Electric vehicle maker Rivian, will build a vehicle assembly facility and battery factory in Georgia.
Reporting from Bloomberg on Saturday (12/11/2021), an anonymous source said the California-based automaker is expected to announce its plans at an event on Thursday, (12/16/2021).
Previously, Rivian had considered Texas and Arizona as plant locations. However, the company chose Georgia for the time being, although no deal has yet been signed. Rivian’s representative has not yet commented on this matter.
Rivian first launched its first model in September in the form of a pickup. Rivian will soon launch an electric SUV, the R1S, from its factory in Normal, Illinois, at the end of the year.
The Jeff Bezos-backed company has placed an order to manufacture 100,000 battery-powered vans for Amazon.com Inc., its biggest investor with a 20 percent stake.
The start-up, which made its IPO in November and has a valuation of US$100 billion, already has a market value greater than General Motors Co., despite producing fewer vehicles at around 400 vehicles as of October 31.
Rivian will report quarterly earnings on Thursday for the first time since going public.
Meanwhile, General Motors Co., also recently revealed plans to build its third battery factory in the US by partnering with LG Chem Ltd., in Michigan. In addition, its factory in Orion will also be dedicated to the EV business.
The Detroit-based manufacturer has applied for tax incentives for projects in Orion Township and outside Lansing, Michigan, a source said. The cost required reaches US $ 4 billion.
“GM is developing a business for potential future investment in Michigan. As part of developing a competitive business case, we are discussing with local local officials about the incentives available,” spokesman Dan Flores said in an email.