Rivian has scaled its loan deal with the Department of Energy, reducing it to $4.5 billion for its Georgia factory from an initial $6.6 billion. This adjustment comes hand-in-hand with increased production plans in phases.

The company now anticipates building up to 300,000 vehicles at its first phase, marking a 50% increase over its original projections. This expansion aims to lower per-unit costs and provide room for future growth, despite the revised financial plan.

Rivian’s CFO revealed that the additional capacity will be dedicated to producing R2 robotaxis for Uber, with an initial order of 10,000 vehicles planned for 2028. Uber has committed $550 million in investments through 2031, marking a significant partnership in autonomous vehicle technology.

While Rivian’s financials show progress in revenue growth and operational efficiencies, the company still faces challenges with free cash flow. The Q1 2026 report reveals an operating loss of $416 million but highlights a gain from Mind Robotics, offsetting some of these costs.

The modifications to the loan agreement also reflect Rivian’s ongoing commitment to its Georgia factory, where production is set to start by late 2028. Meanwhile, the company continues to build R2 SUVs at its Illinois plant following recent tornado damage.