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Rivian has finalized a $6.6 billion loan agreement with the U.S. Department of Energy (DOE) to support the construction of its next-generation manufacturing facility in Georgia. The Stanton Springs North plant will bolster U.S. leadership in electric vehicles, create over 7,500 jobs, and ramp up production of Rivian’s upcoming R2 SUV and R3 crossover models. Construction is slated to begin in 2026, with production starting in 2028.
Key Highlights
- Loan Details: $6.6 billion total, including $6 billion in principal and $600 million in capitalized interest, split across two phases of facility development.
- Job Creation: The project will generate over 7,500 new jobs, with recruitment already underway in Georgia for initial roles.
- Timeline: Construction starts in 2026, customer vehicle production begins in 2028.
- Focus on Innovation: The facility will employ advanced construction methods and environmental management, preserving natural spaces and supporting local communities.
Rivian’s collaboration with the DOE on this loan spans over two years, reflecting the importance of the project in advancing American electric vehicle innovation. “This loan will help us accelerate the launch of our Georgia plant for R2 and R3, providing thousands of jobs in the state,” said Rivian Founder and CEO RJ Scaringe. “People are incredibly excited to get behind the wheel of our new models, and this additional capacity for our mass-market products is key to U.S. leadership in the electric vehicle industry.”
The Stanton Springs North site is strategically located less than an hour from Atlanta and is set to become a benchmark for modern automotive manufacturing. The plant will incorporate state-of-the-art techniques and prioritize sustainability, aligning with Rivian’s commitment to environmental stewardship.
This investment underscores Rivian’s ambitious vision to expand its market presence and accelerate the transition to electric mobility, reinforcing its position as a key player in the EV sector.
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