American electric vehicle maker Rivian Automotive has received a conditional commitment for up to $6.6 billion from the U.S. Department of Energy’s (DOE) Advanced Technology Vehicle Manufacturing (ATVM) Loan Program. The loan aims to accelerate Rivian’s growth and reinforce its leadership in electric vehicle (EV) design, development, and production within the United States.
The funding, which includes $6 billion in principal and $600 million in capitalized interest, would support the construction of Rivian’s next manufacturing facility in Stanton Springs North, near Social Circle, Georgia. This new plant would significantly expand Rivian’s production capacity to meet domestic and international demand for its vehicles. The loan would focus on the production of Rivian’s midsize platform, which includes the upcoming R2 SUV and the R3/R3X crossover models. These vehicles are designed to combine advanced functionality, performance, and competitive pricing, making them key drivers of Rivian’s long-term growth and profitability.
Supporting U.S. Manufacturing Leadership
The DOE loan represents a major investment in the U.S. automotive industry, promoting job creation and bolstering America’s position as a global leader in EV production. Rivian plans to construct the Georgia facility in two phases, with each phase delivering an annual production capacity of 200,000 units. Once complete, the plant will have a total capacity of 400,000 vehicles per year, enabling Rivian to meet rising demand in both U.S. and global markets.
Phase 1 of the project is expected to begin production by 2028. The facility is projected to create approximately 7,500 operational jobs by 2030, in addition to 2,000 construction jobs during its development. These new roles will complement the thousands of jobs Rivian has already generated at its existing manufacturing site in Normal, Illinois, which has been a vital contributor to the regional economy.
Advancing Rivian’s Midsize EV Lineup
Rivian’s R2 and R3 vehicle lines are designed, engineered, and built in the U.S. with a focus on capability, affordability, and performance. The midsize SUV and crossover models are expected to be critical for Rivian’s long-term market strategy, appealing to a broader customer base while strengthening its position in the competitive EV market.
“This loan will help create thousands of new American jobs and further strengthen U.S. leadership in EV manufacturing and technology,” said Rivian Founder and CEO RJ Scaringe. “It will allow Rivian to scale our U.S. manufacturing footprint more aggressively and bring our R2 and R3 vehicles to market, emphasizing capability and affordability. A robust ecosystem of American companies in the EV space is essential for maintaining U.S. leadership in transportation.”
Sustainable Development and Community Investment
The planned Stanton Springs facility will feature state-of-the-art construction techniques and advanced environmental management systems. Rivian also aims to preserve surrounding natural spaces while actively investing in nearby communities to foster economic and social growth.
The site is located less than an hour from Atlanta, ensuring access to a strong talent pool and logistical advantages. Rivian’s approach to sustainable development aligns with its broader mission to support the EV ecosystem and reduce environmental impact.
DOE’s Legacy in EV Manufacturing
The DOE’s ATVM Loan Program has played a pivotal role in advancing U.S. EV manufacturing. Past recipients of DOE loans, including General Motors and Tesla, have leveraged these investments to grow their operations and drive innovation in the industry. Rivian’s conditional commitment underscores the DOE’s continued commitment to supporting the transition to electric mobility.
Next Steps in Finalizing the Loan
Although the conditional commitment indicates the DOE’s intent to fund the project, Rivian must meet specific technical, legal, environmental, and financial criteria before the loan is finalized. Once these conditions are satisfied, definitive financing agreements will be executed, and funds will be disbursed. The loan, if finalized, will be secured by all project assets, fixed assets, and guarantees from Rivian Automotive, Inc. and its subsidiaries.
This milestone highlights Rivian’s ambitious plans to scale its operations and strengthen its position in the EV market while contributing to the broader goal of enhancing U.S. manufacturing capabilities in this strategically important sector.
