to finish Georgia plant
Rivian paused work on the plant earlier this year amid financial difficulties. The factory is supposed to produce midsize and crossover SUVs.
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