Report: Rivian Planning $5B Arizona Factory

Rivian plans to invest $5 billion in a second factory for its electric vehicles, according to a report from Reuters.

The initiative dubbed “Project Tera,” requires an estimated 10,000 acres of land according to a revised economic development document seen by Reuters. The initial proposal only required 2,000 acres.

The plant will reportedly include a 50 gigawatt-hour (GWh) battery cell production operation and a product and technology center. The factory is excepted to bring 10,000 jobs to the region, according to the report.

The company hopes to start construction of the plant in fall of 2021 and production of vehicles at the plant in the second quarter of 2023. Rivian is reportedly considering land east of Mesa, Arizona, near Gold Canyon.

Rivian has raised $10.5 billion, including $2.5 billion last week, from a range of strategic investors including Amazon and Ford. The company currently has a fleet of vans being tested by Amazon and expects to deliver its first vehicles to consumers by the end of the year.

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