Loan & DebtApr 30, 2026, 04:21 PM
RIVN Secures Amended DOE Loan up to $4.5B for Georgia EV Plant
AI Summary
Rivian Automotive, Inc. and its subsidiary Rivian New Horizon, LLC entered into an Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement with the U.S. Department of Energy. This agreement provides up to approximately $4.006 billion in principal and $493.6 million in capitalized interest, totaling around $4.5 billion. The funds are designated to support the development of the first phase of a 300,000-unit annual production capacity electric vehicle manufacturing facility in Stanton Springs North, Georgia.
Key Highlights
- Amended DOE loan facility up to $4.006B principal, $493.6M capitalized interest.
- Note A Loan: up to $3.355B principal, $315.3M capitalized interest, maturing March 15, 2045.
- Note B Loan: up to $650.9M principal, $178.3M capitalized interest, maturing June 15, 2041.
- Proceeds to fund the first phase of 300,000 units annual production capacity at Georgia EV plant.
- Rivian Automotive, Inc. and certain subsidiaries will jointly and severally guarantee the loan.