Rivian Outlines Timeline to Tap DOE Loan Tied to Georgia Factory

As first reported by Bloomberg, Rivian plans to tap into its $6.6 billion US Department of Energy loan after completing construction of its new Georgia factory but before production begins in 2028. Chief Financial Officer Claire McDonough shared the update Tuesday in Detroit, explaining that Rivian expects to start building the plant next year and then seek reimbursement from the DOE once it’s complete.

“The drawdown would be prior to starting production in 2028,” McDonough said, aligning the timing with Rivian’s next major growth phase.

The loan, finalized in January during the final days of the Biden administration, has since become a political talking point. President Trump has criticized this type of government financing, while current Energy Secretary Chris Wright said earlier this year that his agency doesn’t plan to move forward with certain Biden-era loans. That could add some uncertainty around when and how Rivian ultimately accesses the funds, especially with another presidential election year ahead in 2028.

Rivian is set to launch production of its next-generation R2 in 2026 at its Illinois plant, followed by expansion to the Georgia facility where the R2 and smaller R3 will eventually be built. The Georgia plant will play a critical role in scaling Rivian’s production capacity, but until that facility is operational, most of Rivian’s progress will hinge on efficiencies gained in Normal.

McDonough reaffirmed that Rivian expects to hit EBITDA profitability once its Illinois facility reaches full output of 200,000 vehicles per year. For now, the company still forecasts an adjusted EBITDA loss of up to $2.25 billion in 2025.

In short, the next few years are all about execution: building the Georgia plant, ramping Illinois, and positioning Rivian for a major leap forward as it targets profitability and mass-market production.