Rivian Expects To Draw $6 Billion Biden-Era Loan Before Production Begins At Georgia Plant In 2028: Report - Rivian Automotive (NASDAQ:RIVN)

Rivian Expects To Draw $6 Billion Biden-Era Loan Before Production Begins At Georgia Plant In 2028: Report - Rivian Automotive (NASDAQ:RIVN)

Rivian CFO confirms plan to use $6.6B Biden-era loan before production begins at Georgia plant, targets 200K production capacity in Illinois.

Rivian CFO Says EV Maker Won't Tap US Government Loan Until 2028

(Bloomberg) — Rivian Automotive Inc. expects to draw on a $6.6 billion US government loan after building a new plant in Georgia but before starting production in 2028, according to its chief financial officer.

Rivian CFO Says EV Maker Won’t Tap US Government Loan Until 2028

Rivian Automotive Inc. expects to draw on a $6.6 billion US government loan after building a new plant in Georgia but before starting production in 2028, according to its chief financial officer.

Rivian won’t tap US loan until new plant built, CFO says

(Bloomberg/Chester Dawson) — Rivian Automotive Inc. expects to draw on a $6.6 billion US government loan after building a new plant in Georgia but before starting production in 2028, according to its chief financial officer. CFO Claire McDonough said the electric-vehicle maker anticipates starting construction on the factory next year and seeking reimbursement from a US Department of Energy loan once it’s completed. “It’d be prior to starting pr…

Rivian to Tap $6.6B DOE Loan Before Georgia Production Starts in 2028

Rivian is planning to get access to the US Department of Energy’s $6.6 billion loan for its Georgia factory to support production only after the plant is fully built.

Rivian will not draw its approved $6.6B federal loan until after its Georgia plant is built, targeting 2028

Rivian’s finance chief says the company will not touch the $6.6 billion U.S. government loan until its new plant in Georgia is built and ready to move toward production, which is expected in 2028. The statement came from CFO Claire McDonough, who spoke to reporters in Detroit. She said construction on the Georgia plant is expected to begin next year. Claire explained that Rivian plans to seek reimbursement through the Department of Energy loan a…