Rivian Reports Plans to Spend $5 Billion for a Second U.S. Assembly Plant – MotorBiscuit

The electric vehicle market has long been dominated by Tesla, but there is a new player in town. Rivian, led by the anti-Elon Musk, Robert Scaringe, has already shown that the company is a worthy competitor to Tesla. In addition to the company’s upcoming vehicles, Rivian recently partnered with The Nature Conservatory to create the Rivian Forever Fund to protect and preserve our environment. So, besides wanting to protect our environment, what else is Rivian up to?

Rivian’s company goals

Rivian lettering | David Becker/Getty Images

Rivian was founded in 2009 by Scaringe, who is also the company’s CEO, and in 2011 began focusing specifically on autonomous EVs. One of the company’s most prominent investors is Amazon, and in 2019, the online shopping giant ordered 100,000 all-electric delivery vans. More recently, in August 2021, Rivian filed for an IPO with a valuation of around $80 billion.

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