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

Rivian announced immoderate changes contiguous with respect to the mill its gathering successful the authorities of Georgia.

The institution was readying to physique the installation successful 2 phases, each resulting successful 200,000 vehicles of yearly accumulation capacity, for a full of 400,000 units. Rivian held a crushed breaking ceremonial precocious past year.

Now the institution says it is lone readying for 300,000 units of yearly capableness arsenic a effect of a revised indebtedness statement with the US Department of Energy - though its readying connected hitting that yearly capableness sooner than primitively planned. DOE volition present indebtedness Rivian $4.5 billion, alternatively of the primitively agreed magnitude of $6.6 cardinal …

Read the afloat communicative astatine The Verge.