A $6 billion dollar federal loan to electric vehicle manufacturer Rivian is expected to restart construction of a $5 billion dollar vehicle and battery plant in Morgan and Walton counties.
The project was expected to create 7,500 jobs when it was announced in late 2021. But it appeared in doubt last March when Rivian unveiled plans to build its new R2 crossover models at a factory in Illinois instead of in Georgia. The loan from the U.S. Department of Energy (DOE) is conditional. Rivian must fulfill a number of commitments to the project for the loan to gain final approval.
The loan is being funded through the Inflation Reduction Act Congress passed in 2022. If finalized, the loan would support construction of a 9-million-square-foot facility to manufacture up to 400,000 electric SUVs and crossover vehicles annually.
