After a pause due to high costs, the electric vehicle manufacturer anticipates work on the project near Atlanta to begin in 2026
The Department of Energy announced last week that it has closed a$6.57 billion loan to electric vehicle manufacturer Rivian for an electric vehicle plant that previously had been put on pause.
Rivian getting bailed out by the government with this low cost loan.
The loan willsupport the construction of the 9 million-square-foot manufacturing facility near the city of Social Circle, Georgia, near Atlanta. The project anticipates will create 2,000 full-time jobs through construction, according to the announcement.
Rising costs caused the firm to pause construction of the plant in the spring of 2024. The EV manufacturer — which selected Chicago-based Clayco as the general contractor — said at the time it remained committed to the project.
Zombie economy at work. Crazy the project will be dormant for all of 2025.