Mar 14, 2024 - Business

Rivian reaffirms commitment to $5B Georgia factory

Thomas Wheatley

A man stands next to a gray silver sleek midsize SUV at a publicity event — Rivian founder and CEO RJ Scaringe unveils an R3 prototype this month. Photo: Kyle Grillot/Bloomberg via Getty Images

Gov. Brian Kemp and Rivian CEO R.J. Scaringe reassured Georgians this week that the pause on construction of Rivian's $5 billion EV manufacturing facility east of Atlanta remains temporary.

Why it matters: The Rivian plant, which state leaders attracted with a reported $1.5 billion in incentives, is one of the biggest economic development deals in Georgia's history with the promise of 7,500 new jobs.

The latest: In an interview published this week, Scaringe said the company's "number one objective" is to build and launch the R2 midsize SUV and turn a profit.

It's cheaper to achieve that objective at the company's existing facility in Illinois, he said. "We're deeply committed to the state."

What's next: When the R2 is ready for a larger rollout, Scaringe said, the Morgan County plant would handle the mass production.

No plans have been announced for the 1,800-acre megasite. Crews have already cleared and graded the land.

"There is no doubt here. We're under contract with them," Gov. Brian Kemp said earlier this week, according to Fox 5. "The state is in a really good place."

The state's contract with Rivian runs until 2030, Georgia's economic development commissioner Pat Wilson told state senators this week.

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Rivian reaffirms commitment to $5B Georgia factory

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