Rivian Automotive Inc., the electric truck startup valued at more than $100 billion, is planning to announce that it will build a vehicle-assembly and battery plant in Georgia, according to people familiar with the matter.
The company launched its first model in September, the plug-in R1T pickup. Rivian will roll out an electric SUV, the R1S, from its factory in Normal, Illinois, by year-end. It also has an order to produce 100,000 battery-powered delivery vans for Amazon.com Inc., the EV maker’s largest investor with a 20% stake
The startup, which went public Nov. 10, already has a higher market value than General Motors Co. even though it reported production of fewer than 400 vehicles as of Oct. 31 — “nearly all” of which were delivered to employees.
The Atlanta Journal earlier reported Rivian’s plans to build a factory in Georgia.