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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Yes—but $6.6 billion describes the original loan, not its current size. The U.S. Department of Energy conditionally committed up to $6.57 billion in November 2024, and the loan closed in January 2025. Rivian and DOE amended the agreement in April 2026 to an up-to-about-$4.5 billion facility, including capitalized interest. Any advances remain subject to agreement conditions.
How the loan changed
| Date | What happened | Amount and status |
|---|---|---|
| November 25, 2024 | DOE announced a conditional commitment to Rivian New Horizon, LLC, for Project Horizon. | Up to $6.57 billion; conditional, not yet closed. DOE announcement |
| January 16, 2025 | DOE announced the loan had closed. | $6.57 billion total: $5.975 billion principal and $592 million capitalized interest. Rivian described it as “up to $6.6 billion,” rounding the total to about $6 billion in principal and $600 million in interest. DOE closing announcement Rivian announcement |
| April 30, 2026 | Rivian and DOE amended and restated the loan agreement. | Two tranches have aggregate principal caps of approximately $4.006 billion and $651 million, plus approximately $494 million and $179 million in capitalized interest—about $4.5 billion total including interest. Rivian SEC filing Amended loan agreement |
The amendment means the original $6.57 billion closing amount is not the current facility cap. Nor does the amended amount mean Rivian has already received that sum: the agreement makes advances conditional on financial, equity, reserve, security and project requirements.
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What Rivian must meet before advances
Rivian’s June 30, 2026 SEC filing says advances remain subject to conditions. These include meeting gross-margin and vehicle-sales metrics, satisfying equity-contribution and reserve requirements, providing security over project assets, executing project agreements, and delivering a project execution plan. Rivian’s Q1 2026 presentation said the company expected to draw by early 2027, subject to those conditions; that is a company expectation, not a guaranteed funding date. SEC filing Rivian Q1 2026 presentation
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Where the factory is and what it is planned to build
Project Horizon is planned for Stanton Springs North near Social Circle, Georgia. DOE’s January 2025 project description said the roughly nine-million-square-foot site was intended to produce Rivian R2 and R3 vehicles, with capacity of up to 400,000 SUVs and crossovers a year. That was DOE’s original project figure. DOE project description
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Rivian’s later Q1 2026 presentation described a phase-one annual capacity of 300,000 vehicles for its mid-sized platform and said production was expected to begin in late 2028. The 300,000 figure is the company’s later phase-one plan, not the same measure as DOE’s earlier up-to-400,000 project description. The production date is forward-looking and may change. Rivian Q1 2026 presentation
DOE’s projected jobs and fuel savings
At the January 2025 closing, DOE presented the following as project expectations, not achieved or independently verified results:
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- Brand new box.
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- Up to 2,000 construction jobs and 7,500 operations jobs by 2030.
- At least one quarter of employees intended to be hired locally, under Rivian’s Community Benefit Plan.
- Approximately 146 million gallons of petroleum saved annually if the facility operates at full capacity.
These estimates were DOE’s at-closing projections; they are not current job counts or measured fuel savings. DOE project description DOE closing announcement
What the $6.6 billion headline means now
Rivian did secure a $6.57 billion DOE loan at closing in January 2025 after receiving a conditional commitment in November 2024. But the parties amended the agreement in April 2026, reducing the facility to about $4.5 billion including capitalized interest. That current cap remains conditional: the financing supports Rivian’s Georgia factory plan, but the cap is not proof that the money has all been advanced or that the factory schedule is assured.
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- Brand new box.
- Real rubber tires.
- Steerable wheels.
- Has opening doors.
- Detailed interior, exterior.
Rank #3
- Realistic features with doors, front trunk, and gear tunnel that open and wheels that turn
- Interior details: wood grain panel and patterned stitching on the seats
- Four wheel suspension
- Panoramic glass roof
- Popular Colors: Available in Forest Green and Glacier White
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