On October 7, 2026, Rivian Automotive announced the funding of a committed $1.0 billion, 10-year term loan facility from Volkswagen Group. The financing is structured through two non-recourse loans: Loan A ($1.0B) between the joint venture and VW Specter LLC, secured by JV assets, and Loan B ($1.0B) between Rivian's subsidiary and the joint venture, secured by equity interests in the JV. Proceeds from Loan B were distributed to Rivian for general corporate purposes. The facility carries a 6.03% fixed interest rate, matures on October 7, 2036, and requires annual principal amortization of $100 million beginning in 2029. This transaction supports the company's electric vehicle manufacturing operations and strategic partnership with Volkswagen.
