Rivian (RIVN) boosts production capacity for Georgia plant by 50%
Electrek • • business
Key Points:
- Rivian has increased the production capacity at its Georgia manufacturing plant to 300,000 vehicles annually, a 50% rise from the initial estimate of 200,000, to support its new midsize R2 platform.
- The company completed a $1.1 million-square-foot expansion in Normal, Illinois, and recently began producing sellable R2 models, with vehicle production at the Georgia facility expected to start in late 2028.
- Rivian updated its Department of Energy loan to align with the new facility design, with up to $4.5 billion available and the first draw expected by early 2027 as vertical construction begins this spring.
- The company announced a partnership with Uber to build up to 50,000 robotaxis at the Georgia plant starting in late 2028, expanding its market opportunities significantly.
- In Q1, Rivian produced 10,236 vehicles and delivered 10,365, posting $1.38 billion in revenue (up 11% year-over-year) and reducing its net loss to $416 million, while ending the quarter with $4.8 billion in cash and $5.39 billion in total liquidity.
