Rivian's $6.6B Georgia Loan

Rivian's Georgia project has experienced significant shifts since its initial announcement:

• December 2021: Rivian unveils plans for a $5 billion manufacturing plant in Georgia, promising 7,500 jobs
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• March 2024: The company announces a pause in construction, citing a need to focus on existing production in Illinois
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• October 2024: Reports indicate Rivian's Georgia plant could begin EV production in 2027, based on a federal loan application
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• November 2024: Rivian secures a conditional commitment for a $6.6 billion loan from the U.S. Department of Energy, potentially reviving the Georgia project
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This latest development could breathe new life into Rivian's Georgia plans, although the company must still meet specific technical, legal, and financial conditions before the loan is finalized

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. The state has already invested over $200 million in projects associated with the plant, underscoring the economic stakes involved

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https://www.perplexity.ai/page/rivian-s-6-6b-georgia-loan-Pe_mOb9TQSyBcyjXWunJ_A

Pete