Rivian Automotive Inc. (NASDAQ: RIVN) announced it will increase the initial production capacity of its planned Georgia manufacturing facility to 300,000 vehicles annually, representing a 50% increase from the originally planned 200,000 units.

The electric vehicle manufacturer said the capacity increase for the Stanton Springs North facility aims to reduce cost per unit while providing room for future expansion. The company has worked with the U.S. Department of Energy's Office of Energy Dominance Financing to update its DOE loan, which totals up to $4.5 billion for the initial phase.

Vertical construction at the Georgia plant is expected to begin in spring 2026, with Rivian anticipating its first loan draw by early 2027. Vehicle production remains scheduled to start in late 2028.

"R2 dramatically expands our market opportunity," said Rivian Founder and CEO RJ Scaringe. "The thousands of dedicated people who will soon work in our Georgia plant will be instrumental to Rivian's growth as we scale American manufacturing."

The company said preparations are underway for development of the stamping press area, which it described as one of the most capital-intensive projects within the plant. Construction progress is expected to accelerate during summer 2026 as primary buildings begin taking shape.

Rivian also plans to produce up to 50,000 robotaxis at the Georgia facility beginning in late 2028 as part of a partnership with Uber Technologies Inc.

The information is based on a company press release statement.