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Get filing alertsRivian secures $4B+ DOE loan amendment to fund 300K-unit Georgia EV plant
Filed April 30, 2026 · Period ending April 30, 2026 · ~1 min read
Key Changes
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Amended DOE loan provides up to $4.5B total ($3.4B Note A + up to $651M Note B principal, plus $494M capitalized interest) to build first phase of Georgia manufacturing facility targeting 300,000 units annual capacity.
Item 1.01 verify on EDGAR → -
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Rivian Automotive and material domestic subsidiaries jointly guarantee all loan obligations; company must make contingent equity contributions for cost overruns and provide additional equity if loan funds prove insufficient.
Item 1.01 verify on EDGAR → -
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Note A ($3.4B) drawable through April 2031, matures March 2045; Note B (up to $651M) drawable through May 2032, matures June 2041. Interest rates equal US Treasury yields with zero credit spread.
Item 1.01 verify on EDGAR → -
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Loan represents amendment to original January 2025 DOE facility, maintaining similar covenants, representations, warranties and default provisions while restructuring draw periods and maturity dates.
Item 1.01 verify on EDGAR →
Summary
Rivian has secured a major amendment to its Department of Energy loan facility, increasing total available funding to over $4.5 billion to build its second U.S. manufacturing plant in Georgia. The amended facility consists of two tranches: a 15-year $3.4 billion Note A and a 10-year up to $651 million Note B, both carrying interest rates equal to Treasury yields with no credit spread.
The proceeds will fund the first phase of the Stanton Springs facility near Social Circle, Georgia, designed for 300,000 units of annual production capacity. Retail investors should note that Rivian and its material subsidiaries are jointly guaranteeing the entire loan, creating significant balance sheet obligations.
The company must also provide contingent equity for cost overruns and additional funding if loan proceeds fall short, potentially requiring future capital raises. The extended draw periods (through 2031-2032) and long maturities (2041-2045) provide flexibility but also represent long-term debt commitments. Watch for updates on construction progress and the timing of actual loan draws, which require satisfying specific conditions precedent. The company's ability to execute this 300,000-unit expansion while managing cash burn at its existing Illinois facility will be critical to achieving profitability and justifying this substantial debt load.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On April 30, 2026, (the “Amendment and Restatement Date”), Rivian New Horizon, LLC (the “Borrower”) and Rivian Automotive, Inc. (the “Sponsor” or the “Company”) entered into an Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement (the “A&R LARSSA”) with the United States Department of Energy (“DOE”), pursuant to which DOE has agreed to certain amendments in respect of a multi-draw term loan initially arranged under the original Loan Arrangement and Reimbursement and Sponsor Support Agreement dated January 16, 2025 (the “Original LARSSA”).
Rivian amended its Department of Energy loan facility originally signed in January 2025. The amended facility restructures the terms while maintaining the core loan guarantee structure, equity contribution requirements, representations, warranties, covenants and default provisions from the original agreement.
Added in current filing · verify on EDGAR →
The amended facility is comprised of two tranches, with the first tranche consisting of an approximate 15-year term loan in an aggregate principal amount of up to $3,355,410,861.67, plus capitalized interest in an aggregate amount of up to $315,352,641.39 (the “Note A Loan”), and with a second tranche consisting of an approximate 10-year term loan in an aggregate principal amount of up to $650,902,306.53, plus capitalized interest projected to be in an aggregate amount of up to $178,334,190.41 (the “Note B Loan”, and together with the Note A Loan, the “Amended DOE Loan”), to be provided by the Federal Financing Bank (“FFB”) to the Borrower under DOE’s loan program.
The amended loan totals over $4 billion in principal plus capitalized interest. Note A provides up to $3.36 billion principal plus $315 million interest over 15 years, while Note B provides up to $651 million principal plus $178 million interest over 10 years. The Federal Financing Bank will provide the funds under the DOE loan program.
Added in current filing · verify on EDGAR →
The proceeds of advances under the Amended DOE Loan (both the Note A Loan and the Note B Loan) will be used to support the development of the first phase of 300,000 units of annual production capacity at an electric vehicle manufacturing facility in Stanton Springs North, near the City of Social Circle, Georgia (the “Project”).
The loan proceeds will fund the first phase of Rivian's Georgia manufacturing facility, targeting 300,000 units of annual production capacity. This represents a significant expansion of Rivian's manufacturing footprint beyond its existing Illinois plant.
Added in current filing · verify on EDGAR →
Advances under the Note A Loan (each, a “Note A Advance”) may be requested, upon the satisfaction of certain conditions precedent, from January 16, 2025 through April 16, 2031, and the loans comprised of Note A Advances will mature on March 15, 2045 (the “Note A Maturity Date”). ... Advances under the Note B Loan (each, a “Note B Advance” and together with the Note A Advances, each an “Advance”) may be requested, upon the satisfaction of certain conditions precedent, from the date of the first Advance through May 15, 2032, and the loans comprised of Note B Advances will mature on June 15, 2041 (the “Note B Maturity Date”).
Note A can be drawn through April 2031 with maturity in March 2045, while Note B can be drawn through May 2032 with maturity in June 2041. Principal repayments begin in 2031 for Note A and 2032 for Note B, with interest payments starting in 2030 and 2032 respectively. Interest rates equal US Treasury yields with zero credit spread.
Event · Item 2.03 — Creation of a Direct Financial Obligation
Rivian disclosed creation of a direct financial obligation related to a DOE Loan under an amended loan agreement.
Added in current filing · verify on EDGAR →
Item 2.03 – Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.
Rivian has created a direct financial obligation through a DOE Loan arrangement. The 8-K references Item 1.01 for full details of the loan terms, which typically include an amended loan agreement (A&R LARSSA) and related financing documents. This represents a material financing event for the company.
Added in current filing · verify on EDGAR →
statements regarding the possible issuance and timing of advances under the DOE Loan, the terms of the A&R LARSSA and related Financing Documents, the use of proceeds resulting from the DOE Loan, the satisfaction of covenants made pursuant to the DOE Loan, the absence of events of default, construction and operation of the Project
The filing indicates the DOE Loan involves advances under an amended loan agreement (A&R LARSSA), with proceeds designated for construction and operation of a Project. The company references covenants and confirms no events of default exist. This suggests a structured government-backed financing arrangement tied to specific capital deployment.
Event · Item 9.01 — Financial Statements and Exhibits
Rivian amended its DOE loan agreement, with redacted terms; no material business impact disclosed beyond the filing of the amended agreement.
Added in current filing · verify on EDGAR →
Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement, effective as of April 30, 2026, by and among Rivian New Horizon, LLC, Rivian Automotive, Inc. and the United States Department of Energy.
Rivian entered into an amended and restated loan arrangement with the U.S. Department of Energy, effective April 30, 2026. The agreement involves Rivian New Horizon, LLC and Rivian Automotive, Inc. Material terms have been redacted under Regulation S-K, so the specific changes to loan terms, amounts, covenants, or other conditions are not disclosed in this filing.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify