After months of speculation, Rivian, an electric transportation startup, shared where it plans to build a second factory. In the summer of 2022, the automaker will break ground at a facility about an hour east of Atlanta, Georgia, it announced Thursday. Once the factory is completed sometime in 2024, the company hopes to eventually produce 400,000 electric vehicles there. It also plans to build a battery manufacturing facility nearby.
Rivian says the EV facility will cost about $5 billion to build and will employ more than 7,500 workers. The company will pay it off with the proceeds from its recent November 10 IPO. Once completed, the facility will significantly increase Rivan’s production capacity. The automaker claims its first and currently only plant in Normal, Illinois can produce about 150,000 cars per year. It plans to eventually produce about 200,000 each year.
That may seem like a lot, but Rivian is still scaling production and meeting demand for its vehicles. On December 15, 2021, the company said it had produced 652 of its R1 vehicles. On that same day, it had a total of 71,000 pre-orders from customers. It must also produce a minimum of 100,000 trucks for Amazon. In other words, it has its work cut out for it.
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