It looks like that Rivian plant out near Social Circle will move forward after all. Some eight months after announcing that it had suspended construction at its Social Circle-adjacent plant, Rivian has announced that thanks to a $6.6 billion Federal loan through the Inflation Reduction Act it is restarting construction of the plant. The loan is conditional and still subject to some finalizations through the Department of Energy’s Loan Programs Office but it is certainly big news for the state’s second largest economic development in history.
“This loan will help create thousands of new American jobs and further strengthen U.S. leadership in EV manufacturing and technology,” said Rivian Founder and CEO RJ Scaringe. “This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 and R3 vehicles that emphasize both capability and affordability. A robust ecosystem of U.S. companies developing and manufacturing EVs is critical for the U.S. to maintain its long-term leadership in transportation.”
Rivian will produce the R2 and R3 models to start, their midsize vehicles, and support up to 2,000 ful-time jobs during construction and potentially 7,500 jobs for operations by 2030. Ultimately, the facility is expected to cover 9 million square feet and manufacture up to 400,000 electric sport utility vehicles (SUVs) and crossover vehicles. The loan can only be used for construction of the Georgia plant.
“Our Federal manufacturing incentives are driving economic development across the State of Georgia. I join all Federal, State, and local leaders in congratulating Rivian on this conditional Federal loan agreement and in celebrating yet another historic Federal investment in Georgia electric vehicle manufacturing,” Sen. Ossoff said. “I thank President Biden, Vice President Harris, Secretary Granholm, and Loan Programs Office Director Shah for their continued collaboration as we lead Georgia forward.”
Construction will be done in two phases, with each phase resulting in 200,000 units of annual production capacity. The Rivian plant in Normal, Illinois has more than 7,400 workers, so the expected numbers for Georgia are not unrealistic.
“The State of Georgia has already invested in the success of Rivian and without this Federal funding those taxpayer dollars could go to waste. Additionally, this funding would directly support economic development in the City of Social Circle, Walton, Newton, Morgan, and Jasper Counties, and the larger region,” said Sen. Ossoff in July. “Rivian has also partnered with state and local agencies on infrastructure projects and workforce development initiatives to strengthen its investment in Georgia. I urge the Department of Energy to give Rivian Automotive’s LPO ATVM Loan program funding application its fullest consideration, consistent with all agency rules and regulations.”
