Rivian Reduces DOE Loan for Georgia Factory to $4.5 Billion
Rivian has reduced its Department of Energy loan for its Georgia factory from $6.6 billion to $4.5 billion and plans to draw on the loan earlier than previously scheduled. The company also plans to increase the factory's initial production capacity to 300,000 vehicles, which is expected to lower per-unit costs and support future expansion.
Topics: factory expansion funding Georgia loan deal R2 SUV Rivian Uber partnership