"Rivian's Georgia factory will produce more vehicles in its initial phase than previously announced, with a starting annual capacity of 300,000 units, up from 200,000."
"The company plans to borrow $4.5 billion through the Department of Energy to build the facility, down from $6.6 billion, and will start drawing on the loan in 2027."
"Rivian expects to reach the scale it needs to achieve positive free cash flow with a combined capacity of 515,000 vehicles from its Georgia and Illinois plants."
Rivian's Georgia factory will begin production in late 2028 with an initial capacity of 300,000 units, increased from 200,000. The company plans to borrow $4.5 billion from the Department of Energy for the facility, down from $6.6 billion, and will start drawing on the loan in 2027. The factory will produce vehicles based on Rivian's midsized platform, including the R2 and a robotaxi variant for Uber. Rivian aims for a combined capacity of 515,000 vehicles to achieve positive free cash flow.
Read at insideevs.com
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