Shares of Rivian Automotive fell by 6.5% Tuesday. President Donald Trump's repeal of a 2021 executive order by former President Joe Biden has sent EV-related stocks lower.

Shares of Rivian and Lucid are trading lower Tuesday as the EV sector reacts to major policy changes from President Donald Trump.

Rivian CEO RJ Scaringe told Business Insider that the Biden era EV incentives were a "tailwind," but that the business will be fine without them.

Shares of Rivian Automotive (NASDAQ: RIVN) slumped today and were trading nearly 7% lower as of 1:30 p.m. ET Tuesday. With Donald Trump taking the oath of office on Monday and revoking as many as 78 executive orders signed by his predecessor Joe Biden -- including one on electric vehicles (EV) -- investors in Rivian are feeling jittery.

The Department of Energy announced Thursday the closing of $6.6 billion in financing for Rivian to construct a Georgia manufacturing plant.

Outgoing US President Joe Biden approves funding for clean energy projects just days ahead of President-elect Donald Trump's return to the White House. The funding includes $6.6 billion for electric truck maker Rivian (RIVN) and $1.

Automakers have been competing to introduce more autonomous driving features such as lane-keep assist and adaptive cruise control into their vehicles.

The U.S. Department of Energy gave final approval Thursday to electric vehicle maker Rivian for a $6.6 billion loan to support its stalled Georgia factory, a huge infusion of cash intended to ensure the plant gets built.

After a pause due to high costs, the electric vehicle manufacturer anticipates work on the project near Atlanta to begin in 2026.

Rivian announced it ill go hands-free in 2025 and “eyes-off” in 2026. Electric-vehicle maker Rivian plans to launch its advanced hands-free driver assistance systems in 2025 and its “eyes-off” systems in 2026, CEO R.J. Scaringe said on Thursday.

WASHINGTON — The Biden administration has distributed at least $27.6 billion of dollars in financing to clean-energy companies in its final days before President-elect Donald Trump takes office.

Electric-vehicle maker Rivian plans to launch its advanced hands-free driver assistance systems in 2025 and its "eyes-off" systems in 2026, CEO RJ Scaringe said on Thursday.