Rivian declined a request to remark.
Musk emerged as a key donor and political operative for President-elect Donald Trump in the course of the presidential contest towards Vice President Kamala Harris. Since the election, Trump has tapped Musk and Ramaswamy for a job in an effort to slash the federal authorities.
Musk’s Tesla was granted a mortgage from the Department of Energy program in 2010.
Credit: AP
Credit: AP
In March, California-based Rivian paused the Georgia plant’s building indefinitely to chop prices and shifted its manufacturing of its subsequent mannequin, the R2 crossover, to its Illinois plant. At the time, Rivian mentioned it nonetheless deliberate to develop manufacturing of the R2 within the new Georgia manufacturing unit and construct not less than two different future fashions, the R3 and R3x.
But it was unclear when the challenge would restart.
In late 2021, Gov. Brian Kemp recruited Rivian to construct the $5 billion manufacturing unit, the place the upstart EV firm mentioned it will create 7,500 jobs. At the time, it ranked as Georgia’s largest financial growth challenge, since surpassed by the Hyundai Motor Group’s EV manufacturing unit close to Savannah.
Credit: John Bazemore/AP
Credit: John Bazemore/AP
But the Rivian challenge stalled as the electrical car firm struggled to succeed in profitability.
About two months in the past, earlier than the election, Rivian’s software for the mortgage turned public, although it was probably in progress for months earlier than then.
Rivian mentioned the Georgia manufacturing unit can be 9 million sq. ft and in a position to produce as much as 400,000 automobiles by 2032.
Credit: TNS
Credit: TNS
The R2 is estimated to start out at $42,000, in line with the mortgage applications workplace, which might make the mannequin eligible for a $7,500 tax break by way of the Inflation Reduction Act. The invoice is a part of a push from Democrats and President Joe Biden to incentivize EVs. Currently, most Rivian fashions don’t qualify for the tax credit score.
Trump chosen Ramaswamy and Musk to run the unofficial federal company, the Department of Government Efficiency, or DOGE, throughout Trump’s second time period.
Credit: AP
Credit: AP
The duo mentioned they goal to chop as much as $2 trillion in authorities spending and slash extra laws.
Trump has criticized federal incentives to carry EV manufacturing to the U.S. and promised to roll a few of them again throughout his second time period.
Cox Enterprises, which owns The Atlanta Journal-Constitution, additionally owns a few 3% stake in Rivian.
