On November 25th local time, American electric vehicle manufacturer Rivian announced that it has received a conditional commitment from the US Department of Energy's Advanced Technology Vehicle Manufacturing (ATMM) loan program, with a loan size of $6.6 billion.
The statement stated that if finalized, this loan will support Rivian in building a new factory in Georgia, which can significantly expand the company's domestic production capacity and meet the demands of the US and international markets.
Rivian plans to build the factory in two phases, with an annual production capacity of 200000 vehicles in each phase and a total annual production capacity of 400000 vehicles. The first phase of the project is expected to be put into operation in 2028.