Rivian renegotiates DOE loan down to $4.5 billion, adjusts capacity plans for Georgia plant

Rivian Automotive on Thursday said it has renegotiated a $6.57 billion loan from the U.S. Department of Energy down to $4.5 billion and is adjusting its production expectations at an under-construction plant in Georgia. The DOE loan was previously set to support two phases of production for a total of 400,000 units annually. The amended loan covers one phase of production with a total capacity of 300,000 vehicles, the company said Thursday. …