Rivian Automotive on Thursday said it has renegotiated a $6.57 billion loan from the U.S. Department of Energy down to $4.5 billion and is adjusting its production expectations at an under-construction plant in Georgia. The DOE loan was previously set to support two phases of production for a total of 400,000 units annually. The amended loan covers one phase of production with a total capacity of 300,000 vehicles, the company said Thursday. The changes allow Rivian to draw on the loan sooner and have greater initial production but lowers its total production capacity for the plant amid uncertain demand for all-electric vehicles. The initial loan terms were negotiated under the Biden administration. It had been in limbo under the Trump administration, which has taken action to cut or reduce such loans and has pulled back government investments to promote EVs. Rivian said it plans to tap into the loan in 2027, a year ahead of previously scheduled.…