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Rivian scores US$6.6bn loan to build Georgia EV gigafactory 

Rivian’s loan from the US DoE marks the latest in a series of major cash injections into the struggling EV start-up. By Stewart Burnett 

Despite weathering years of steep economic losses, Rivian is embarking on a major expansion. On 25 November 2024, the pure electric vehicle (EV) start-up announced it had received “conditional” approval for a US$6.6bn loan from the US Department of Energy (DoE). Funds will be used to build an 1,800-acre EV plant near Atlanta, Georgia, with operations set to commence in 2028. Production at the plant will focus on the company’s upcoming R2- and R3-series vehicles. 

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