Oct 4 (Reuters) - Rivian Automotive ( RIVN ) has applied
for a federal loan to enable the construction of its electric
vehicle factory in Georgia, according to a filing by the
Department of Energy.
The EV maker had paused construction of its planned $5
billion factory in Georgia to prioritize speeding up production
of vehicles on the R2 midsize platform and conserving cash.
The facility is scheduled to begin partial operations in the
third quarter of 2027, with the first production capacity block
reaching full operation in 2028, the filing said.
Earlier in the day, the Amazon-backed EV firm
lowered its annual production forecast and missed third-quarter
deliveries expectations due to a parts shortage and a slowdown
in EV demand.
Rivian did not immediately respond to a request for comment.