Rivian CFO Says EV Maker Won’t Tap US Government Loan Until 2028

Rivian Automotive Inc. expects to draw on a $6.6 billion US government loan after building a new plant in Georgia but before starting production in 2028, according to its chief financial officer.
CFO Claire McDonough said the electric-vehicle maker anticipates starting construction on the factory next year and seeking reimbursement from a US Department of Energy loan once it’s completed. “It’d be prior to starting production in 2028 that we’d be drawing down the loan,” she told reporters Tuesday in Detroit.