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Keyword: payofffor2016

Biden Admin Finalized Rivian’s $6.6 Billion Loan Before Trump Took Office

01/22/2025 7:02:03 AM PST · by Mr. Mojo · 44 replies
Car Scoops ^ | JANUARY 20, 2025 | MICHAEL GAUTHIER

Donald Trump was sworn in as the 47th president earlier today, but the Biden administration rammed through a number of last minute decisions before that took place. One of them was the finalization of a loan to Rivian worth up to $6.6 billion. The Department of Energy said the money will be used to finance the development and construction of a new manufacturing plant near Social Circle, Georgia. The facility will span approximately nine million square feet and have the capability to build up to 400,000 crossovers and SUVs annually. The plant will build models based on Rivian’s new midsize...

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