Rivian Receives Conditional Commitment for up to $6.6 Billion Loan from the U.S. Department of Energy's Advanced Technology Vehicle Manufacturing (ATVM) Program
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Rivian Automotive has received a conditional commitment for a $6.6 billion loan from the U.S. Department of Energy's ATVM Program to boost its electric vehicle operations.
November 26, 2024 | 4:30 am
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Rivian Automotive has secured a conditional commitment for a $6.6 billion loan from the U.S. Department of Energy's ATVM Program. This funding is intended to accelerate Rivian's growth in electric vehicle design, development, and manufacturing.
The conditional loan commitment from the U.S. Department of Energy is a significant financial boost for Rivian, supporting its expansion in the electric vehicle market. This could positively impact Rivian's stock price as it enhances its production capabilities and market position.
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