US to finalize billions in funding for Rivian and Plug before Trump.
The Biden administration is poised to finalize billions of dollars in financing for electric-vehicle maker Rivian Automotive Inc (RIVN). and hydrogen manufacturer Plug Power Inc (PLUG) before the Trump administration takes power next week, according to people familiar with the matter.
Financing for the two companies comes as the Energy Department’s loan program — which effectively became a $400 billion-strong green bank during Joe Biden’s presidency — faces new threats from the incoming administration of Donald Trump, who will be inaugurated Monday.
Source: FINANCE