Rivian Automotive Inc (RIVN): EV startup Rivian to build plant in Geor...

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John-Knee

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Thursday, 12/16/2021 4:19:27 PM

Thursday, December 16, 2021 4:19:27 PM

EV startup Rivian to build plant in Georgia, posts quarterly loss
2021-12-16 04:16:57 PM ET (Reuters)

DETROIT, Dec 16 (Reuters) - Amazon-backed electric vehicle startup Rivian Automotive Inc on Thursday said it will build a plant in Georgia, its second U.S. assembly plant, as it looks to expand production.

In its first publicly reported quarterly results since it went public last month, Rivian also reported a third-quarter loss.

The new plant will employ more than 7,500 people, is scheduled to open in 2024 and will eventually build 400,000 vehicles a year, largely confirming plans previously outlined in documents filed with other states. (Reporting by Ben Klayman in Detroit; Editing by David Gregorio)

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