Rivian Seeks Federal Loan from DOE to Restart $5 Billion Georgia EV Factory by 2028

Oct 4, 2024, 09:00 PM

Rivian has applied for a federal loan to resume construction of its $5 billion factory near Atlanta, Georgia. The construction of the plant, which is crucial for Rivian's long-term production plans, has been paused since March. The company is seeking the loan from the Department of Energy (DOE). If approved, the timeline for full production at the Georgia plant is now targeted for 2028. Rivian is struggling financially.