Reported about 7 hours ago
Rivian has received conditional approval for a $6.6 billion loan from the US Department of Energy to establish an electric vehicle production facility in Georgia, set to open in 2028. This funding aims to boost production of Rivian's affordable R2 and R3 vehicles. However, Rivian must meet specific conditions, including not opposing union efforts at the plant. The company has faced challenges with production and competition but is maintaining its goal of achieving profitability.
Source: YAHOO