Rivian Automotive Inc., the electric vehicle startup valued at more than $ 100 billion, plans to announce that it will build a vehicle and battery assembly plant in Georgia, according to people familiar with the matter.
The Irvine, California-based automaker, which had also considered other sites like Texas and Arizona, is expected to reveal the plans at an event Thursday, according to the people, who asked not to be identified when discussing the information before be public. While Georgia has been tentatively selected, no agreement has yet been signed, some of the people said.
A representative of Rivian declined to comment.
The company launched its first model in September, the R1T plug-in pickup, and plans to launch an electric SUV, the R1S, from its factory in Normal, Illinois, by the end of the year. The manufacturer also has an order to produce 100,000 battery-powered delivery trucks for Amazon.com Inc., its largest investor with a 20% stake.
The startup, which went public on November 10, currently has a higher market value than General Motors Co. even though it reported a production of less than 400 vehicles as of October 31, “almost every”Given to employees.
The same Thursday, Rivian will report quarterly earnings for the first time since it went public.
The move to Georgia would be good news for that state, which has been ignored by several Asian and European automakers, and has only one vehicle assembly factory, a Kia Motors plant in West Point, near the US border. Alabama.
Recently, the South Korean battery manufacturer SK Innovation built a $ 2.6 billion factory in Jackson County, Georgia, to make power sources for electric vehicles, including the Ford F-150 Lightning pickup that goes on sale next spring.
The Atlanta Journal-Constitution previously reported on Rivian’s plans to build the plant in Georgia.
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