Biden Administration Approves $6.6 Billion Loan for Loss-Making EV Maker Rivian

The loan will comply with the Biden administration’s goal of investing in ‘disadvantaged communities.’

AP/John Bazemore
Governor Kemp of Georgia stands next to a Rivian electric truck during a ceremony to announce that the electric truck maker plans to build a battery and assembly plant east of Atlanta. AP/John Bazemore

In the closing days of President Biden’s administration, it is handing out billions of dollars in a loan to an electric vehicle maker, Rivian Automotive, even though the company has struggled to become profitable. 

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