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  • 5 months ago
Rivian Automotive will break ground on its $5 billion Georgia production facility on September 16th after repeated delays, according to The Detroit News. The plant is located on a 2,000-acre site outside Atlanta. It is slated to begin operations in 2028 and will be central to Rivian’s R2 crossover SUV production plans. A Rivian spokesperson said the company aims to work with partners and local communities to create thousands of good-paying jobs in the industry. Georgia has offered more than $1.5 billion in incentives, contingent on Rivian meeting construction and hiring benchmarks. The development comes as Rivian faces financial headwinds, including a $100 million shortfall from declining ZEV credit sales amid loosened emissions standards under the Trump administration. The company also faces added tariff-related costs of several thousand dollars per unit.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Rivian Automotive will break ground on its $5 billion Georgia production facility on September 16th after repeated delays, according to the Detroit News.
00:09The plan is located on a 2,000-acre site outside Atlanta.
00:12It is slated to begin operations in 2028.
00:14It will be central to Rivian's R2 crossover SUV production plans.
00:18Rivian's spokesperson said the company aims to work with partners and local communities to create thousands of good-paying jobs in the industry.
00:24Georgia has offered more than $1.5 billion in incentives, contingent on Rivian Media Construction and hiring benchmarks.
00:31The development comes as Rivian faces financial headwinds, filling a $100 billion shortfall for declining ZEV credit sales amid loosened emission standards under the Trump administration.
00:40The company also faces added tariff-related costs of several thousand dollars per unit.
00:45For all things money, visit Benzinga.com.
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