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Is Rivian's Billion-Dollar Federal Loan at Risk?

Summary by InsideHook

In the last days of the Biden administration, the Department of Energy signed a loan agreement with EV manufacturer Rivian that the latter planned to use to build a new factory in Georgia. The automaker’s announcement touted the creation of 7,500 jobs, with work to begin on the new facility in 2026. In a statement, Rivian CEO RJ Scaringe spoke of how “this additional capacity for our mass market products is key to U.S. leadership in the electric…

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Is Rivian's Billion-Dollar Federal Loan at Risk?

In the last days of the Biden administration, the Department of Energy signed a loan agreement with EV manufacturer Rivian that the latter planned to use to build a new factory in Georgia. The automaker’s announcement touted the creation of 7,500 jobs, with work to begin on the new facility in 2026. In a statement, Rivian CEO RJ Scaringe spoke of how “this additional capacity for our mass market products is key to U.S. leadership in the electric…

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InsideHook broke the news in 2 days ago on Sunday, March 2, 2025.

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