•1 min read•from TechCrunch
Rivian downsizes DOE loan to $4.5B of Georgia factory
Our take
Rivian has made significant adjustments to its financial plans, reducing its loan agreement with the Department of Energy from $6.6 billion to $4.5 billion for the construction of its new factory in Georgia. This strategic decision reflects Rivian's commitment to aligning its funding with current operational needs while still pursuing ambitious manufacturing goals.
Rivian has reworked its loan deal with the Department of Energy and now expects to borrow $4.5 billion to build its new factory in Georgia, down from the original amount of $6.6 billion.
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