The U.S. Department of Energy will lend $6.6 billion to Rivian to build an electric vehicle factory in Georgia, as Democrats push to finalize their climate agenda before Donald Trump takes office.

Rivian, lacking funds to start the construction process, suspended plans for a Georgia factory earlier this year. The company has lost significant amounts since its IPO in November 2021, including $1.1 billion in the last quarter. The company recently said it expected to lose up to $2.88 billion in adjusted profit for the year, up from previous guidance of $2.7 billion in losses. And it has experienced several waves of layoffs over the past two years.

Rivian said it received a “conditional commitment” for its application for the Advanced Technology Vehicle Manufacturing (ATVM) loan program, which was resurrected by President Joe Biden in 2022. The company says it will work with the DOE to close the loan “promptly.” highlighting the race against time aspect that Democrats and electric vehicle companies experienced before Trump became president.

Trump has promised to reverse much of Biden’s spending on electric vehicles once he takes office. He said he would eliminate the $7,500 tax credit for purchasing new electric vehicles and eliminate the rest of the Inflation Reduction Act spending. It is assumed that this will also include the ATVM loan program.

The loan program achieved near-mythical status in the world of electric vehicle startups thanks to its timely $465 million loan to Tesla in 2009, which reportedly helped save the company from an untimely death. But the program lay fallow during the first Trump administration, with a number of cash-strapped electric vehicle startups receiving no responses to funding requests.

The Georgia plant is key to Rivian’s plans to expand its manufacturing capabilities and broaden its lineup, including the more affordable R2 and R3 vehicles. The company says more than 2,000 full-time workers will be needed for its construction. The plant will begin operations in 2028 and employ 7,500 people by 2030, Rivian said.

This loan would be the first to support the production of electric vehicles, rather than their components, the DOE said in a statement. The factory, called Project Horizon, will be located in Stanton Springs North near Social Circle, Georgia, 45 miles east of Atlanta. In 2022, the Georgia state government approved a $1.5 billion tax incentive for the plant. The plan has been a “lightning rod” in the state, with opponents organizing ralliesdabbling in conspiracy theories and even threatening local officials.

Rivian also recently closed a $5.8 billion funding commitment from Volkswagen to create a new joint venture for future software and electric drivetrain production. With today’s news, Rivian is trying to project confidence in its long-term survival – especially with the new Trump administration expected to be less friendly to electric vehicle companies.