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Steady2 stories2 sourcesLast updated: 4/30/2026
Related Topicsriviandepartment of energynormal illinoisloan modificationelectric vehicle manufacturingr2 suvuberrobotaxi

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Rivian Secures $4.5B DOE Loan for Georgia Factory, Expands Capacity to 300K Vehicles
NEWS
4/30/2026AI summary

Rivian Secures $4.5B DOE Loan for Georgia Factory, Expands Capacity to 300K Vehicles

Rivian has renegotiated its DOE loan down to $4.5 billion from $6.6 billion and will draw the funds in early 2027. The company plans to increase Georgia factory capacity from 200,000 to 300,000 vehicles in its initial phase, a 50% boost to lower per-unit costs. The expanded capacity will support production of R2 SUVs and robotaxis for Uber, which invested $300 million and plans to purchase up to 50,000 autonomous vehicles. Rivian reported Q1 2026 revenue of $1.38 billion and a reduced loss of $416 million.

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TechCrunch
Rivian Reduces Georgia Factory Capacity to 300,000 Vehicles, DOE Loan Cut to $4.5B
NEWS
4/30/2026AI summary

Rivian Reduces Georgia Factory Capacity to 300,000 Vehicles, DOE Loan Cut to $4.5B

Rivian announced it will reduce planned annual production capacity at its Georgia factory from 400,000 to 300,000 vehicles following a revised loan agreement with the US Department of Energy. The DOE loan has been cut from $6.6 billion to $4.5 billion, negotiated under the Trump administration. The company broke ground on the facility late last year and expects to begin production in Georgia by late 2028, with first loan draw expected by early 2027. Rivian also reported rising revenue in its first quarter earnings.

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The Verge