Rivian Reduces DOE Loan for Georgia Plant but Accesses Funds Earlier, Reports Smaller Q1 Loss
Rivian (RIVN) reported a smaller-than-expected Q1 loss and reaffirmed its outlook, while announcing a reduced DOE loan for its Georgia plant. The loan amount was cut from $6.6 billion to $4.5 billion, but the company will start accessing the funds in 2027 instead of 2028. Rivian plans to increase the plant's initial capacity by 50% to 300,000 units.
Tickers: $RIVN
Topics: capacity expansion DOE loan Georgia plant Q1 earnings Rivian