_rivian-to-invest-361-5-billion-create-550-jobs-in-illinois-factory-expansion.jpg "Rivian to Invest $1.5 Billion, Create 550 Jobs in Illinois Factory Expansion from launch accident Video Screenshot Preview")
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✓ Published: 04-May-2024
👁 View: 9.6M times
✓ Published: 04-May-2024
Description:
Rivian will invest $1.5 billion to expand its Normal, Illinois factory and add over 550 jobs to produce its new electric SUV. The expansion is backed by over $800 million in state incentives from Illinois' REV program over 30 years if targets are met. Rivian received over 68,000 pre-orders for the R2 in its first 24 hours on sale online. Producing the R2 in Normal will expedite its launch and save over $2 billion versus building a new plant in Georgia. The R2 is expected to start production in 2026 at the expanded 4 million sqft Normal factory alongside the R1 vehicles.
Rivian will invest $1.5 billion to expand its Normal, Illinois factory and add over 550 jobs to produce its new electric SUV. The expansion is backed by over $800 million in state incentives from Illinois' REV program over 30 years if targets are met. Rivian received over 68,000 pre-orders for the R2 in its first 24 hours on sale online. Producing the R2 in Normal will expedite its launch and save over $2 billion versus building a new plant in Georgia. The R2 is expected to start production in 2026 at the expanded 4 million sqft Normal factory alongside the R1 vehicles.
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