US electric vehicle manufacturer Rivian has announced plans to expand its manufacturing operations and build a second U.S. plant in the state of Georgia. This is stated in a message on the company’s website. Construction will begin in the summer of 2022, with a launch scheduled for 2024.
The investment in the project will amount to $ 5 billion. It is planned that more than 7,500 people will work at the plant. Once launched, the Georgia plant will be able to produce up to 400,000 electric vehicles a year – twice the capacity of the first Illinois plant, which will also expand production. The report also says that the company has received permission to increase the area of the plant in the city of Normal to 370,000 square meters. m. In 2022, the total number of employees will increase by 800-1000 people.
Rivian held an IPO in November. The company’s shares at the opening of trading rose 53% against the starting price to $ 106.75 per share, and their total value exceeded $ 100 billion. Later, they lost some of their growth and by the close were worth $ 100.74 per share (+ 29%). Thus, the capitalization of Rivian amounted to $ 85.9 billion. This is the third largest indicator among American automakers after Tesla ($ 1.06 trillion) and General Motors ($ 86.05 billion).
In September, the company became the first automaker to bring an electric pickup to the consumer market, ahead of Tesla, General Motors and other competitors. In addition, Rivian is developing commercial electric vans for Amazon.
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