Rivian Targets 2027 for Georgia EV Factory Launch with DOE Loan and Eyes Increased R2 Production

Rivian is targeting the year 2027 to begin manufacturing electric vehicles in Georgia. The company has sought financial assistance from the U.S. Department of Energy to support the building of its new plant in Georgia, according to information from Reuters.

In a document submitted to the Department of Energy, Rivian outlined its goal to start limited activity at its new plant by the third quarter of 2027, with the initial segment of its manufacturing capability expected to be fully functional by 2028. Positioned to the east of Atlanta, this facility is intended to operate in conjunction with Rivian's existing plant in Normal, Illinois, which was previously a Mitsubishi site before being converted.

Rivian's Second Model

In 2021, Rivian made public their plans for a new factory in Georgia, worth $5 billion, with the intention to kick off construction in 2022, aiming for the commencement of vehicle manufacturing by 2024. However, Rivian has temporarily halted the building process to recalibrate its production capabilities at its Normal facility for the R2, an electric SUV priced at $45,000, which the company anticipates will begin production in the early part of 2026.

In their announcement back in May, Rivian revealed their goal to manufacture 155,000 units of the R2 model every year at their facility in Illinois. This figure surpasses the total number of vehicles Rivian has handed over to customers across all their models since they started shipping in autumn 2021. When including the production of other models, such as the R1T pickup, R1S SUV, and the EDV for fleet deliveries, Rivian anticipates the output from the Normal factory to reach 215,000 vehicles each year.

Rivian's third model,

The significant boost in manufacturing capabilities, with Rivian announcing the creation of 57,232 vehicles at its Normal facility in 2023, will receive partial financial support through a hefty $827 million boost from Illinois state funding, as per Reuters. Additionally, in 2022, Rivian bagged state and local financial perks amounting to $1.5 billion for its Georgia plant.

Rivian anticipates a cost reduction of $2.25 billion and a quicker commencement of production by relocating the R2's manufacturing to Illinois, as per Reuters. The subsequent models, R3 and R3X, are scheduled for release following the R2, although no specific launch dates have been set. To make room for these new models, Rivian would need to significantly enlarge its Normal facility. However, these models might be transferred to the Georgia facility if Rivian secures the loan from the DOE and finishes building the plant.

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