Rivian nabs incentives worth $1.5Bn for new Georgia EV factory

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Rivian, an American electric vehicle automaker, has recently secured an incentive package worth up to $1.5 billion for its forthcoming electric vehicle factory in Georgia.

Not so long ago, Rivian announced unveiling a new electric factory in Georgia worth $5 billion after commencing the production of its first electric vehicles at its Illinois factory.

Sources state that the incentive package will be valued at around $1.5 billion if the investment by the company is completed fully within 25 years, which includes it investing $5 billion.

The GDEcD (Georgia Department of Economic Development), in collaboration with the JDA (Joint Development Authority) of Jasper County, Newton County, Morgan County, and Walton County, announced that the agreement on economic development had been inked by the JDA, Rivian and Georgia for moving forward on the automaker’s Georgia project worth $5 billion,

The plant is expected to create 7,500 jobs with an average salary of $56,000 at Stanton Springs North Additionally, Rivian also issued a statement on its updated site plan for the east of Atlanta, a carbon-conscious campus off I-20.

While commenting on the significance of the deal, Pat Wilson, Georgia Department of Economic Development Commissioner, said that Rivian is a momentous win for Georgia which puts the great state at the vanguard of the electric vehicle transformation.

The country is now pleased to share more of the far-fetched benefits this project is bringing to the region and could not be prouder of the positive impacts the projects will be having on the schools, families, and communities.

Rivian will not only be employing thousands of Georgians with well-paid jobs in the future, but this will also be a new addition to the business community of Georgia, Wilson added.

Source Credit - https://electrek.co/2022/05/02/rivian-secures-incentive-upcoming-georgia-ev-factory/