Rivian Secures $6.6 Billion DOE Loan to Expand U.S. EV Production

Georgia, USA – Rivian Automotive has received a conditional $6.6 billion commitment from the U.S. Department of Energy’s ATVM Loan Program to boost its electric vehicle production.

The loan will fund the construction of a new facility in Stanton Springs North, Georgia, and support the development of Rivian’s midsize R2 and R3 vehicle platforms, targeting affordability and high performance.

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The plant, set to begin production in 2028, will have an annual capacity of 400,000 vehicles across two phases. It is expected to create 7,500 permanent jobs and 2,000 construction jobs, enhancing the regional economy.

“This loan will help create thousands of jobs and strengthen U.S. EV leadership,” said Rivian CEO RJ Scaringe.

The facility will complement Rivian’s operations in Normal, Illinois, and expand the company’s ability to meet growing U.S. and international demand. The project highlights Rivian’s commitment to innovation, sustainability, and affordable EV solutions while bolstering the nation’s role in the global transition to electric transportation.

Source: Rivian Secures Conditional $6.6 Billion Loan Commitment from U.S. Department of Energy for Advanced Vehicle Manufacturing