The image above depicts EV manufacturing facilities, distinguished by their production focus, that have received federal funding through the Department of Energy’s Loan Programs Office. Source: EV Jobs Hub
To date, the Department of Energy’s Loan Programs Office (LPO) has awarded nearly $35 billion in loans (including both conditional and finalized loans) to support electric vehicle (EV) manufacturing. For more on how the total is calculated, see EV Jobs Hub methodology.
The two most recently announced conditional loans total over $14.1 billion, with $6.57 billion and $7.54 billion going to Rivian and StarPlus Energy, respectively. If finalized, the loans for both Rivian and StarPlus Energy would be funded through the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. The ATVM was originally authorized by the Energy Independence and Security Act of 2007 and received a $3 billion boost in appropriations through the Inflation Reduction Act. Among other projects funded through ATVM is the Ultium Cells facility, which we featured in a previous digest.
These federal loans continue to spur private sector investment in EV and battery manufacturing across the United States, offering a strong foundation for companies to expand domestic production and create local jobs. Automakers have announced nearly $211 billion in EV and battery manufacturing investment in the United States to date, creating an estimated 241,000 production jobs. More information on LPO’s recent conditional loans approvals for Rivian and StarPlus Energy is below.
Conditional Commitment of $6.57 billion for Rivian
LPO announced a $6.57 billion conditional loan to Rivian on November 25th. This funding will go towards development and construction of an EV manufacturing project in Georgia called Project Horizon. Once operational, Project Horizon will focus specifically on mid-sized EVs, the first in Rivan’s product portfolio. The facility is anticipated to produce 200,000 EVs annually starting in 2028 and an additional 200,000 annually starting in 2030, a total which corresponds to a displacement of 146 million gallons of annual fuel consumption.
The plant will be in Staton Springs, Georgia and is expected to create nearly 10,000 jobs (2,000 in construction and 7,500 in operations) by 2030. As part of Project Horizon’s Community Benefits Plan, at least 25 percent of these jobs will be filled from within the local community and Rivian is collaborating with local technical colleges to develop workforce training programs to support this goal. Additionally, in line with Justice40 requirements, 40 percent of the benefits derived from Project Horizon will go to disadvantaged communities.
This is the latest of several EV manufacturing facilities to be located in the Southeast and Georgia in particular which leads the country in announced EV manufacturing jobs with over 27,000.
Conditional Commitment of $7.54 billion for StarPlus Energy
Last Monday, LPO announced a conditional loan of $7.54 billion for StarPlus Energy for two lithium-ion battery cell and module manufacturing plants in Indiana. The first is already under construction and is projected to begin operations in early 2025. The batteries manufactured by these two plants will be sold to Stellantis to supply approximately 670,000 EVs each year. As such, the plant will be indirectly responsible for saving approximately 260.3 million gallons of petroleum annually.
Located in Kokomo, Indiana, this project will directly create as many as 6,000 jobs (3,200 construction and 2,800 operations). Like Rivian, StarPlus is working with local educational institutions to train a local workforce to fill these jobs. This project also falls under Justice40, ensuring that benefits directly flow to disadvantaged communities.
In Indiana, companies have already announced $14 billion in investment and 8,400 jobs to support EV manufacturing in the state.
For more on federal support and private sector investment in EV and battery manufacturing, visit our EV Jobs Hub.
