Rivian's $6.6 billion federal loan to support its Georgia manufacturing plant faces uncertainty after former President Trump froze federal funding. Georgia Governor Brian Kemp expressed confusion over the status of the loan, originally approved during the Biden administration. The loan, consisting of $6 billion principal plus $600 million in capitalized interest, is intended to enhance Rivian's U.S. manufacturing capabilities. Despite these challenges, Rivian remains optimistic about securing the funds and emphasizes job creation and onshore manufacturing in Georgia.
This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 and R3 vehicles that emphasize both capability and affordability.
You know, they [Rivian] secured that loan at the tail end of the Biden administration, and, you know, I think there's no secret that the Trump administration is taking a look at all those things.
We got parameters in, and whether it's the incentives, the side itself to protect taxpayers regardless of what happens with that side.
Rivian is confident that it will receive the $6.6 billion loan from the government, contributing to onshore US manufacturing.
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