Transportation
Rivian Secures $827 Million in Funding to Expand in Illinois
- EV maker to build out existing plant after pausing in Georgia
- Decision is a win for Illinois governor after Gotion project
The body of a Rivian R1T electric vehicle pickup truck on the assembly line at the company's manufacturing facility in Normal, Illinois.
Photographer: Jamie Kelter Davis/BloombergThis article is for subscribers only.
Rivian Automotive Inc. will receive incentives valued at $827 million from Illinois to expand its electric-vehicle plant in the state after the company halted work on a separate facility in Georgia.
The 30-year package consists primarily of tax benefits under the Reimagining Energy and Vehicles in Illinois program, according to a statement Thursday from the governor’s office. Rivian is set to receive $75 million in capital funding under a separate state initiative. The automaker also announced the state package in a separate release.