Rivian will spend $5 billion to build a second assembly plant in Georgia to make electric vehicles to meet growing demand and plans for an expanded portfolio.
Construction of the new plant, which will be located about 30 miles east of Atlanta, begins in summer 2022 with a goal of building the first saleable vehicles in 2024, Rivian CEO RJ Scaringe announced today.
The workforce of about 7,500 people will build future products, including the Rivian brand’s R2 lineup of smaller electric vehicles.
The plant will have the capacity to build 400,000 vehicles a year and Rivian will add battery cell production to the site shortly after vehicle assembly begins. Cell production will increase quickly in subsequent years, Scaringe told investors on a call to discuss third-quarter earnings.
Scaringe said Rivian has a three-prong approach to sourcing batteries, all of which are being pursued in parallel. They include sourcing cells from Samsung; co-investing in joint venture capacity with suppliers (not yet announced); and controlling the materials and design of cells in-house. All three will be critical as Rivian continues to grow, he says.