business / news / / TechCrunch
Rivian has reworked its loan deal with the Department of Energy and now expects to borrow $4.5 billion to build its new factory in Georgia.
Rivian reduced its DOE loan amount from $6.6 billion to $4.5 billion for its Georgia factory.
KEY POINTS
- The initial production capacity at the Georgia plant is now planned at 300,000 vehicles, up from 200,000.
- Uber plans to purchase 10,000 Rivian R2 robotaxis and may buy up to 40,000 more by 2031.
- Rivian's R&D budget grew 20% to $458 million, mainly for autonomous technology and R2 pre-production.
- Rivian's negative free cash flow reached $1 billion this quarter, nearly doubling year-over-year.
COMPANIES
Summarized by Newsio from TechCrunch. How we summarize →