U.S. Department of Energy Backs Rivian with $6.6 Billion Loan for EV Expansion

November 27, 2024 – Yesterday, local time in California, Rivian, the American pure electric vehicle company, announced that the U.S. Department of Energy has conditionally committed to providing a total loan of 6.6billionundertheATVM(AdvancedTechnologyVehiclesManufacturing)program.Thisloan,whichincludes6 billion in principal and $600 million in capitalized interest, is intended to support Rivian’s expansion plans. If finally approved, the loan will…

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Rivian Uncovers: Xiaomi SU7 Reveals China’s Supply Chain Advantage, Cutting Costs by 20%-40%

September 14, 2024 – In a surprising revelation, American electric vehicle upstart Rivian has procured the Xiaomi SU7 for benchmarking purposes, as reported by automotive outlet insideevs on September 12th. The publication hailed the SU7 as the ‘Chinese Apple Car’ in its headline, highlighting the vehicle’s significance. The confirmation came from Rivian CEO RJ Scaringe…

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Rivian Factory Blaze Damages Multiple Electric Vehicles in Illinois

August 27, 2024 – A major incident unfolded at Rivian’s manufacturing facility in Normal, Illinois, over the weekend, as a fire ravaged through the premises, resulting in significant damage to several electric vehicles, though thankfully, no injuries have been reported. According to Matt Swaney, spokesperson for the Normal Fire Department, emergency responders were dispatched to…

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