Rivian (RIVN) lifts production capacity for its Georgia plant by 50% to 300K vehicles annually

Rivian (RIVN) now expects to produce up to 300,000 vehicles at its Georgia manufacturing plant, a 50% increase from its initial estimate.

Rivian boosts EV production capacity in Georgia

Last week, Rivian began producing sellable R2 models after completing a $1.1 million-square-foot expansion in Normal, Illinois.

After reporting first-quarter earnings after the market closed on Thursday, Rivian announced another major plant expansion.

The company is increasing initial production capacity to 300,000 vehicles annually, a 50% increase from 200,000 to support its new midsize platform.

Rivian said the change will be more cost-effective while also leaving room to expand output in the future. As part of the changes, the company worked with the Department of Energy to update its DOE loan. The up to $4.5 billion loan is now in line with Rivian’s updated facility design.

With vertical construction expected to begin this spring, Rivian said, it expects to first draw on the loan by early 2027.

The company remains on track to begin vehicle production at the facility in late 2028. Preparations are also underway for the stamping press area, one of the most costly projects. Rivian will accelerate progress on the plant this summer as the primary buildings begin to take shape.

CEO RJ Scaringe said that “R2 dramatically expands our market opportunity,” adding that “the thousands of dedicated people who will soon work in our Georgia plant will be instrumental to Rivian’s growth as we scale American manufacturing.”

Rivian recently announced a partnership with Uber to build up to 50,000 robotaxis at its Georgia plant, starting in late 2028.

In the first quarter, Rivian produced 10,236 vehicles in Normal and delivered 10,365. For the full year, the company aims to deliver between 62,000 and 67,000 vehicles.

Rivian posted first-quarter revenue of $1.38 billion, an 11% increase from Q1 2025. Automotive revenue fell slightly to $908 million, driven by fewer regulatory credit sales and a decline in revenue per unit with a higher mix of commercial vans.

Rivian’s net loss fell to -$416 million in the first quarter from -$541 million in the year prior, benefiting from a $506 million gain in other income related to the Series A capital raise.

The company ended the first quarter with $4.8 billion in cash and equivalents. Including its credit facility, Rivian said it ended the first quarter with $5.39 billion in liquidity.