Rivian, energy department to finalize loan before Trump takes over source
Rivian will not actively oppose unionization at plant as part of loan conditions source
Rivian39;s Georgia plant to be operational in 2028
Rivian shares down 50 this year due to production struggles and part shortage

SAN FRANCISCO, Reuters 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 maker39;s production facility in Georgia.

The announcement comes ahead of the inauguration of Presidentelect Donald Trump, who is expected to undo many of the Biden administration39;s EVfriendly policies and incentives.

Operation of the Georgia plant, where Rivian plans to build future vehicles such as its smaller, less expensive R2 SUVs and R3 crossovers, will begin in 2028, the Californiabased startup said in a statement.

Rivian shares are down about 50 this year as the young company has struggled to produce its roomy electric SUVs and pickup trucks while grappling with a part shortage, and has pushed to slash costs.

To conserve cash and hasten the production of R2 seen critical to Rivian39;s success amid a slowdown in EV growth Rivian paused construction of the Georgia plant earlier this year.

It instead decided to start building R2 in 2026 at its Normal, Illinois plant where it makes its flagship R1S SUVs and R1T pickup trucks.

This loan would enable Rivian to more aggressively scale our…