After a pause due to high costs, the electric vehicle manufacturer anticipates work on the project near Atlanta to begin in 2026.

Rivian recently announced the closing of a loan agreement with the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) for up to $6.6 billion in financial support for building its next

Rivian and the Department of Energy have finalized a $6.6 billion loan announced in November with just a few days left until Donald Trump's inauguration.

Donald Trump was sworn in as the 47th president earlier today, but the Biden administration rammed through a number of last minute decisions before that took place. One of them was the finalization of a loan to Rivian worth up to $6.6 billion.

Established in 2009, Rivian designs, develops, and manufactures premium electric vehicles (EVs). Their lineup features the rugged R1T pickup truck, the versatile R1S SUV, and the eco-friendly Rivian electric delivery van.

The U.S. Department of Energy gave final approval Thursday to electric vehicle maker Rivian for a $6.6 billion loan to support its stalled Georgia factory, a huge infusion of cash intended to ensure the plant gets built.

Key Takeaways Rivian Automotive shares rose Friday, a day after the electric vehicle maker announced it had finalized a federal loan worth up to $6.6 billion to build a factory in Georgia.The plant—set to be built "less than one hour's drive from downtown Atlanta,

Electric vehicle manufacturer Rivian was approved for a $6.5 billion federal loan to help it restart construction on a Georgia manufacturing facility to be built in Social Circle.

Rivian (NASDAQ:RIVN) closes on giant $6.6 billion loan from U.S. Department of Energy (DOE) to fund Georgia's state-of-the-art manufacturing facility. The new plant, to be located at the same location as the old factory of Lordstown Motors Corp.

Rivian has finalized a $6.6 billion loan agreement with the DOE to support the construction of a new manufacturing facility in Georgia.

Speaking at the opening of a Rivian store in San Francisco on Jan. 23, Scaringe said Rivian is working on technology that will enable supervised hands-free driving later this year, and eyes-off driving as soon as 2026. He said it's a technology the company is “hyper-focused” on, Reuters reported.

Ahead of Trump’s return to the White House, Rivian (RIVN) secured up to $6.6 billion in funding for its second EV manufacturing plant. The new facility will be home to Rivian’s more affordable midsize R2 electric SUV.