economy

April 30, 2026

Rivian renegotiates DOE loan down to $4.5 billion, adjusts capacity plans for Georgia plant

The DOE loan was previously set to support two phases of production for a total of 400,000 units annually.

Rivian renegotiates DOE loan down to $4.5 billion, adjusts capacity plans for Georgia plant

TL;DR

  • Rivian renegotiated a $6.57 billion DOE loan to $4.5 billion.
  • The Georgia plant's production capacity is adjusted to 300,000 vehicles annually, down from 400,000.
  • The company will tap into the loan in 2027, a year earlier than planned.
  • Production of the R2 electric vehicle is set to begin at the Georgia facility in late 2028.
  • Rivian reported a first-quarter net loss of $416 million, with revenue at $1.38 billion.
  • Gross profit for the quarter was $119 million, down from the previous year.
  • Declines in automotive profit were attributed to reduced sales of regulatory credits and lower production volumes.

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