Biden grants Rivian $6.6B loan to revive stalled Georgia EV factory

By Newsweek | Nov 26, 2024 at 01:45 PM EST

The Biden administration approved a $6.6 billion loan to Rivian Automotive to restart construction of its Georgia factory, crucial for the struggling EV maker. Volkswagen's investment and the loan aim to boost production and support the company's electric vehicle goals.

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