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Rivian Secures $6.6 Billion Loan for Georgia Factory

1/17/2025

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Summary

Story summary

Rivian Automotive has landed a significant $6.6 billion loan from the U.S. Department of Energy, paving the way for a new manufacturing facility in Stanton Springs, Georgia. This ambitious project is set to generate 7,500 jobs and ramp up production of the highly anticipated R2 SUV and R3 crossover, with construction kicking off in 2026 and vehicles rolling off the line by 2028.

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Story summary

Rivian Automotive has landed a significant $6.6 billion loan from the U.S. Department of Energy, paving the way for a new manufacturing facility in Stanton Springs, Georgia. This ambitious project is set to generate 7,500 jobs and ramp up production of the highly anticipated R2 SUV and R3 crossover, with construction kicking off in 2026 and vehicles rolling off the line by 2028.