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.
"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."
Read at insideevs.com
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