Rivian's Georgia Land Deal Paves the Way for New EV Plant and R2 Electric Vehicles

Rivian has secured a 50-year lease agreement for 1,800 acres in Georgia to build its new $5 billion EV plant, where the company's next-gen R2 electric vehicles will be manufactured. The facility is expected to create 7,500 jobs and begin production in 2026. Despite facing legal battles over its incentive package, Rivian plans to start construction soon, with a groundbreaking ceremony scheduled for early 2024. The plant will have the capacity to produce 400,000 EVs annually, significantly higher than its Illinois facility.