Rivian Plans 615K Annual EV Capacity by 2030 With New Georgia Factory

Rivian is finally making some big moves in Georgia, and honestly, it’s a huge sign that things are lining up for the long game. The new manufacturing plant isn’t just a shiny facility in the works, it’s the foundation for Rivian’s shift from building $100K luxury trucks and SUVs to actually competing in the mass-market EV world.

Rivian wants to expand production capacity by nearly 200% over the next couple of years, eventually hitting more than 600,000 vehicles annually by 2030. For context, Rivian sold just over 10,000 vehicles in Q2 and expects around 40–46K this year. So yeah, we’re talking about scaling up by more than 1,000% in just a handful of years.

What makes this possible? Two big things. First, Rivian landed Volkswagen as a partner, plus a $6.6 billion conditional loan from the Department of Energy. Second, Georgia ponied up around $1.5 billion in incentives to get the plant built, including a massive site and even a highway extension. That kind of backing doesn’t come around unless folks really believe in what Rivian is doing.

Now, the important part for us as drivers is that Rivian’s next models, the R2 and R3, are aimed at way more realistic price points. The R2 should come in around the $50K range, and the R3 is targeting a base price just above $35K. Compare that to the average new car price of $49K in the U.S., and you see why this matters. Rivian isn’t just going after Tesla’s market, they’re aiming to undercut it with something even more affordable.

The timeline looks like this:

• 2025: under 50K units, still mostly R1T and R1S.
• 2026: up to 215K units when R2 kicks off in Illinois.
• 2028: Georgia plant brings capacity to 415K.
• 2030: full capacity, 615K units, including the R3 crossover.

If Rivian actually pulls this off, the revenue jump is going to be insane. We’re talking a move from about $5 billion this year to potentially $30–40 billion by 2031, depending on average vehicle prices and software add-ons. For a company with a market cap of $17.5 billion today, the upside is massive if they can execute even half of this plan.

Sure, there are risks. Government loans can fall through, scaling isn’t easy, and Rivian is still losing money every quarter. But the story here is that Rivian is finally positioning itself where the real EV demand exists: under $50K. Tesla proved that’s where the magic happens with the Model 3 and Y. Rivian is set to follow that same playbook, only with a brand that already has a ton of goodwill and some of the highest owner satisfaction scores in the industry.

Bottom line, Rivian’s Georgia expansion is more than just a new factory. It’s the clearest signal yet that Rivian isn’t content being the boutique truck and SUV brand, it wants to play in the big leagues. And if you’re bullish on Rivian stock, this is the kind of long-term growth story you want to see.