President Joe Biden’s administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable. It’s unclear whether the administration can complete the loan before Donald Trump becomes president again in less than two months, or whether the Trump administration might try to claw the money back. Trump previously vowed to end federal electric vehicle tax credits, which are worth up to $7,500 for new zero-emission vehicles and $4,000 for used ones. Rivian made a splash when it went public and began producing large electric R1 SUVs, pickup trucks and delivery vans at a former Mitsubishi factory in Normal, Illinois, in 2021.

BING NEWS:
  • Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory
    President Joe Biden's administration announced this week that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the ...
    11/28/2024 - 7:05 pm | View Link
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  • Biden administration to loan $6.6 billion to EV maker Rivian to build Georgia factory that automaker paused
    The Energy Department said the loan would substantially boost electric vehicles made in the United States and support Biden’s goal of having zero-emission vehicles make up half of all new US sales by ...
    11/26/2024 - 10:05 am | View Link
  • Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory that automaker paused
    President Joe Biden’s administration will loan $6.6 billion to electric vehicle maker Rivian Automotive to build a Georgia factory.
    11/26/2024 - 8:39 am | View Link
  • Ticker: Shoplifting ring stole $2M in cosmetics and clothes; Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory
    Ticker: Shoplifting ring stole $2M in cosmetics and clothes; Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory ...
    11/26/2024 - 8:18 am | View Link
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