Rivian announces a new $5 billion electric vehicle factory in Georgia

Industry

Rivian announced a new $5 billion electric vehicle factory just outside of Atlanta, Georgia.

The electric automaker plans to start production at the new plant in 2024.

Rivian has just started production of its first electric vehicles – the R1T electric pickup truck and R1S electric SUV, at its factory in Illinois – and it still has a long way to ramp up production.

But the automaker wants to quickly use its knowledge acquired in building production capacity in Illinois and apply it to a brand new factory.

Earlier this summer, Rivian raised $2.5 billion and confirmed that it is looking for a second US EV factory location.

More recently, the company went public and raised even more capital in the process.

Today, Rivian announced that it settled on a large 2,000-acres site next to Atlanta:

“Rivian will expand its manufacturing operations, locating its second U.S. plant in the state of Georgia. A carbon-conscious campus is planned east of Atlanta, in Morgan and Walton Counties. The project represents a $5-billion site development and manufacturing investment.”

The automaker confirmed that construction will begin next summer and it aims to start production by 2024:

“The plant, which will eventually employ more than 7,500 workers, represents a key next step as Rivian scales aggressively toward higher-capacity production for our future generation of products. Once ramped, the Georgia facility will be capable of producing up to 400,000 vehicles per year. Construction on the facility is expected to begin in summer 2022, and the start of production is slated for 2024. Site considerations included logistics, environmental impact, renewable energy production, availability and quality of talent and fit with Rivian company culture.”

Rivian Chief People Officer Helen Russell commented on the announcement:

“We’re happy to partner with Georgia on our new manufacturing site, which will build our next generation of products that are important for scaling our business. Our work together is driven by a compelling purpose and rooted in building a highly collaborative environment that creates a true sense of belonging. We’re excited for Georgians to bring their creativity and ideas to Rivian. We’re confident that, alongside Illinois, Georgia is the place for Rivian to continue to scale and thrive,”

Rivian didn’t confirm what models it plans to produce at the new factory.

The automaker currently produces the R1T, R1S, and an electric delivery van for Amazon, one of its main investors.

While it is investing a significant amount in Georgia, Rivian confirmed that it still plans to continue investing in Illinois with a new 623,000-square-foot expansion recently approved at its Normal factory.

If the production ramps are successful, the two facilities could make Rivian a major player in the US auto industry.


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