Rivian Renegotiates U.S. DOE Loan to $4.5 Billion, Adjusts Georgia Plant Production Plans
Rivian has renegotiated a $6.57 billion U.S. Department of Energy loan down to $4.5 billion, allowing earlier access to funds and higher initial production but reducing total capacity at its Georgia plant. The adjustment reflects uncertain demand for all-electric vehicles and aligns with the company's revised production plans for its R2 electric vehicle, set to begin in late 2028.
Tickers: $RIVN
Topics: electric vehicles loan renegotiation production capacity Rivian U.S. Department of Energy