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Looking towards the future, Rivian secured a $6.6 billion loan from the U.S. Department of Energy to build a new manufacturing facility in Stanton Springs, Georgia. This factory aims to produce their anticipated R2 and R3 SUV models, which are designed to be more affordable options for consumers.
Simultaneously, Rivian is expanding its existing factory in Normal, Illinois, to facilitate production of the new R2 platform. These efforts are crucial as Rivian prepares to serve a broader market with new, more competitively priced vehicles while maintaining its foothold in the adventure-oriented electric vehicle sector.