Rivian Secures $6.6B Loan
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expensive R2 SUVsReuters
•Rivian gets $6.6 billion conditional loan approval to build Georgia EV plant
77% Informative
Electric vehicle maker Rivian says it has received conditional approval for a loan of up to $6.6 billion from the U.S. Department of Energy .
Operation of the Georgia plant, where Rivian plans to build future vehicles such as its smaller, less expensive R2 SUVs and R3 crossovers, will begin in 2028 .
Rivian shares are down about 50% this year as the young company has struggled to produce its roomy electric SUVs.
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