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The landscape is rapidly changing for electric vehicles again. Rivian was approved for a $6.6 billion loan under the Biden administration that might be canceled under Trump budget cuts. Investors are losing confidence, creating financial hurdles. 

Rivian could lose $6.6 billion loan under Trump 

Some drivers feel as if the government was forcing electric vehicles on American citizens. Others felt like going green is the right choice with EVs. But all arguments aside, A $6.6 billion federal loan now hangs in the balance. 

Biden approved the loan for Rivian during his final days of office. But then Trump came in and started repealing EV mandates despite potentially purchasing $400 million worth of armored Tesla Cybertruck models. 

The loan was intended to help the automaker build a nine-million-square-foot facility to produce 400,000 EVs a year in Georgia. It would also employ 7,500 people. 

However, the Rivian R1T and R1S haven’t been able to turn a profit. Sales of the trucks and SUVs have been stuck around 50,000 units due to supply chain issues and a lawsuit from Tesla. 

According to AutoBlog, Georgia Governor, Brain Kemp shared that the funding could be cut. He mentioned that the Trump administration could cancel the loan and he doesn’t know where things stand at the moment. 

The electric automaker plans to build in Georgia either way, It may need to seek alternative funding to continue its expansion goals. The factory would build smaller R2 and R3 SUVs in an attempt to increase profits. 

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Staff Writer

Allison Barfield

Allison Barfield is a MotorBiscuit Staff Writer and covers all things Trucks and SUVs. Having grown up on a farm in Rock Hill, South Carolina, she’s no stranger to the “Best in Class” truck debates; people in her hometown were always gathering to help work on vehicles together, and deliberation would naturally arise.

Allison graduated from the University of South Carolina with a degree in Media Arts. She lives in a mountainous area of the country and enjoys off-roading and camping. Her dog, Bruce, often joins her on test drives.