Rivian downsizes DOE loan to $4.5B for Georgia factory

• 📉 Rivian has renegotiated its federal loan agreement with the U.S. Department of Energy.
• 💰 The total borrowing amount has been reduced to $4.5 billion, down from the initial $6.6 billion target.
• 🏗️ The updated funding package is designated for the construction of the company's new manufacturing facility in Georgia.