Copyright infringement

Rivian lands $1.5B incentives package to build massive EV factory in Georgia –

Rivian will receive a $ 1.5 billion incentive package to build its own factory in Georgia, according to the documents posted Monday by the state Department of Economic Development.

The big carrot – the largest in state history – comes with several promises from Rivian, including that it will employ 7,500 people who will receive an average annual salary of $ 56,000 by the end of 2028. Rivian has also agreed to $ $ 5 billion invested in a project plant near Atlanta at the same time.

The packages include a combination of tax incentives and other discounts. State and local incentives cost $ 1.28 billion. An additional $ 198 million for site and road improvements is also part of the package.

Construction is expected to begin in the summer of 2022 with production beginning in 2024.

Rivian announced in December plans to build a second factory east of Atlanta in the states of Morgan and Walton that would have double the annual production capacity of its Normal, Illinois factory. The Georgia plant, which is thought to be home to a battery cell production center, will have an annual production target of 400,000 cars per year.

Company said in a 2021 shareholder letter has chosen the location due to its combination of sustainable business operations, pool capacity, and proximity to supply chain and logistics.

Despite its suitability for the Rivian venue, some residents protested what was described as the largest economic development project in Georgia’s history. Concerns about the environment and groundwater are worrying that the plant could increase the flow of people and vehicles, lead to urban sprawl and change the rural environment.

Stay tuned for updates