Biden administration preliminarily OKs $6.6B loan to EV maker Rivian ...Middle East

The Hill - Technology
Biden administration preliminarily OKs $6.6B loan to EV maker Rivian
source : The Hill ( Middle East ) () 81
The Biden administration has preliminarily said it would give a $6.6 billion loan to electric vehicle maker Rivian for a plant in Georgia.  The administration said the loan would support the construction of a facility where Rivian will make up to 400,000 “mass-market” electric SUVs and crossovers.  Specifically, it will support construction of Rivian’s R2 and R3 models, which the company says will be sold at a “significantly lower price point” than its flagship R1 vehicle, which is considered to be a luxury car. The announcement comes as the incoming Trump administration is poised to take aim at EVs. Trump has pledged to roll back standards that are expected to force traditional

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