Rivian said on Monday it has received conditional approval for a loan of up to $6.6 billion from the U.S. Department of Energy to build the electric vehicle maker's production facility in Georgia. The announcement comes ahead of the inauguration of President-elect Donald Trump,

Months after Rivian halted construction of its east Georgia factory, a lifeline from the federal government could help it restart the highly anticipated project. Why it matters: Rivian's planned 2,000-acre compound roughly 50 miles east of Atlanta,

The US Department of Energy will loan Rivian $6.6 billion to build an electric vehicle factory in Georgia, as Democrats scramble to finalize their climate agenda before Donald Trump takes office. Rivian said it received “conditional commitment” for its application to the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program,