Rivian DOE Loan Amendment Boosts Georgia Plant Capacity
Rivian DOE loan amendment trims federal borrowing and expands Georgia capacity, prompting traders to watch the revised ramp, capex and midsize SUV timing
KEY TAKEAWAYS
- DOE loan reduced to $4.5 billion, reshaping project financing and draw timing.
- Phase 1 capacity raised 50.0% to 300,000 vehicles annually to lower per-unit costs.
- R2 midsize SUV production remains targeted for late 2028.
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Rivian amended its Department of Energy (DOE) construction loan on April 30, 2026, reducing total borrowing to $4.5 billion and reconfiguring the Stanton Springs North plant plan to raise initial annual output. The company said this change will lower per-unit manufacturing costs and keep production of the R2 midsize SUV on schedule for late 2028.
Revised Financing and Expanded Plant Capacity
Rivian cut its DOE construction loan by $2.0 billion from the original $6.6 billion finalized in early 2025. The amended $4.5 billion package includes $4.006 billion of principal and $494 million of capitalized interest. The loan will be structured in tranches tied to the updated facility design and capacity, with the first draw expected in early 2027. Despite the reduced loan size, the overall construction timeline remains unchanged.
The Stanton Springs North site, spanning about 2,000 acres in southern Morgan and Walton counties roughly an hour east of Atlanta, will open with an initial annual capacity of 300,000 vehicles, a 50% increase from the prior 200,000 plan. This higher opening capacity aims to improve utilization of capital-intensive parts of the plant early on, lowering per-vehicle manufacturing costs and accelerating the production ramp.
The plant will primarily produce the R2 midsize SUV and is designed to support up to 50,000 fully autonomous Uber robotaxis annually under a commercial partnership starting in late 2028. Rivian has committed $5 billion of company capital to the facility and expects to employ about 7,500 workers, including roughly 500 dedicated to robotaxi production.
Preparatory work is underway on the stamping-press area, one of the most capital-intensive and technically demanding parts of the project. Construction activity at the main buildings will accelerate this summer as vertical construction begins.
“The amended schedule and site design allows Rivian to ramp up its Georgia production efforts more quickly,” the company said in a press release on April 30, 2026.
Vertical construction is slated to start in summer 2026, with phase-one production and robotaxi manufacturing targeted for late 2028.
