Rivian aims to secure a $6.6 billion loan from the DOE to finance its Georgia electric vehicle factory, emphasizing urgency due to changing political tides.
The Advanced Technology Vehicles Manufacturing Loan Program, revived by Biden, is crucial for Rivian as it seeks to avoid past difficulties faced during Trump’s administration.
With Rivian's significant losses increasing, the swift closure of the loan with the DOE represents both a lifeline and a race against potential policy reversals.
As Trump prepares to take office, Rivian's future depends heavily on timely funding that could be cut once the new administration changes EV spending priorities.
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