Rivian Gets $6.6B Loan to Build 400K EVs, Create 7,500 Georgia Jobs

[{"selector":"#anim-06cfa14c-4e4f-4ebe-95f6-e2964ed849fe","keyframes":{"opacity":[0,1]},"delay":0,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c36211de-6175-4f6c-9c8e-cb42b8ed56b3","keyframes":{"transform":["translate3d(107.89473%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0b5bc4f2-e5cf-42f4-b5e8-eb9682099507","keyframes":{"opacity":[0,1]},"delay":100,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cb56b752-60b3-42d0-82c4-9e3953de96dd","keyframes":{"opacity":[0,1]},"delay":250,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Sunita Somvanshi

"Department of Energy backs Rivian with $6.6B loan while stock plummets 50% - can this EV maker weather the storm?"

[{"selector":"#anim-f58f19e5-4c45-4fd6-a436-1e5be3bd4dd6","keyframes":{"opacity":[0,1]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5f0f7ede-0ec9-4b97-9f6f-0a9d8be21109","keyframes":{"transform":["translate3d(99.75787%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-46b2cff7-d0b5-47e0-b507-9bf5d91d98f2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6ec05cb8-446f-4965-ad32-44637ea1cb18","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2b07007c-fd3f-46fa-b9dd-7b51f047fcff","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7cd005d6-9ff2-4521-9843-70e744f287b6","keyframes":{"transform":["translate3d(0px, 206.11078%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Photo Source: Courtesy of Rivian (CC BY-SA 4.0) Photo Source: Courtesy of Rivian ( CC BY-SA 4.0)

Federal backing arrives as Rivian posts first quarterly revenue decline since IPO, while parts shortages slow drive unit production.

[{"selector":"#anim-d47b50b3-ef15-40e6-8213-92ac6e14c229","keyframes":{"transform":["translate3d(108.70713%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e62be9c-036b-4a31-9034-4ea934ace893","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e0ae4c9c-f5f7-46dc-963a-eb3082359955","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-e015e878-140d-4379-b38d-6ade5e1c1dfc","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-60782eb1-74d2-4caf-be93-9b9037d5c1db","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7804dd54-9538-4c91-98b8-196fcfeb5407","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-70b6a9e2-0db9-451c-ab1c-9db8950f5d44","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Photo Source: Richard Truesdell ( CC BY-SA 4.0)

RJ Scaringe plans aggressive scaling with R2 and R3 vehicles, but Georgia plant's $5B construction stands paused until 2028.

[{"selector":"#anim-682ff823-40ee-4904-b302-59642dffd796","keyframes":{"opacity":[0,1]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7915bf05-c5fe-48a6-abc9-77ea3ac1938a","keyframes":{"transform":["translate3d(99.75787%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-46f86c31-b78e-4f5d-9876-e3ab19f01d47","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1c5a32e4-3a36-469f-9954-535b230693e7","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-91a38c83-a39f-4066-b222-4636868b9202","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1748b324-25c7-45d0-a885-1d43571f9806","keyframes":{"transform":["translate3d(0px, 206.11078%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Photo Source: Rivian pic ( CC BY 4.0) Photo Source: Rivian pic ( CC BY 4.0)

Behind closed doors: Rivian reportedly agreed to union-friendly terms at Georgia plant as loan condition - what's at stake?

[{"selector":"#anim-85cc9951-ca84-421d-912d-79d66c96477d","keyframes":{"transform":["translate3d(108.70713%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ba2aa19b-8359-4d81-aa79-5e4fbe2dcf0c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-17fb6ccc-2514-4af0-9cd6-e96a74d9d552","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-3f0a3a71-0f20-428a-90d1-4eec3f24c7c9","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e0a1224d-a3de-4d15-897b-a5a745841c4f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-18ac27d3-2433-4a3a-9be2-fa5b75e14f12","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-92bb59c6-e663-4c0a-8689-90991c3b34a2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Photo Source: Kevauto ( CC BY-SA 4.0)

A fresh $5.8B Volkswagen partnership positions Rivian to potentially become Western world's leading EV platform alongside Tesla.

[{"selector":"#anim-5f1215f8-e642-4a31-abd3-2c529340d6d0","keyframes":{"opacity":[0,1]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9ae0f3af-12c2-4932-903b-36ba00a25524","keyframes":{"transform":["translate3d(99.75787%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1ac29910-0a74-4b3e-b828-f4639c1e2f31","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cf562438-61df-4d2c-a005-358bd7f0f11c","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5841ed71-b1e3-4480-b8b8-053aabf55921","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-36dafd8e-a960-474c-a70d-88635a051d39","keyframes":{"transform":["translate3d(0px, 206.11078%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Photo Source: mliu92 (CC BY-SA 2.0) Photo Source: mliu92 ( CC BY-SA 2.0)

Local incentives stack up: $1.5B from Georgia, $827M from Illinois support Rivian's ambitious manufacturing expansion.

[{"selector":"#anim-78b240b4-9fd1-41c8-9139-cc3344feef4c","keyframes":{"transform":["translate3d(108.70713%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e22a176-4e23-4696-acc0-e4b7a0f474c0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f3c819d5-218b-40fa-85fa-3440da950640","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-cc6cd1af-3713-4955-b021-76b56ea15926","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-61cc0977-e42e-41ac-8ef7-55b9caa7b04d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b2825d05-0319-4db7-b03f-5b4bc84f7d8d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-5db18e39-34d0-4533-ac79-ada42e3d4536","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Photo Source: Ron Frazier ( CC BY 2.0)

How will Rivian navigate Trump's planned reversal of Biden-era EV incentives while racing to close this crucial loan?

[{"selector":"#anim-a18abfcc-c78f-479e-bb70-e496481f8d30","keyframes":{"opacity":[0,1]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-21d21e85-cb02-4cfa-974b-00f0b237e3cc","keyframes":{"transform":["translate3d(99.75787%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d270eaa8-1e4d-4759-978b-be09e68089f5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4bcbfeda-e5af-4366-a5b6-5faa4fe55b1e","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eeb0ed01-a605-4a2d-9eeb-4011323db11b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1acc9f84-9697-4a6f-adee-6c4f42b0668a","keyframes":{"transform":["translate3d(0px, 206.11078%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Photo Source: Cutlass ( CC0 1.0) Photo Source: Cutlass ( CC0 1.0)

Despite production hurdles, Rivian projects first gross profit through supplier changes and increased green car credits.

[{"selector":"#anim-c3b89987-34a9-4039-8982-737f93397fa8","keyframes":{"transform":["translate3d(108.70713%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d00fcbb0-c72e-4cc7-bef3-539137220990","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8faa4ef3-e085-4180-93fb-dc73a8825b11","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-5ace8864-24f9-43ee-a7ee-8b15e3cffc13","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b99575b5-bf03-4b00-91e7-90fed79fbf14","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-82b625e4-caf6-4ac2-adc7-d5bc7621044d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-2da49a31-bc45-4489-845d-d7b0f34c3a6c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Photo Source: Rivian pic ( CC BY 4.0)

DoE demands 400,000 EVs while Rivian promises 7,500 jobs by 2030 - technical, legal, and environmental conditions must be met.

[{"selector":"#anim-61350213-2b75-44f0-8178-68b0e0131a9f","keyframes":{"opacity":[0,1]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e12d581a-95a5-40f1-8cf0-b6276dcb7fea","keyframes":{"transform":["translate3d(99.75787%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b411a11b-d35f-4775-bb86-8d1b3061ec10","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-870ab394-3792-452d-ad57-dee7189005c9","keyframes":{"transform":["translate3d(-115.18988%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5d2b2264-2a58-4672-a484-e67d1e137e20","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ffe13792-9f56-4429-b27d-41149fb04821","keyframes":{"transform":["translate3d(0px, 206.11078%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Photo Source: mliu92 ( CC BY-SA 2.0) Photo Source: mliu92 ( CC BY-SA 2.0)

[{"selector":"#anim-7fc0414c-54dc-468e-bca5-7b0916a08477","keyframes":{"transform":["scale(1)","scale(1.15)","scale(0.985)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1200,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-c7d2d28e-fab3-482f-9a23-8748aeb185d6","keyframes":{"opacity":[0,1]},"delay":0,"duration":1200,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-66d98da7-10a0-441d-b7cf-1157a10e788f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more