Rivian Finalizes $6.6B Loan Agreement with U.S. Department of Energy
Tuesday, January 21st, 2025
Rivian Automotive (RIVN, Financials) announced a $6.6 billion financing with the financing Programs Office of the U.S. Department of Energy to establish a Stanton Springs North, Georgia manufacturing facility.
According to the announcement, the factory is planned to generate 7,500 employment and help produce Rivian's R2 SUV and R3 crossover cars. Although output is expected in 2028, construction is slated to start in 2026.
Read More at Yahoo! News.
