Rivian has revised its loan agreement with the U.S. Department of Energy, reducing the loan amount from $6.6 billion to $4.5 billion to fund its new factory in Georgia. The company plans to draw on the loan earlier than expected, starting in early 2027, and has increased the initial production capacity of the Georgia plant from 200,000 to 300,000 vehicles. This capacity boost aims to lower per-unit costs and support future expansion. Part of the factory's output will include R2 robotaxis for Uber, which is investing $300 million initially and plans to buy 10,000 autonomous vehicles for deployment in 2028. Rivian also reported Q1 2026 revenue of $1.38 billion with a reduced loss of $416 million, signaling progress as it prepares to start vehicle production at the new plant by the end of 2028.
