Under the Wire: Biden Admin To Lend $6 Billion to EV Company Just Before Leaving Office

Government

President Joe Biden's Energy Department announced on Monday that it plans to lend $6 billion to Rivian—a company that only makes electric vehicles—to build an electric car factory in Georgia just before Biden leaves office. Department of Energy and Rivian are expected to sign the agreement, making the loan binding, before Trump takes office in January, the New York Times reported . The Rivian loan is one of more than a dozen green energy loans, worth more than $25 billion, that the Biden