Rivian applies for federal loan to restart Georgia EV factory construction [⚠️ ADMIN WARNING: NO POLITICS]

[Jeep Addict]

News about Rivian' s efforts to finance their Georgia plant.

https://www.reuters.com/business/au...t-georgia-ev-factory-construction-2024-10-04/

Link fixed, I hope.

Sponsored

 

[Donald Stanfield]

Link doesn’t work for me. Link fixed.

 

[BigSkies]

I hope they get a sizeable chunk of money from this. It would be great news for the company to get moving on GA again.

I don’t know the details of the program, but I’ve seen some headlines about other EV and battery manufacturers getting big chunks of DOE money for EV plants.

 

[COdogman]

At least $1 billion will be needed to clear the Juggalo infestation before construction can continue.

 

[ndmiller]

At least $1 billion will be needed to clear the Juggalo infestation before construction can continue.

Best shooting range in GA at this point.

 

[SANZC02]

Glad to see movement on this plant as it will be key to mass production for R2/R3 vehicles. I do like that Rivian is trying to stay ahead of the curve for unit capacity.

I have to be honest though, still a little concerned that they are still running into supply chain issues on the much lower volume R1/EDV lines. They really need to get the supply chain issues ironed out or these high volume models could be hard to keep up with.

 

[Florida Panhandler]

At least $1 billion will be needed to clear the Juggalo infestation before construction can continue.

before moving down to this area of the country 6 years ago I didn’t know what you would be talking about, now I know how real a thing this is lol.

 

[COdogman]

before moving down to this area of the country 6 years ago I didn’t know what you would be talking about, now I know how real a thing this is lol.

After they paused construction I suggested Rivian invite them to hold the yearly “gathering of the juggalos” on that property as thank you to the NIMBY neighbors who slowed down the process for so long.

I certainly hope no juggalos actually visited or the land will be uninhabitable.

 

[Jonger1150]

After they paused construction I suggested Rivian invite them to hold the yearly “gathering of the juggalos” on that property as thank you to the NIMBY neighbors who slowed down the process for so long.

I certainly hope no juggalos actually visited or the land will be uninhabitable.

Shaggy 2-Dope called me a "Bitch-boy" in 1998.

Not kidding. I went to a signing meet and greet as a 19 year old at 4 Bears Water Park in Metro Detroit. Finally got to the room with them in it and was insulted, given signatures and told to GTFO.

It was part of the schtick and we loved it.

 

[Katsudon]

Enough cash to launch the R2 and R3 and we will have a viable company. Just need to survive long enough to get the cheaper ride on the road.

I would think VW would inject some more cash to bridge the gap to R2 production if Rivian was actually about to go under. They're relying on Rivian software for their future EVs afterall.

 

[lefkonj]

If America can give billions to the oil industry we can help out Rivian. Notice the words, GIVE not loan GIVE

 

[DuoRivians]

Hope Rivian applied for the full $5B amount. Why not?

 

[Schroederhc]

VW has its own problems. Rivian is a hedge for them.

 

[DJFrerichs]

This a smart move! Depending upon if they can keep up with R2 demand in IL, this would help get R3 going asap as well and then transition into both as demand calls for. Wish this all was happening a year sooner.

 

[BigSkies]

Hope Rivian applied for the full $5B amount. Why not?

While I don’t have knowledge of this program, I’ve been involved in similar state level programs.

They typically have pretty stringent requirements for matching funding, maximum percent of the project that can come from government funding and max amount per project/customer. My guesstimate is they might be eligible for something like 20%-30% of the total project cost.

Sponsored