Rivian Automotive (RIVN) Stock

Quite unexpectedly, 2024 has not been a good year for electric vehicle makers thus far — at least for most of them. An unfavorable macro environment and stubborn supply chain issues, coupled with slowing demand have come together to form a market where just a couple of carmakers can win — while others are resigned to seemingly endless struggles.

RIVN gets conditional approval for a loan of up to $6.6 billion from the U.S. Department of Energy to build an EV production plant in Georgia.

The Department of Energy's Advanced Vehicle Technology Manufacturing plans to loan small EV company Rivian Automotive (NASDAQ: RIVN) $6.6 billion.

I have a few central themes for 2025. Yesterday we discussed one of them: vanity stocks.

Rivian Automotive Inc (NASDAQ:RIVN) has secured a conditional loan worth up to $6.6 billion from the US Department of Energy's Advanced Technology Vehicle Manufacturing Loan Program which will be used to support the construction of its Georgia EV factory. The company intends to build the Georgia facility in two stages, each adding 200,000 units of annual production capacity for a total of 400,000 units.

Investors are digesting a flurry of news surrounding electric vehicle (EV) maker Rivian Automotive (RIVN 1.94%). It seems the market doesn't know what to make of the mixed bag of information either.

If Rivian's $6.6 billion government loan gets approved, it will support the construction of the EV maker's new production facility in Georgia.

The company's shares have started the week on a tear, despite the expectation that Donald Trump will eliminate EV tax credits.

Rivian said it will use a $6.6 billion government loan to “aggressively” scale manufacturing of its R2, which is coming in 2026.