The Biden administration said on Monday that it would lend $6 billion to help Rivian build an electric car factory in Georgia, part of an effort to lock in Democratic climate policies before President-elect Donald J. Trump takes office.
Rivian, a relatively new company that makes only electric vehicles, plans to produce sport utility vehicles and hatchbacks at the factory, in Social Circle, Ga., near Atlanta.
The loan agreement will be binding once the Department of Energy and Rivian sign a contract, which is expected to take place before Mr. Trump’s inauguration in January.
to close the loan quickly,” the company said in a statement.
The project is in a congressional district represented by a Republican, highlighting how much Biden administration clean energy policies have benefited regions where most voters back conservative politicians, including Mr. Trump.
Persons:
Biden, Donald J, Trump, Trump’s, “
Organizations:
Department of Energy, Republican, Biden
Locations:
Georgia, Atlanta