Georgia Wins Rivian Over for Second EV Manufacturing Plant

Rivian has chosen Georgia as the location of its second production plant for its vehicles. 

The automaker cited its decision in its third-quarter earnings report for 2021. The Georgia plant is chosen to build EVs and batteries.

According to a report from Bloomberg about the matter, the agreement has yet to be signed by the company and government officials.

The states of Texas and Arizona were rumored to be in the running for the factory. The Fort Worth City Council approved $440 million in tax breaks in mid-August, contingent on Rivian meeting various targets, including hiring at least 7,500 workers by the end of 2027.

Rivian rolled out electric R1T pickup trucks in September from its plant in Normal, and the company plans to produce electric R1S sport utility vehicles by the end of this year. Also, Amazon has contracted with the automaker to manufacture 100,000 electric delivery vans.

Rivian’s initial sale of company stock was considered the most successful IPO this year.

The share price for Rivian, trading under the symbol RIVN on the NASDAQ exchange, was at $114.66 at Friday’s close, and was little changed in after-hours trading.

Hanson F.https://thevolter.com
Hanson is a lover of electric cars especially Rivian. He is a contributor for The Volter as well as other news hubs

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