Rivian secures $6.6 billion loan from the Biden administration to build a paused Georgia EV factory

The loan to Rivian could rescue one of Georgia Gov. Brian Kemp’s signature economic development projects even as Biden leaves office.

President Joe Biden’s administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable.