Key Takeaways Rivian Automotive shares rose Friday, a day after the electric vehicle maker announced it had finalized a federal loan worth up to $6.6 billion to build a factory in Georgia.The plant—set to be built "less than one hour's drive from downtown Atlanta,

Loan Programs Office (LPO) announced today the closing of a $6.57 billion loan ($5.975 billion of principal and $592 million of capitalized interest) to Rivian New Horizon," the U.S. Department of Energy said.

The Biden administration has finalized a massive loan to electric vehicle (EV) maker Rivian just days before President-elect Trump takes office. The $6.57 billion loan will finance an electric