Rivian's Georgia Plant Loan Faces New Setbacks

Rivian's $6.6 billion federal loan, intended for building an electric vehicle plant in Georgia, is under threat due to the Trump administration's scrutiny of federal expenditures approved at the end of the Biden administration. Despite the potential risk to the funding, Rivian remains optimistic about proceeding with the plant, which promises to create thousands of jobs and increase EV production. Georgia Governor Brian Kemp expressed uncertainty about the loan's status but reaffirmed the state's support for Rivian while ensuring taxpayer protection. The plant, crucial for the production of Rivian's upcoming R2 and R3 models, has already faced several setbacks, including local protests and construction pauses due to high costs. Georgia Senator Jon Ossoff noted that the suspension of federal grants could lead to significant disruption. Rivian's planned facility will be pivotal in accelerating US manufacturing and maintaining leadership in the EV sector.