Rivian closed an original U.S. Department of Energy loan facility of up to $6.57 billion in January 2025 to help build its Georgia factory. That is no longer the current maximum: an April 30, 2026 amendment reduced the facility to up to $4.5 billion. The amended loan is not a lump sum Rivian received at closing; future advances are conditional, and Rivian said it expected the first advance in early 2027.
How much is Rivian’s Georgia factory loan now?
The current facility is up to $4.5 billion, according to Rivian’s April 30, 2026 first-quarter release. It comprises $4.006 billion in principal and $494 million in capitalized interest. Rivian and the DOE amended the original arrangement on April 30, 2026, aligning the smaller financing facility with an updated factory design. Rivian’s Q1 2026 release describes the revised amount.
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The frequently reported $6.6 billion figure refers to the original facility that closed in January 2025—not the amended maximum. The DOE announced that original facility as $6.57 billion total, including $5.975 billion of principal and $592 million of capitalized interest. The DOE’s closing announcement gives the original terms.
| Loan figure | Principal | Capitalized interest | What it describes |
|---|---|---|---|
| $6.57 billion (DOE, January 2025) | $5.975 billion | $592 million | Original facility closed in January 2025 |
| Up to $4.5 billion (Rivian, April 2026) | $4.006 billion | $494 million | Amended facility maximum |
Has Rivian received or drawn the full loan?
No. The $4.5 billion is a maximum commitment under a multi-draw loan, not a report that Rivian received that amount in cash. As of its filing for the quarter ended June 30, 2026, Rivian described the amended facility and the conditions attached to advances; it did not say the full amount had been drawn. The company said it expected the first advance in early 2027, subject to those conditions.
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Rivian’s filing lists conditions for advances that include certain gross-margin and vehicle-sales metrics, equity contributions and reserves, security over project assets, project agreements, and a project execution plan. The loan proceeds are for eligible costs of Project Horizon. Rivian’s June 30, 2026 Form 10-Q describes the amended facility and advance conditions.
What is the DOE financing for?
The borrower is Rivian New Horizon, LLC, a Rivian subsidiary. The financing is available through the Department of Energy’s Advanced Technology Vehicles Manufacturing (ATVM) Loan Program for eligible costs of Project Horizon, the planned electric-vehicle factory at Stanton Springs North near Social Circle, Georgia.
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The scale and output figures have changed since the original project profile:
| Measure | Original project description | Updated plan |
|---|---|---|
| Annual vehicle capacity | Up to 400,000 at full capacity, per the DOE’s 2025 project profile | 300,000 vehicles of initial annual capacity, per Rivian in 2026 |
| Facility size | Nine million square feet, per the DOE’s 2025 project profile | Not stated in the cited 2026 update |
| Models | R2 and R3 were among the models in the original plan | Not stated in the cited 2026 update |
| Production timing | Not stated in the cited original project profile | Late 2028 is Rivian’s current expectation |
The DOE’s Project Horizon profile describes the original plan. Rivian’s April 2026 release and amended loan agreement are the relevant sources for the revised facility terms and current plan.
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When will the Georgia factory begin production?
Rivian’s current expectation is to begin Georgia production in late 2028. That is a company target, not a guaranteed opening date. Rivian said it increased the facility’s initial production capacity by 50% to 300,000 vehicles annually and aligned the reduced loan with the updated design.
Construction has begun, according to Rivian’s SEC filing. The company’s January 2025 shareholder letter says the project held a groundbreaking in September 2025. The shareholder letter provides the groundbreaking timing.
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What the original project estimates do—and do not—mean
The DOE’s original project profile estimated up to 2,000 construction jobs and 7,500 operations jobs by 2030, as well as approximately 146 million gallons of annual petroleum savings at full capacity. These are agency estimates tied to the original project plan, not verified job totals or realized fuel savings, and they are not updated projections for the revised factory plan.
Rivian CEO RJ Scaringe said in the April 30, 2026 release that DOE support for the $4.5 billion loan would enable the company to grow American jobs and strengthen U.S. technology and manufacturing leadership while scaling its customer base. That is Rivian’s statement about expected benefits, not an independently verified outcome.
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