

By: Marshall Benveniste on January 27, 2025
Rivian and DOE Finalize $6.6 Billion Loan for Georgia EV Manufacturing Plant
Rivian announced that it finalized a $6.6 billion loan from the US Department of Energy (DOE) to construct an electric vehicle (EV) manufacturing facility in Stanton Springs North, near the City of Social Circle, Georgia.
The 9-million-square-foot manufacturing plant, located about an hour from downtown Atlanta, will create over 7,500 jobs and produce Rivian’s R2 SUV and R3 crossover.
Construction of the manufacturing facility is expected to start in 2026 and vehicle production by 2028, Rivian said.
An aerial view of the property Rivian plans to build a 9-million square foot electric vehicle manufacturing facility in Stanton Springs North, near Social Circle, Ga. Image: Rivian
The company said the facility will feature advanced manufacturing techniques and sustainable design.
According to Rivian, the loan will be divided into two construction phases: the first phase will amount to $3.4 billion, and the second phase to $2.6 billion. The remainder of the loan is capitalized interest.
Rivian Founder and CEO RJ Scaringe said in a statement, “This loan will help us accelerate the launch of our Georgia plant for R2 and R3, providing thousands of jobs in the state."
“People are incredibly excited to get behind the wheel of our new models," Scaringe added, "and this additional capacity for our mass market products is key to U.S. leadership in the electric vehicle industry."
Rivian and the DOE have worked together closely for over two years to get the loan finalized.
The Rivian R2 is an all-electric, 5-seat SUV with an estimated range of 300 miles. Image: Rivian
Rivian is a US electric vehicle manufacturer that sells directly to consumer and commercial customers. Its first manufacturing facility is located in Normal, Illinois. The company's headquarters in Irvine, California, manages its engineering and design, electronics, software, propulsion, battery systems, supply chain, and logistics.
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About Marshall Benveniste
Marshall Benveniste is a writer and Senior Content Marketing Manager at ConstructConnect with the Economics Group. Marshall has written on various topics for the construction industry, including strategies for building product manufacturers, artificial intelligence in construction, and data-driven decision-making. Before joining ConstructConnect in 2021, Marshall spent 15 years in marketing communications for financial services and specialty construction firms. He holds a PhD in organizational management.