Rivian (RIVN) now expects to produce up to 300,000 vehicles at its Georgia manufacturing plant, a 50% increase from its initial estimate. Rivian boosts EV production capacity in Georgia Last week, Rivian began producing sellable R2 models after completing a $1.1 million-square-foot expansion in Normal, Illinois. After reporting first-quarter earnings after the market closed on Thursday, Rivian announced another major plant expansion. The company is increasing initial production capacity to 300,000 vehicles annually, a 50% increase from 200,000 to support its new midsize platform. Advertisement – scroll for more content Rivian said the change will be more cost-effective while also leaving room to expand output in the future. As part of the changes, the company worked with the Department of Energy to update its DOE loan. The up to $4.5 billion loan is now in line with Rivian’s updated facility design. With vertical construction expected to begin this spring, Rivian said, it expects to first draw on the loan by early 2027. The company remains on track to begin vehicle production at the facility in …