Rivian Reduces EV Factory Capacity Due to Smaller DOE Loan
Rivian has scaled back its new EV factory in Georgia due to a reduced $4.5 billion loan from the U.S. Department of Energy, down from the originally agreed $6.6 billion. The company now plans for 300,000 annual production capacity instead of 400,000. The change reflects the impact of the Trump administration's revised loan terms.
Tickers: $RIVN
Topics: Electric Vehicles Factory Construction Government Loans Rivian Trump Administration