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Rivian confirms new $5 billion U.S. plant as EV reservations jump 28% to 71,000

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RJ Scaringe and team on opening day at Rivian’s manufacturing campus in Normal, IL.

Source: Rivian

Rivian Automotive confirmed plans Thursday to build a new vehicle assembly plant in Georgia, as the company begins production of a second electric vehicle at its current facility in Illinois.

Both are notable milestones for Rivian, which also reported its first quarterly results as a public company after market close. The company said reservations for its electric R1T pickup and R1S SUV increased to 71,000, up 28% compared with the most recent tally of 55,400 vehicles in November.

The company’s quarterly results fell in line with estimates the company previously released as part of its recent…



Source cnbc.com

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