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On heels of $5B announcement with VW, Rivian reveals new production figures
Electric vehicle maker Rivian had a busy second quarter, one that could prove pivotal for the startup and its promised $5 billion Georgia factory.
The manufacturing decline was anticipated because company leaders said production in Normal, Illinois, would be altered to incorporate various cost-cutting measures and technology improvements. Rivian CEO RJScaringe said the capital investment will help shore up the company’s balance sheet, support the launch of a new R2 crossover in Illinois and help make its planned Georgia factory a reality. The factory site in southern Morgan and Walton counties has been graded and transferred to Rivian’s control, but the company announced in March it was pausing its construction plans to focus on launching the R2 in Illinois.
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