LPO Announces Conditional Commitment to Rivian to Support the Construction of EV Manufacturing Facility in Georgia

The U.S. Department of Energy's Loan Programs Office (LPO) announced a conditional commitment of up to $6.57 billion to Rivian New Horizon, LLC to support the construction of an EV manufacturing facility in Stanton Springs North, Georgia. This project, known as Project Horizon, is expected to create up to 2,000 construction jobs and 7,500 operations jobs by 2030, boosting the regional economy and supporting the production of up to 400,000 electric vehicles annually.

If finalized, the loan will support construction of a nine million square foot facility to manufacture up to 400,000 mass-market electric sport utility vehicles (SUVs) and crossover vehicles. The workers at the Rivian facility will help build America’s clean transportation future by boosting the regional economy and adding to the nearly 16 million jobs created since President Biden and Vice President Harris took office.