Following months of speculation, electric transport startup Rivian shared where it plans to build a second factory. In the summer of 2022, the automaker will break ground on a facility about an hour east of Atlanta, Georgia, it announced on Thursday. Once the plant is complete sometime in 2024, the company hopes to eventually produce 400,000 electric vehicles there. It also plans to build a battery production facility nearby.
Rivian says the EV facility will cost approximately $5 billion to build and will employ more than 7,500 employees. The company will pay for it with proceeds from its recent November 10th IPO. Once complete, the facility will significantly boost Rivan’s manufacturing capacity. The automaker claims its first and currently only factory in Normal, Illinois can produce about 150,000 cars annually. It plans to eventually manufacture about 200,000 there every year.
That might seem like a lot but Rivian is still in the process of scaling production and meeting demand for its vehicles. As of December 15th, 2021, the company said it had produced 652 of its R1 vehicles. As of that same day, it had a total of 71,000 pre-orders from customers. It also needs to produce at least 100,000 trucks for Amazon. In other words, it has its work cut out for it.