Rivian has reworked its loan deal with the Department of Energy and now expects to borrow $4.5 billion to build its new factory in Georgia, down from the original amount of $6.6 billion.
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Rivian downsizes DOE loan to $4.5B, while boosting capacity of Georgia factory
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It’s interesting to see Rivian adjusting its loan deal while expanding its factory capacity in Georgia. This could be a significant step for the company’s growth and innovation in the electric vehicle market. Looking forward to seeing how this impacts their future developments!