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Home/News Feed/Rivian cuts DOE loan to $4.5B, speeds up production but lowers plant capacity amid EV demand uncertainty
RIVN
$17.86
+$0.06 +0.34%

Rivian cuts DOE loan to $4.5B, speeds up production but lowers plant capacity amid EV demand uncertainty

Market News
30 Apr 2026
CNBC
View Source
Neutral
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Rivian has renegotiated its U.S. Department of Energy loan from $6.57 billion down to $4.5 billion, allowing earlier access to funds and increased initial production at its Georgia plant. However, the total production capacity for the plant is reduced from 400,000 to 300,000 vehicles annually due to uncertain demand for electric vehicles. The company plans to start drawing on the loan in 2027, a year earlier than planned, and aims to begin production of its new R2 electric vehicle at the facility by late 2028. This update comes alongside Rivian's Q1 financial results showing a net loss of $416 million but revenue slightly above expectations.

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