Fifty percent increase in phase one production capacity will boost cost efficiency, support thousands of U.S. manufacturing jobs, and bolster American tech leadership on global stage

American automotive manufacturer and technology company Rivian today announced it is increasing its initial production capacity to 300,000 vehicles annually for its future manufacturing facility in Stanton Springs North, Georgia. This represents a 50 percent increase over the initially planned capacity of 200,000 units to facilitate a lower cost per unit while also providing significant room for future expansion of capacity in later phases.

"We're very excited to partner with the U.S. Department of Energy to grow our manufacturing footprint in Georgia," said Rivian Founder and CEO RJ Scaringe. "R2 dramatically expands our market opportunity. 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 and work to ensure that the U.S. retains its leadership in innovation and technology."

Rivian has worked with the U.S. Department of Energy's (DOE) Office of Energy Dominance Financing (EDF) to update its DOE loan that will aim to bolster American manufacturing and construction jobs. As vertical construction commences in 2026, Rivian now expects to first draw on the loan by early 2027. The company remains on track for vehicle production to begin in late 2028. The total DOE loan is aligned with the updated facility design and roadmap at up to $4.5 billion ($4,006 million principal and $494 million capitalized interest) for the initial phase.

Rivian continues to work with its partners in the communities surrounding its site at Stanton Springs as the company transitions to vertical construction, which is expected to begin this spring. Preparations are underway for the development of the stamping press area, one of the most capital-intensive and technically demanding projects within the plant from a construction perspective. Progress will accelerate this summer as the facility's primary buildings begin to take shape. Rivian recently announced a partnership with Uber and is expected to build up to 50,000 robotaxis at its Georgia plant beginning in late 2028.

Forward-looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the possible issuance and timing of advances under the loan, the terms of the loan and related financing documents, the use of proceeds, the satisfaction of covenants and conditions under the loan, the absence of events of default, construction of our manufacturing facility, the launch and production ramp of R2, the expected benefits of our partnership with Uber and timeline for production of robotaxis at the Georgia plant, and the expected impact of the loan. In some cases you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions, although not all forward-looking statements use these words or expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to, the factors discussed in Part II, Item 1A, "Risk Factors" in Rivian's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and its other filings with the Securities and Exchange Commission. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

About Rivian:

Rivian (NASDAQ:RIVN) is an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and services. Through innovation across its electrical architecture, end-to-end software, autonomous driving platform, artificial intelligence and propulsion, the company creates vehicles that excel at work and play while accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are manufactured in the United States and are sold directly to consumer and commercial customers. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal — preserving the natural world for generations to come.

Learn more about the company, products, and careers at www.rivian.com.

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Media contact:

Peebles Squire

media@rivian.com

Investors:

ir@rivian.com

Rivian Announces Optimized Capacity Plan for Georgia Plant