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Rivian Automotive says it has renegotiated a $6.57 billion loan from the U.S. Department of Energy.
Rivian has renegotiated its DOE loan from $6.57 billion to $4.5 billion.
KEY POINTS
- The amended loan now supports one phase at 300,000 units, down from two phases totaling 400,000.
- Rivian will access the DOE loan in 2027, a year earlier than previously planned.
- Production of Rivian's R2 electric vehicle at the Georgia facility is scheduled to begin in late 2028.
COMPANIES
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