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Rivian Seeks New Loan To Start Work On $5 Billion Georgia Factory

  • The carmaker says it could be ready to start production of EVs in Georgia in Q4 2028.
  • Rivian has previously secured $1.5 billion in state and local incentives for the plant.
  • By initially building the R2 at its Illinois plant, Rivian says it’ll save more than $2.25 billion.

Rivian is making progress in restarting construction of its long-planned production facility in Georgia, applying for a federal loan to help facilitate further work at the site.

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The electric car manufacturer originally intended to use the $5 billion Georgia factory to build its R2 series of models. However, it’s since decided the R2 will initially be produced at its facility in Normal, Illinois, in the first half of 2026, before moving to the Georgia site. According to Rivian chief executive RJ Scaringe, bringing the R2 to the market quicker through the Illinois plant will save the company over $2.25 billion.

Read: Rivian Sales Tumble 27% In Q3, 2024 Production Targets Slashed Amid Supply Issues

In a recent filing with the US Department of Energy, Rivian says it wants to break ground on the Georgia site in the second quarter of 2026 and will have the first shop ready in the third quarter of that same year. It will continue building throughout 2026 and into 2027, completing the final shop in Q2 2027 before starting manufacturing validation in the fourth quarter. The company then plans to start production at the site in Q4 2028, Electrek notes.

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Financial details about the loan that Rivian is seeking aren’t known. However, the EV maker did secure $1.5 billion in state and local incentives for the Georgia plant back in 2022.

 Rivian Seeks New Loan To Start Work On $5 Billion Georgia Factory

Earlier this year, RJ Scaringe wrote in an op-ed published by The Atlanta Journal-Constitution that the Georgia site “remains an extremely important part of our strategy to scale production of R2 and R3,” despite a delay.

“We will care for the [Georgia] site in the run-up to construction with the goal of minimizing inconveniences this delay may cause,” Scaringe added. “To be clear, we are absolutely dedicated to bringing our Georgia plant to life with good jobs, economic development, and a product to be proud of. Georgia will be critical to taking R2 and R3 international, and it will be incredibly satisfying to see ‘assembled in Georgia’ on our future vehicles.”

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 Rivian Seeks New Loan To Start Work On $5 Billion Georgia Factory

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