Rivian downsizes new EV factory after Trump’s DOE slashes loan agreement
Rivian has revised its production goals for its Georgia electric vehicle factory, reducing planned annual capacity from 400,000 to 300,000 vehicles due to a smaller $4.5 billion loan from the Department of Energy instead of the originally expected $6.6 billion. The company plans to begin drawing on the loan by early 2027 and start vehicle production in Georgia by late 2028, while maintaining potential for future expansion. This adjustment follows a 2024 pause in construction and negotiations under a new presidential administration less supportive of EV initiatives.
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TransportationCloseTransportationPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All TransportationNewsCloseNewsPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All NewsElectric CarsCloseElectric CarsPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All Electric CarsRivian downsizes its goals for its EV factory in GeorgiaThe change comes as a result of a smaller loan — $4.5 billion, instead of $6.6 billion — from the Department of Energy.The change comes as a result of a smaller loan — $4.5 billion, instead of $6.6 billion — from the Department of Energy.by Andrew J. HawkinsCloseAndrew J.
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