"The money-losing California-based company breaks ground Tuesday east of Atlanta despite President Donald Trump's successful push to roll back electric vehicle tax credits. Starting Sept. 30, buyers will no longer qualify for savings of up to $7,500 per car. Rivian Chief Policy Officer Alan Hoffman said the company believes it can sell electric vehicles not for environmental or tax incentive reasons, but because they're superior."
"The Georgia plant, first announced in 2021, is Rivian's key to reaching profitability. Now the company makes the high-end R1T pickup truck and the R1S sport utility vehicle in Normal, Illinois, as well as delivery vans for Amazon and others. Its truck prices start at $71,000. The Illinois plant will begin making smaller R2 SUVs next year, with prices starting at $45,000."
Rivian has begun long-delayed work on a $5 billion manufacturing facility in Georgia to scale production and drive toward profitability. The company is breaking ground despite the rollback of federal EV tax credits that remove up to $7,500 in savings for buyers starting Sept. 30. Rivian currently produces high-end R1T trucks, R1S SUVs and delivery vans, with truck prices starting at $71,000. An Illinois plant will add smaller R2 SUVs next year at about $45,000, and Rivian plans Georgia capacity of 200,000 vehicles by 2028 with a second 200,000-vehicle phase planned.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]