RIVN Stock Alert: Rivian Halts Construction of Georgia Plant
Rivian AutomotiveRivian Automotive(US:RIVN) InvestorPlace·2024-03-08 22:44

Electric vehicle (EV) manufacturer Rivian (NASDAQ:RIVN) will make its upcoming R2 car in Illinois. It is also pausing work on a planned manufacturing plant in Georgia.  The Georgia state government had pledged 1.5billionintaxincentivesfortheplant,whichisexpectedtoemploy7,500peopleandmake400,000carsperyear.RIVNstockrose131.5 billion in “tax incentives” for the plant, which is expected to employ 7,500 people and make 400,000 cars per year.RIVN stock rose 13% on March 7 and another 5% overnight. It opened at 13.10 per share, a market capitalization of $12.7 billion.One More ThingCEO R.J. Scaringe pulled out “one more ...

Rivian Automotive-RIVN Stock Alert: Rivian Halts Construction of Georgia Plant - Reportify