City officials approve a $440 million tax incentive package.
The factory will purportedly cost $5 billion.
The new facility will be capable of producing 200,000 annually.
The California-based electric vehicle builder has been touted as the next Tesla. The difference however is that Rivian has yet to deliver a single vehicle to one of its many pre-order holders. Even so, investments and funding continue to pour in and it is with this momentum that Rivian’s already shopping for a location for a second factory.
The first facility, located in Normal, Illinois, should be churning out R1S and R1T vehicles very shortly but demand is already projected to outstrip production capacity. As we know, Amazon is waiting on 100,000 delivery vans and the interest in Rivian’s two current models is huge.
At the moment, Fort Worth, Texas is the front-runner as the potential location for a new factory. City officials have approved a $440 million tax incentive package based on the potential of 7,500 new jobs at the facility.
“With an anchor tenant like Rivian that is technology-focused, forward-thinking and really building for the future, you’re going to attract like-minded businesses and offices that want to have corporate campuses near a hub of technology,” Greg Miller, a spokesman for the Walsh Companies, said in a phone interview as reported by The Pantagraph, after the City Council vote.