Rivian is ready to restart construction of its East Georgia plant. They company confirmed that it is getting a new federal loan that will give the auto maker a jump start.
Rivian confirms it is receiving a conditional loan of more than $6 billion from the Department of Energy to help expand EV production. According to Bloomberg, this cash injection will support construction of its stalled plant about an hour east of Atlanta.
Plans to build the plant were put on hold earlier this year in a decision aimed at cutting costs. Bloomberg reports that the company announced that the factory will be built in two phases each with annual capacity of 200,000 vehicles. In 2022, Rivian secured a $1.5 billion package of state and local incentives — the biggest in Georgia’s history — to build the massive plant outside of Atlanta. At the time, the company pledged to create 7,500 jobs by the end of 2028. The company’s only production facility at the moment, is located in Illinois.
Rivian now says it is on track to create 7,500 operations jobs by 2030. as well as another 2,000 full-time construction jobs.
Sign Up
