Twelve years after it was originally founded, electric vehicle maker Rivian Automotive is finally preparing to roll out its first production vehicles later this year.
The company endured a long, slow, occasionally bumpy ride from startup to near-production automaker, including a move from California to Michigan, the purchase of a former Mitsubishi auto factory, and, most recently, hiccups caused by the COVID-19 pandemic.
But now that its debut plant in Illinois is almost ready to start churning out its first trucks and SUVs, Rivian appears to be moving toward much more aggressive expansion.
The company is planning a second U.S. plant that would also feature a battery cell production facility, sources familiar with the matter told Reuters.
Rivian officials would only say that the company is exploring locations for a second U.S. factory, but the report indicated that multiple states have bid for the project and that a site is slated to be announced in a couple months’ time.
The project, between battery production and vehicle assembly operations, could be worth more than $3 billion, but the company could be in a strong position to pay for it if it, as reported, elects to become a publicly traded company with an initial value of $50 billion.
Rivian plans to launch its first vehicle, the R1T pickup, in September, with the R1S SUV to follow in the fall. The company is also building tens of thousands of electric delivery vans for Amazon.
