Rivian Automotive, the electric vehicle manufacturer based in the United States, has announced a conditional commitment from the Department of Energy’s Advanced Technology Vehicle Manufacturing (ATVM) Loan Program for up to $6.6 billion in financing. The funds are poised to bolster Rivian’s domestic manufacturing capabilities and strengthen its leadership in the electric vehicle (EV) industry.
The loan, if finalized, would support the construction of Rivian’s next major facility in Stanton Springs North, Georgia, a significant expansion aimed at meeting growing demand for electric vehicles both domestically and internationally. The facility is expected to produce vehicles from Rivian’s midsize R2 and R3 platforms, featuring SUVs and crossovers designed to deliver a blend of affordability, performance, and functionality.
“This loan will help create thousands of new American jobs and further strengthen U.S. leadership in EV manufacturing and technology,” said Rivian’s CEO, RJ Scaringe. He emphasized that the funding would accelerate the company’s efforts to scale its manufacturing capabilities while contributing to a robust domestic EV ecosystem.
Massive Job Creation and Economic Impact
The Georgia facility is set to create approximately 7,500 operational jobs by 2030, in addition to 2,000 construction roles. Phase one of the project is slated for completion in 2028, with an annual production capacity of 200,000 vehicles. When fully built, the facility will double its capacity to 400,000 vehicles per year, further cementing Rivian’s position in the global EV market.
The new plant will complement Rivian’s existing factory in Normal, Illinois, which has already generated thousands of jobs and bolstered the local economy.
Commitment to Innovation and Sustainability
The planned Georgia site will incorporate cutting-edge construction techniques and environmental management systems, aligning with Rivian’s commitment to sustainability. Additionally, the company pledges to invest in the surrounding community, enhancing workforce development and preserving local natural spaces.
Strengthening U.S. EV Leadership
The ATVM Loan Program has played a pivotal role in the development of the U.S. EV industry, with previous support for automakers such as Tesla and General Motors. Rivian’s conditional loan commitment marks another significant investment by the DOE in sustaining America’s competitive edge in the EV sector.
While the commitment signals DOE’s intent to back the project, several conditions—including technical, financial, and environmental requirements—must be met before the loan is finalized. Once approved, the loan will be secured by the assets of the project, as well as guarantees from Rivian Automotive and its subsidiaries.
By expanding its production footprint and advancing midsize EV platforms, Rivian aims to drive innovation in electric mobility and reinforce the United States’ position as a global leader in clean energy transportation.