Rivian gets more government bailout money$!

Rivians got money problems,again! Rivian Automotive received a conditional $6.6 billion loan from the U.S. Department of Energy's Advanced Technology Vehicle Manufacturing Program to help build a new electric vehicle factory in Georgia: The loan will help Rivian complete construction on its stalled factory project The first phase of construction is expected to be completed in 2028, which will increase annual production to 200,000 vehicles A second phase will increase annual production to 400,000 vehicles Rivian has also received other government incentives, including: $1.5 billion in state and local incentives for the Georgia facility in 2022 $827 million in an incentive package from the State of Illinois to expand operations at its Normal facility in May

Rivian is set to receive a $6.6 billion federal government loan to construct its Project Horizon manufacturing facility in Georgia, which will manufacture up to 400,000 vehicles. The loan will help create thousands of new American jobs and further strengthen U.S. leadership in EV manufacturing and technology. Rivian plans to begin production at the Georgia plant in 2028, with an initial yearly production run of 200,000 vehicles, and the plant is expected to support up to 2,000 full-time jobs through construction and 7,500 operations jobs by 2030. The loan is a conditional commitment, and Rivian must meet certain technical, legal, environmental, and financial conditions before the funds are delivered for financing.for complete article:yahoo finance