Rivian downsizes new EV factory after Trump’s DOE slashes loan agreement

"Rivian announced some changes today with regard to the factory its building in the state of Georgia. The company was planning to build the facility in two phases, each resulting in 200,000 vehicles of annual production capacity, for a total of 400,000 units. Rivian held a ground breaking ceremony late last year. Now the company says it is only planning for 300,000 units of annual capacity as a result of a revised loan agreement with the US Department of Energy - though its planning on hitting "

Original Source

This report is based on coverage originally published by The Verge.

Read Full Story

Newsletter

Never miss a breakthrough

Get the Daily AI Briefing delivered straight to your inbox.

Join 5,000+ subscribers →