US EditionTesla-Rival Rivian's $6.6 Billion Federal Loan Under Scrutiny As Trump Administration Reviews Funding - Tesla (NASDAQ:TSLA), Rivian Automotive (NASDAQ:RIVN)
- Rivian's $6.6 billion federal loan is uncertain due to a review by the Trump administration, impacting plans to build a factory in Georgia that will produce R2 and R3 electric vehicles.
- The factory is expected to create around 7,500 jobs in the area, and Rivian has begun hiring for construction and management roles despite the uncertainty surrounding the loan.
- Georgia Governor Brian Kemp stated he is unsure about the status of the funds, saying, 'I don’t really know where that stands right now.'
- Rivian's CEO RJ Scaringe believes the loan will accelerate production and support U.S. Leadership in the electric vehicle sector.
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