Rivian Secures Conditional $6 Bn Loan for EV Plant Construction

December 4, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Electric vehicle (EV) maker Rivian Automotive Incorporated (Irvine, California) said last week it received conditional commitment for a $6.6 billion loan from the U.S. Department of Energy (DOE) to help kickstart construction of a facility in Georgia that could produce 400,000 vehicles annually.