Rivian receives over $800 million in incentive package, expands operations at

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Last week, Rivian Automotive, Inc. announced a hefty incentive package and plans to increase the capacity of one of its plants.

Rivian received a $827 million incentive package from the State of Illinois Department of Commerce & Economic Opportunity.

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This will allow the company to increase the capacity of plant improvements in public infrastructure and job training programs for Rivian’s workforce. This will also lead to the company’s production of its midsized SUV, R2.

Rivian founder and CEO RJ Scaringe said they are grateful for the investment.

“We are grateful for this investment from the State of Illinois and for the leadership of Governor Pritzker, President Harmon, and Speaker Welch,” said Scaringe.

Back in July 2022, Channel 2 Action News got an exclusive look inside of the Rivian manufacturing plant in Illinois. The automaker builds luxury, electric trucks and SUVs that sell between $70,000 to $80,000.

Rivian will be participating in several city improvement projects to demonstrate its ongoing commitment to investing in the Illinois economy and community.

Last month, executives for Rivian said they are committed to building a $5 billion manufacturing plant in Georgia.

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Channel 2′s Richard Elliot got an exclusive first look at the R-2, the R-3 and the R-3x Rivian vehicles that the electric vehicle manufacturer says will be built here in Georgia.

Elliot met executives from Rivian at the 2000-acre site to talk about their commitment to Georgia, a month after they announced they were pausing their construction plans here in Georgia, an announcement that made a lot of Georgia lawmakers nervous.

Georgia officials announced back in November that Rivian received final approval for expanding its footprint in Georgia.

Since production began in 2021, Rivian’s Normal facility has manufactured over 100,000 electric vehicles.

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This article was originally published by a finance.yahoo.com

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