Rivian recently announced the closing of a loan agreement with the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) for up to $6.6 billion in financial support for building its next

After a pause due to high costs, the electric vehicle manufacturer anticipates work on the project near Atlanta to begin in 2026.

Shares of Rivian Automotive Inc. rose over 3.6% Friday afternoon, trimming weekly losses a bit, as developments around its Volkswagen joint venture (JV) and advanced driver-assistance systems bolstered retail investor sentiment.

Rivian and the Department of Energy have finalized a $6.6 billion loan announced in November with just a few days left until Donald Trump's inauguration.

Speaking at the opening of a Rivian store in San Francisco on Jan. 23, Scaringe said Rivian is working on technology that will enable supervised hands-free driving later this year, and eyes-off driving as soon as 2026. He said it's a technology the company is “hyper-focused” on, Reuters reported.

Rivian (NASDAQ:RIVN) closes on giant $6.6 billion loan from U.S. Department of Energy (DOE) to fund Georgia's state-of-the-art manufacturing facility. The new plant, to be located at the same location as the old factory of Lordstown Motors Corp.

CEO R.J. Scaringe told InsideEVs that he's not worried about EV tax credits going away—but he is worried the U.S. could fall behind in the race.

The U.S. Department of Energy gave final approval Thursday to electric vehicle maker Rivian for a $6.6 billion loan to support its stalled Georgia factory, a huge infusion of cash intended to ensure the plant gets built.

Rivian (RIVN) already has several automakers reaching out about potential supply deals for software and other EV tech. According

The deal in the waning days of the Biden administration could insulate the loan from attempts to cut back on the Department of Energy’s Loan Programs Office, analysts say.

Rivian has finalized a $6.6 billion loan agreement with the DOE to support the construction of a new manufacturing facility in Georgia.

It's a great sign for Rivian that it's connecting not only with consumers, but also with EV and automotive enthusiasts. That's exactly the goal of the performance-oriented R3X, which will actually begin production before the base R3 model.