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Rivian's $827 million boost to Illinois plant

Rivian Automotive, Inc., a pioneer in electric vehicle technology, will significantly expand its manufacturing capabilities. The company has secured an $827 million incentive package from the Illinois Department of Commerce & Economic Opportunity. This financing will facilitate Rivian's expansion of its Normal, Illinois facility and mark a significant phase in its growth trajectory.

Key Highlights

  • $827 million in government funding: The state's extensive financial support is used to expand the existing facility and improve the public infrastructure.
  • Focus on R2 SUV production: The investment will primarily support production of Rivian's new midsize SUV, the R2, expanding the company's product line.
  • Community and Economic Development: Rivian's expansion is expected to play a critical role in local job creation and community development projects.

RJ Scaringe, founder and CEO of Rivian, thanked the state for its support, which is critical to the rapid launch of the R2 model. “Government support will enable us to quickly bring our R2 mid-size SUV to market and offer consumers an even greater choice of electric vehicles,” explained Scaringe.

Governor JB Pritzker emphasized the long-term economic and environmental benefits of this partnership. “Illinois is poised to be a leader in this market for years to come, creating quality jobs and revitalizing communities across the state,” Pritzker noted. He emphasized that any investment in the electric vehicle sector represents progress towards the country's economic and environmental goals.

Rivian's continued commitment to Illinois

Rivian has already invested over $2 billion in the Normal facility and contributed approximately $3.9 billion to the local economy in just three years. The company's commitment has not only boosted the local economy, but also promoted significant development in the region.

Since production began in 2021, Rivian's Normal factory has manufactured over 100,000 electric vehicles. These efforts underscore Rivian's commitment to innovation and its role in advancing the electric vehicle industry.

About Rivian

Based in the United States, Rivian is dedicated to building electric vehicles that lead in performance, innovation and sustainability. The company's mission is to revolutionize transportation through its range of vehicles and services, support a zero-emission future and promote global environmental protection.

For more information about Rivian and its initiatives, visit www.rivian.com.

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