Tesla rival Rivian misses production target – further factory planned
A Tesla charging station: E-cars are charged here. pexels.com
IRVINE (dpa-AFX) – The US electric car maker and stock market shooting star Rivian
Rivian went public in November and made a brilliant debut. Rivian manufactures electrically powered pick-ups and had sparked the imagination of investors – the US competitor Tesla is by far the most valuable car manufacturer in the world because professional investors are betting on a great future in manufacturers who are purely electric drives. In the meantime, Rivian was even more valuable on the stock exchange than Volkswagen (VW share)
Rivian announced plans to build another factory. The automaker’s second plant is to be built in the state of Georgia. Investments of 5 billion dollars are planned, more than 7,500 people are expected to work there. The factory is expected to produce up to 400,000 cars a year; the first cars are to be manufactured in 2024. The production capacity of the existing plant in Normal in the state of Illinois is to be increased from the previously planned 150,000 to 200,000./men
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