Rivian put plans for its second plant on hold after hard times hit. However, the EV maker has not totally abandoned the Georgia-based plant, as it is pursuing a federal loan to finance the project.
Rivian changed its expansion plans after a cash crunch this year. The startup was going to manufacture its next-generation car, the R2, in a new $5 billion production facility in Georgia. However, Rivian was forced to move the production to Normal, Illinois, when it put the new factory on hold to slash its cash burn rate. The new strategy will also bring the more affordable EV to the market faster.
A new filing on the Department of Energy’s website shows that the Georgia plant could start production in Q3 2027 if its loan application is approved. Rivian expects the plant to run at full capacity by 2028, generate about 7,500 jobs, and produce 400,000 vehicles per year by 2030.
The filing does not reveal the proposed loan’s value or terms and conditions. However, Rivian said shifting the R2 production to Normal would save it $2.5 billion.
Georgia granted Rivian its biggest package incentives ever of $1.5 billion for the privilege of hosting the factory.
