The change comes as a result of a smaller loan — $4.5 billion, instead of $6.6 billion — from the Department of Energy.
Rivian has reworked its loan deal with the Department of Energy and now expects to borrow $4.5 billion to build its new factory in Georgia, down from the original amount of $6.6 billion.
At the start of October, Bitzer Scroll’s factory in DeWitt, New York, faced a sudden setback: the Department of Energy (DOE) abruptly canceled a $5 million federal grant crucial to the company’s $25 ...