On November 25, 2024, the Loan Programs Office (LPO) revealed a conditional commitment to Rivian New Horizon, LLC, offering up to $6.57 billion to support the construction and development of Project Horizon, an electric vehicle (EV) manufacturing facility in Stanton Springs North, Georgia.

This conditional commitment, part of the Biden-Harris Administration’s Investing in America agenda, was announced by the Department of Energy’s (DOE) Loan Programs Office. The proposed loan includes up to $6.57 billion, consisting of $5.975 billion in principal and $592 million in capitalized interest, to help finance the development of an electric vehicle manufacturing facility located near the City of Social Circle, Georgia. The facility will be owned by a subsidiary of Rivian Automotive, Inc., with additional support from the company's equity investment. This project underscores the Biden-Harris Administration’s efforts to bolster the nation’s manufacturing competitiveness and maintain the U.S.'s leadership in the rapidly growing EV industry.

As part of President Biden and Vice President Harris’ initiative to create quality jobs across the nation, the project is expected to create up to 2,000 construction jobs and approximately 7,500 operational jobs by 2030. If finalized, the loan will contribute to the construction of a nine-million-square-foot facility designed to produce up to 400,000 electric sport utility vehicles (SUVs) and crossover vehicles annually. This facility will play a significant role in advancing clean transportation in America, supporting both the regional economy and the nearly 16 million jobs created since President Biden and Vice President Harris took office.

At the Georgia facility, Rivian plans to produce its all-electric midsize platform (MSP) models, the R2 and R3, which will be the first variants off the production line. Rivian already manufactures its three-row electric SUV, the R1S, the electric pickup truck R1T, and commercial vans at its Illinois facility in Normal.

The announcement marks a significant expansion of domestic EV manufacturing, furthering the Biden-Harris Administration’s goal to have half of all new vehicles sold by 2030 be zero-emission. As one of the few American EV startups with vehicles already on the road, Rivian's new Georgia facility will enhance the company’s production capacity, enabling it to make its products more competitive in terms of cost and accelerate its entry into international markets. The facility’s full operation is expected to save approximately 146 million gallons of petroleum annually in fuel consumption.

If finalized, the loan would be provided through LPO’s Advanced Technology Vehicles Manufacturing (ATVM) Loan Program, which supports U.S. manufacturing of advanced technology vehicles and components that improve fuel efficiency. This would be the first ATVM loan under the Biden-Harris Administration aimed at the production of advanced technology vehicles, as opposed to components.

Rivian has committed to developing a Community Benefits Plan (CBP) as part of the loan agreement, ensuring meaningful engagement with local communities and labor groups to generate high-quality jobs and enhance the welfare of residents. Rivian’s CBP includes plans to hire at least 25% of its workforce from the surrounding communities. This project also aligns with the Justice40 Initiative, which mandates that 40% of the benefits from certain federal investments in climate and clean energy flow to disadvantaged communities.

Additionally, Rivian is collaborating with Georgia’s local technical colleges to create workforce training programs. Through the state’s QuickStart technical training program, Rivian is working to attract, train, and retain skilled workers for the new facility. Currently, approximately twenty Georgia-based apprentices are receiving training at Rivian’s Illinois plant, with plans for them to return to Georgia when the facility is operational. Rivian is also considering expanding the program to include other career paths.

While this conditional commitment represents DOE’s intent to finance the project, both the DOE and Rivian must meet specific technical, legal, environmental, and financial conditions before finalizing the loan and proceeding with the financing.