Connect with us

News

Rivian gains conditional $6.6B loan commitment for Georgia factory

Credit: Rivian | X

Published

on

Rivian has announced the conditional approval of a loan of up to $6.6 billion for its previously delayed Georgia manufacturing facility, set to help the company fund production of its upcoming R2 SUV and R3 and R3X crossovers.

The U.S. Department of Energy (DOE) has granted Rivian conditional approval for the Georgia factory loan as part of its Advanced Technology Vehicle Manufacturing (ATVM) program, according to a press release shared by the automaker on Tuesday. The news comes after Rivian was forced to delay the Georgia plant as detailed in an announcement earlier this year, instead pivoting to have the R2 begin production at its factory in Normal, Illinois due to financial concerns and a desire to launch manufacturing of the platform sooner.

Credit: State of Georgia

Credit: State of Georgia

Credit: Rivian

Rivian says the loan includes $6 billion of principal and roughly $600 million of capitalized interest, set to help reboot the automaker’s plans to construct a production facility outside of Social Circle, Georgia, at the Stanton Springs North manufacturing hub. The company expects Phase One of the project to start producing vehicles by 2028, initially offering 200,000 units of annual production capacity and doubling that upon completion of Phase Two.

The company also says the facility will create around 7,500 operations jobs through 2030, along with around 2,000 full-time jobs expected during construction.

“This loan will help create thousands of new American jobs and further strengthen U.S. leadership in EV manufacturing and technology,” says RJ Scaringe, Rivian CEO and founder. “This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 and R3 vehicles that emphasize both capability and affordability. A robust ecosystem of U.S. companies developing and manufacturing EVs is critical for the U.S. to maintain its long-term leadership in transportation.”

Rivian’s quest to profitability and VW partnership

Rivian was initially approved to build the roughly-$5-billion factory in Georgia last November, after it first announced plans to build such a plant in 2021. The factory has been widely expected to produce the upcoming R2 electric vehicle (EV), as well as the R3 and R3X platforms that were announced unexpectedly alongside the R2 announcement in March.

Advertisement
-->

Despite having already selected a construction company for the project as of last December, Rivian also announced in March that it would start producing the R2 at its existing Illinois factory, where the R1T and R1S are built, instead of waiting until the Georgia factory was complete. The company also announced plans to delay construction of the plant, instead focusing on reaching profitability, jump-starting R2 production, and hopefully gaining additional capital to support the launch of the facility.

In June, Volkswagen announced plans to invest up to $5 billion into Rivian, the first $1 billion of which was reported to have been paid via a convertible note during the EV startup’s Q2 earnings call. Earlier this month, the two announced plans to further expand a joint venture that would see the R2 launch as soon as early 2026, along with supporting additional VW models in 2027.

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Scout Motors brings the past to the future with new models

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Advertisement
Comments

Elon Musk

Elon Musk gives nod to SpaceX’s massive, previously impossible feat

It was the booster’s 30th flight, a scenario that seemed impossible before SpaceX became a dominant force in spaceflight. 

Published

on

Credit: SpaceX/X

Elon Musk gave a nod to one of SpaceX’s most underrated feats today. Following the successful launch of the Transporter-15 mission, SpaceX seamlessly landed another Falcon 9 booster on a droneship in the middle of the ocean. 

It was the booster’s 30th flight, a scenario that seemed impossible before SpaceX became a dominant force in spaceflight. 

Elon Musk celebrates a veteran Falcon 9 booster’s feat

SpaceX completed another major milestone for its Smallsat Rideshare program on Friday, successfully launching and deploying 140 spacecraft aboard a Falcon 9 from Vandenberg Space Force Base. The mission, known as Transporter-15, lifted off two days later than planned after a scrub attributed to a ground systems issue, according to SpaceFlight Now. SpaceX confirmed that all payloads designed to separate from the rocket were deployed as planned.

The Falcon 9 used for this flight was booster B1071, one of SpaceX’s most heavily flown rockets. With its 30th mission completed, it becomes the second booster in SpaceX’s fleet to reach that milestone. B1071’s manifest includes five National Reconnaissance Office missions, NASA’s SWOT satellite, and several previous rideshare deployments, among others. Elon Musk celebrated the milestone on X, writing “30 flights of the same rocket!” in his post. 

Skeptics once dismissed reusability as unfeasible

While rocket landings are routine for SpaceX today, that was not always the case. Industry veterans previously questioned whether reusable rockets could ever achieve meaningful cost savings or operational reliability, often citing the Space Shuttle’s partial reusability as evidence of failure. 

Advertisement
-->

In 2016, Orbital ATK’s Ben Goldberg argued during a panel that even if rockets could be reusable, they do not make a lot of sense. He took issue with Elon Musk’s claims at the time, Ars Technica reported, particularly when the SpaceX founder stated that fuel costs account for just a fraction of launch costs. 

Goldberg noted that at most, studies showed only a 30% cost reduction for low-Earth orbit missions by using a reusable rocket. “You’re not going to get 100-fold. These numbers aren’t going to change by an order of magnitude. They’re just not. That’s the state of where we are today,” he said. 

Former NASA official Dan Dumbacher, who oversaw the Space Launch System, expressed similar doubts in 2014, implying that if NASA couldn’t make full reusability viable, private firms like SpaceX faced steep odds.

Continue Reading

News

Tesla AI and Autopilot VP hints that Robovan will have RV conversions

Tesla’s vice president of AI and Autopilot software, Ashok Elluswamy, hinted at the linitiative in a reply to Y Combinator CEO Garry Tan.

Published

on

(Credit: Tesla)

It appears that Tesla is indeed considering an RV in its future pipeline, though the vehicle that would be converted for the purpose would be quite interesting. This is, at least, as per recent comments by a Tesla executive on social media platform X.

Robovan as an RV

Tesla’s vice president of AI and Autopilot software, Ashok Elluswamy, hinted at the linitiative in a reply to Y Combinator CEO Garry Tan, who called for a startup to build RVs with Full Self-Driving capabilities. In his reply, Elluswamy simply stated “On it,” while including a photo of Tesla’s autonomous 20-seat people mover. 

Tesla unveiled the Robovan in October 2024 at the “We, Robot” event. The vehicle lacks a steering wheel and features a low floor for spacious interiors. The vehicle, while eclipsed by the Cybercab in news headlines, still captured the imagination of many, as hinted at by X users posting AI-generated images of Robovan RV conversions with beds, kitchens and panoramic windows on social media platforms. One such render by Tesla enthusiast Mark Anthony reached over 300,000 views on X.

Elon Musk on the Robovan

Elon Musk addressed the Robovan’s low profile in October 2024, stating the van uses automatic load-leveling suspension that raises or lowers based on road conditions. The system maintains the futuristic look while handling uneven pavement, Musk wrote on X. The CEO also stated that the Robovan is designed to be very airy inside, which would be great for an RV.

“The view from the inside is one of extreme openness, with visibility in all directions, although it may appear otherwise from the outside. The unusually low ground clearance is achieved by having an automatic load-leveling suspension that raises or lowers, based on smooth or bumpy road conditions,” Musk stated. 

Advertisement
-->

Elluswamy’s response on X suggests that Tesla is considering a Robovan RV conversion, though it would be interesting to see how the company will make the vehicle capable of reaching campsites. The Robovan has a very low ground clearance, after all, and campsites tend to be in unpaved areas. 

Continue Reading

News

Tesla tinkering with Speed Profiles on FSD v14.2.1 has gone too far

Published

on

Credit: Tesla

Tesla recently released Full Self-Driving (FSD) v14.2.1, its latest version, but the tinkering with Speed Profiles has perhaps gone too far.

We try to keep it as real as possible with Full Self-Driving operation, and we are well aware that with the new versions, some things get better, but others get worse. It is all part of the process with FSD, and refinements are usually available within a week or so.

However, the latest v14.2.1 update has brought out some major complaints with Speed Profiles, at least on my end. It seems the adjustments have gone a tad too far, and there is a sizeable gap between Profiles that are next to one another.

The gap is so large that changing between them presents a bit of an unwelcome and drastic reduction in speed, which is perhaps a tad too fast for my liking. Additionally, Speed Profiles seem to have a set Speed Limit offset, which makes it less functional in live traffic situations.

Before I go any further, I’d like to remind everyone reading this that what I am about to write is purely my opinion; it is not right or wrong, or how everyone might feel. I am well aware that driving behaviors are widely subjective; what is acceptable to one might be unacceptable to another.

Speed Profiles are ‘Set’ to a Speed

From what I’ve experienced on v14.2.1, Tesla has chosen to go with somewhat of a preset max speed for each Speed Profile. With ‘Hurry,’ it appears to be 10 MPH over the speed limit, and it will not go even a single MPH faster than that. In a 55 MPH zone, it will only travel 65 MPH. Meanwhile, ‘Standard’ seems to be fixed at between 4-5 MPH over.

This is sort of a tough thing to have fixed, in my opinion. The speed at which the car travels should not be fixed; it should be more dependent on how traffic around it is traveling.

It almost seems as if the Speed Profile chosen should be more of a Behavior Profile. Standard should perform passes only to traffic that is slower than the traffic. If traffic is traveling at 75 MPH in a 65 MPH zone, the car should travel at 75 MPH. It should pass traffic that travels slower than this.

Hurry should be more willing to overtake cars, travel more than 10 MPH over the limit, and act as if someone is in a hurry to get somewhere, hence the name. Setting strict limits on how fast it will travel seems to be a real damper on its capabilities. It did much better in previous versions.

Some Speed Profiles are Too Distant from Others

This is specifically about Hurry and Mad Max, which are neighbors in the Speed Profiles menu. Hurry will only go 10 MPH over the limit, but Mad Max will travel similarly to traffic around it. I’ve seen some people say Mad Max is too slow, but I have not had that opinion when using it.

In a 55 MPH zone during Black Friday and Small Business Saturday, it is not unusual for traffic around me to travel in the low to mid-80s. Mad Max was very suitable for some traffic situations yesterday, especially as cars were traveling very fast. However, sometimes it required me to “gear down” into Hurry, especially as, at times, it would try to pass slower traffic in the right lane, a move I’m not super fond of.

We had some readers also mention this to us:

After switching from Mad Max to Hurry, there is a very abrupt drop in speed. It is not violent by any means, but it does shift your body forward, and it seems as if it is a tad drastic and could be refined further.

Continue Reading