Rivian Secures DOE Loan to Support Future Georgia Manufacturing Site
The EV maker’s next-generation facility could hire more than 7,500 workers…
Electric vehicle manufacturer Rivian has closed a loan agreement with the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) for up to $6.6 billion (including $6 billion of principal and approximately $600 million of capitalized interest) in financial support for the construction of its next manufacturing facility in Stanton Springs North, near the city of Social Circle, Georgia.
The funds will help secure American leadership in electric vehicles while supporting the creation of 7,500 new manufacturing jobs and accelerating the volume expansion of the company’s new R2 SUV and R3 crossover, officials stated in a press release announcing the loan.
Construction is expected to begin in 2026 with the production of customer vehicles expected to take place in 2028. Rivian and the Department of Energy have worked together for more than two years in order for the loan to proceed to closing, the release noted.
“This loan will help us accelerate the launch of our Georgia plant for R2 and R3, providing thousands of jobs in the state,” said Rivian Founder and CEO RJ Scaringe. “People are incredibly excited to get behind the wheel of our new models, and this additional capacity for our mass market products is key to U.S. leadership in the electric vehicle industry.”
Rivian has already begun hiring in the region for construction and management roles, with multiple open positions statewide. Recruitment is expected to ramp up quickly as facility construction approaches.
The loan will be split across two phases of Rivian’s Georgia facility. Excluding capitalized interest, the first phase is expected to have a loan size up to $3.4B and the second phase up to $2.6B.
Rivian says it plans to design and build a state of the art manufacturing facility at the Stanton Springs site, less than one hour’s drive from downtown Atlanta, employing modern construction techniques and advanced environmental management while preserving natural spaces and investing actively in the surrounding communities.
