BUZZ-Rivian rises after finalizing $6.6 bln DOE loan for Georgia plant

Shares of electric vehicle startup Rivian Automotive RIVN.O up 4.02% at $15.03 premarket

RIVN and U.S. Department of Energy (DOE) finalized loan agreement for up to $6.6 bln to support future Georgia manufacturing site

Fund to create 7,500 jobs in manufacturing and expand production of R2 SUV and R3 crossover

Construction expected to begin in 2026; production of customer vehicles expected to take place in 2028

RIVN stock had jumped 24.5% on Jan 3 after reporting upbeat Q4 deliveries, but has since fallen 12.6% as of last close

Volkswagen VOWG_p.DE is considering ways to deepen partnership with RIVN, CEO Oliver Blume told Spiegel magazine in comments published on Friday

Separately, shares of hydrogen fuel cell maker Plug Power PLUG.O rise 1.82% to $2.79, after co closes $1.66 bln loan guarantee from U.S. DOE's loan programs office

In 2024, RIVN stocks fell 43.31%, while PLUG dropped 52.7%

(Reporting by Sanchayaita Roy in Bengaluru)

((sanchayaita.roy@thomsonreuters.com))