Sumary of Amazon-backed Rivian confirms plan for second U.S. assembly plant:
- Breadcrumb Trail Links PMN Technology PMN Business Author of the article: Reuters Paul Lienert and David Shepardson and Ben Klayman Publishing date: Jul 22, 2021 • 14 minutes ago • 3 minute read • Join the conversation Article content DETROIT/WASHINGTON — Amazon.
- com Inc -backed electric vehicle startup Rivian Automotive plans to build a second U.S. assembly plant that will also include battery cell production, according to four people familiar with the matter.
- “While it’s early in an evolving process, Rivian is exploring locations for a second U.S. manufacturing facility,” Rivian spokeswoman Amy Mast said on Thursday.
- Article content “We look forward to working with a supportive, technology-forward community in order to create a partnership as strong as the one we have with Normal,” Mast said.
- The typical cost of a new vehicle assembly plant at present is $1 billion or more, while a battery cell production factory is at least $2 billion.
- In the United States, traditional carmakers like General Motors Co and Ford Motor Co are retrofitting plants for EV production, while Tesla Inc, Taiwanese contract manufacturer Foxconn, and startups including Lucid and Canoo have existing plants or are adding them.
- Article content California-based Rivian, also backed by Ford and T.
- Rivian will seek a valuation of well over $50 billion in a potential public listing later this year, according to another source familiar with the matter.