Rivian Plans $5B Electric Truck Manufacturing Plant Near Atlanta
RUTLEDGE, GA. — Rivian Inc. (NASDAQ: RIVN), an Irvine, Calif.-based electric truck manufacturer, has announced plans for the East Atlanta Megasite, a $5 billion manufacturing plant about 50 miles east of downtown Atlanta. The site is located between Social Circle and Rutledge on Interstate 20, according to The Atlanta Journal-Constitution.
Construction on the plant is slated to start in the summer of 2022, with plans to open by 2024. The manufacturing plant is the largest economic development in Georgia’s history, according to a press release by Georgia Governor Brian Kemp.
With the new plant, Rivian says it will create approximately 7,500 jobs. The manufacturer plans to develop community engagement and workforce training programs in the area of the new plant. Additionally, Georgia Quick Start, a division of the Technical College System of Georgia and provider of workforce training, plans to build and operate a manufacturing training center. The Georgia Department of Labor also plans to assist Rivian in finding skilled employees to work at the Georgian plant.
The plant could have up to 10,000 workers, which would mean the project would be the biggest car assembly project in the country, according to CNBC. The East Atlanta Megasite, which is located on nearly 2,000 acres, could produce up to 400,000 cars annually once complete.
The Joint Development Authority of Jasper, Morgan, Newton and Walton counties represented the East Atlanta Megasite in the development plans. Other partners on the project include the Georgia Ports Authority, the Georgia Department of Transportation, Georgia Quick Start, the Metro Atlanta Chamber of Commerce and Georgia Power.
In a press release, Pat Wilson, the Georgia Department of Economic Development commissioner, says Rivian’s new plant will have a huge impact on the state.
“For Rivian, sustainability doesn’t stop with just making EVs (electric vehicles), it is carried throughout their work, going so far as to carefully plan construction efforts at the site to preserve and protect the beauty and uniqueness of their new home,” says Wilson.
Rivian’s current manufacturing plant is in Normal, Ill., which the company purchased in 2017 for $16 million, according to CNBC. The news outlet says this site can produce around 150,000 vehicles each year. The plant was recently approved for a 623,000-square-foot expansion, which will make the total square footage of the Illinois plant about 4 million square feet.
Despite big plans for the company’s future, Rivian Automotive’s stock shares fell on Friday, Dec. 17, according to CNBC. The news outlet attributes the lower shares, which were down 15 percent to less than $93 per share, on the manufacturer’s supply chain and production issues. The company only began trading on the stock market on Nov. 10 of this year, with its value peaking at $172.01 per share on Nov. 16.
— Julia Sanders