27 Nov 2024 | $7BN Loan For Rivian, Long Range VW Passat PHEV and California Reaches EV Milestone
EV News Daily - Technology and Business of EVs
Martyn Lee
4.8 • 749 Ratings
🗓️ 27 November 2024
⏱️ 20 minutes
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Transcript
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| 0:00.0 | Welcome back to EV News Daily. Coming up today, a $7 billion loan for Rivian, a long-range VW-Pasat |
| 0:06.6 | plug-in hybrid, and a massive milestone for California's EV goals, plus stay tuned, because later in the show, |
| 0:12.3 | I'll tell you why both Germany and the UK are wavering on their climate goals after intense automaker pressure. |
| 0:18.4 | Well, good morning, good afternoon or good evening, wherever you're listening around the world. Welcome to EV News Daily, a trusted source of EV information for |
| 0:24.2 | Wednesday 27th of November. I'm Martin Lee, and I go through every EV story, so you don't have to, |
| 0:30.3 | and welcome to a new Patreon podcast producer. Thank you very much for signing up. How do I say it's |
| 0:35.8 | Oracle if? Or is it |
| 0:37.5 | Orichalif or Oracleif? I don't know. I've never, if it's your name, then I apologize. It's very |
| 0:42.6 | unique. I've never heard it before. Or is it a mash-up of two things like Oracle, a wise person and if, |
| 0:49.6 | like a, you know, kind of programming language. Or either way, I'd love to know. Thank you very much, Sarah or Madam, for signing up to support the podcast. |
| 0:58.4 | Patreon supporters, just like you, get the show now ad-free to save even more time. |
| 1:02.6 | Click on a link in the show notes. |
| 1:04.4 | We'll start with this big bit of Rivian breaking news then, and that is that they have received |
| 1:08.7 | approval, conditional approval, for nearly |
| 1:11.5 | $7 billion loan from the US Department of Energy to build their manufacturing facility in Georgia, |
| 1:17.0 | which was announced in late 2021 after Rivian went public, which was on, then off, and now |
| 1:22.9 | apparently on again with the money. The $5 billion plan is about 45 miles or 70 kilometres or so east of |
| 1:29.4 | Atlanta. It'll make 400,000 vehicles every year, creating 7,500 jobs and focusing on the Rivian R2 |
| 1:35.6 | and R3, but with money being a bit of a crunch at Rivium, that was postponed, never, ever |
| 1:42.4 | cancelled, as far as I understand, the importance of working |
| 1:45.8 | with the state and the local incentives that were on offer were all very important, but they |
| 1:50.8 | were going to start that production at normal Illinois whilst cash flow worked itself out. |
... |
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