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American all-electric automaker Rivian Automotive has announced a conditional commitment from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing (ATVM) Loan Program for a loan of up to $6.6 billion. This funding aims to accelerate the growth of Rivian’s electric vehicle production in the United States, enabling the company to strengthen its leadership in the EV market.
Key Highlights:
- The loan supports the construction of Rivian’s new facility in Stanton Springs North, Georgia.
- Expansion will increase production capacity to support both U.S. and international demand.
- Facility to produce Rivian’s R2 midsize SUV and R3/R3X midsize crossover models.
- Estimated 7,500 operations jobs will be created by 2030, plus an additional 2,000 construction jobs.
- Phase 1 of production is expected to begin in 2028, leading to a total production capacity of 400,000 units annually.
The loan, if finalized, would support the construction of Rivian’s next production facility near the city of Social Circle, Georgia, significantly expanding Rivian’s domestic production capacity. This expansion aims to support the growing demand for electric vehicles both in the United States and international markets. The facility will produce the company’s midsize platform, which includes the R2, a midsize SUV, and the R3/R3X, a midsize crossover. Both models are designed, engineered, and built in America to deliver a balance of capability, function, performance, and affordability.
The Department of Energy loan is expected to contribute significantly to the U.S. automotive industrial base, supporting job creation and investment in this rapidly growing sector. Rivian plans to build the facility in two phases, each capable of producing 200,000 units annually, bringing the total capacity to 400,000 units per year. The project is anticipated to create 7,500 operational jobs by 2030, in addition to the 2,000 construction jobs needed during the facility’s development.
Phase 1 of the project is scheduled to commence production in 2028. This new production capability will be in addition to the operations at Rivian’s current facility in Normal, Illinois, which has already been a significant boost to the local economy by creating numerous jobs and stimulating regional economic growth.
Rivian Founder and CEO RJ Scaringe stated, “This loan will help create thousands of new American jobs and further strengthen U.S. leadership in EV manufacturing and technology. This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 and R3 vehicles that emphasize both capability and affordability. A robust ecosystem of U.S. companies developing and manufacturing EVs is critical for the U.S. to maintain its long-term leadership in transportation.”
The new facility will be located at the Stanton Springs site, less than an hour’s drive from downtown Atlanta, utilizing modern construction methods, advanced environmental management, and preserving natural spaces while investing in the local community.
The ATVM Loan Program has historically played a crucial role in supporting American EV manufacturing by providing billions in financing to companies like General Motors and Tesla. While the conditional commitment signifies the Department of Energy’s intent to finance Rivian’s expansion, both parties must still meet specific technical, legal, environmental, and financial conditions before the loan is finalized. If approved, the loan would be secured by the assets of the project and guarantees from Rivian Automotive, Inc. and its subsidiaries.
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