Biden administration provides 9 trillion loans to Rivian Georgia plant

The Biden administration in the United States has decided to provide $6.6 billion in loans to Rivian, its electric vehicle company, and 9.2 trillion won in our money.

The U.S. Department of Energy has decided to implement a high-tech vehicle manufacturing loan program that offers low-interest loans to make fuel-efficient vehicles and components, AP and Bloomberg reported.

Rivian was building a $5 billion plant outside Atlanta, but stopped it in March due to funding problems and plans to complete construction of the plant in Georgia with the aid.

Rivian will begin production of its small sports utility vehicle, the R2, from its Georgia plant in 2028 and build 400,000 vehicles a year in the coming years.

However, it is unclear whether the Biden administration will be able to complete the loan aid process before Trump takes office, who opposes eco-friendly policies and support for electric vehicles, and whether Trump will try to withdraw the money.