Rivian secures massive Georgia land deal for new EV plant and R2 electric vehicles
Up-and-coming EV maker Rivian closed on a monumental land agreement last week for 1,800 acres to host its new mega site in Georgia. Construction can now begin on Rivian’s $5 billion facility, where its next-gen R2 electric vehicles will be made.
The Joint Development Authority (JDA) of Jasper, Morgan, Newton, and Walton Counties approved several resolutions last week to finalize the lease agreement and bonds to prepare for construction.
According to The Atlanta Journal-Constitution (AJC), Rivian will rent the site for 50 years to establish a 16 million-square-foot EV plant in Georgia.
The American manufacturer will establish 7,500 “good-paying jobs” in the region, the JDA and Georgia Department of Economic Development said in a joint statement.
Despite the $5 billion investment, not everyone was thrilled with the decision. Rivian first revealed plans for its massive $5 billion facility in Georgia in December 2021. Construction was initially stated to begin last summer, with production starting by 2024.
The plant was delayed due to legal battles over its $1.5 billion incentive package, a key piece of the agreement that includes tax breaks, grants, free land, and infrastructure.
Rivian’s incentive package is the second largest in the state, behind Hyundai’s $1.8 billion. Hyundai began construction on its $5.5 billion, 3,000-acre EV assembly and battery plant in Bryan County, Georgia, last October. The company said 99.99% of the foundation work was completed last month.
Rivian closes on massive land deal for Georgia EV plant
Bonds central to the Rivian facility were issued last week following the closing. Due to the legal battles, several adjustments were made to the agreement. For one, the JDA slightly lowered the number of acres it will lease from 2,000 to about 1,744 to build a frontage road and state training facility.
Rivian is expected to begin construction soon, with grading work progressing through the end of the year. According to company spokespeople, a groundbreaking ceremony will occur in early 2024.
According to the report, the site will employ 7,500 workers with an average salary of $56,000. The plant will begin producing Rivian’s smaller, cheaper R2 electric vehicles in 2026.
After crushing third-quarter earnings estimates, Rivian raised its production goal for the year to 54,000. Rivian delivered 15,564 vehicles between July and September, up 24% compared to last quarter.
The EV maker also produced 16,304 EVs at its Normal, Illinois factory in Q3, a 17% increase over Q2.
Once complete, Rivian’s Georgia plant is expected to be able to produce 400,000 EVs a year, compared to its Illinois facility, which is capped at 150,000.
Rivian announced it had hired Arnhelm Mittelbach as its first plant manager in Georgia earlier this month. Mittelbach joins Rivian from Mercedes with experience as the plant manager in East London and South Africa. He was also the president and CEO of Mercedes-Benz Vans in Charleston, SC.
Electrek’s Take
Despite the recent growth, Rivian issued a $1.75 billion green convertible note in October to create an additional cash buffer. CEO RJ Scaringe explained the move “further strengthens” its balance sheet as it approaches the beginning of construction in Georgia.
Scaringe added, “We’re well positioned as we look to start production of the R2 platform in 2026.”
The R2 “captures the essence of our brand,” but in “a smaller package and at a much lower price point,” according to Rivian’s CEO. Prices are expected to start at around $40K-$45K, compared to over $70K for the R1T and R1S.
Rivian is expected to reveal its first R2 model next year as it aims to expand the brand into new markets.
The EV startup continues exceeding expectations, outpacing rivals with its unique all-electric adventure vehicles. Rivian’s Normal, IL plant is now charging every new EV with 100% clean energy from solar and wind. It will be interesting to see what Rivian will do in Georgia.
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A dozen Tesla vehicles burned at a store in Toulouse, France. Arson is suspected amid global protests and vandalism attacks against Tesla and Elon Musk.
Last night, a dozen Tesla vehicles burned down at Tesla’s retail and service location in Plaisance-du-Touch near Toulouse, France.
Firefighters arrived on the scene at around 4 a.m. and contained the fire to the vehicles. Eight of them were completely destroyed, and four were greatly damaged. The damages are estimated at over 700,000 euros.
According to the local news (translated from French), the police suspected arson as a hole was found in a fence, and threats had been made over the last few weeks. The Tesla location remained closed all day.
Tesla is currently being protested by anti-fascist groups around the world, especially in the US, where many are targeting Tesla to protest against Elon Musk’s involvement in the US government.
In France, there were a few protests planned, but some extremist groups are calling for widespread arson against Tesla stores:
I won’t share the link to the article since it gives step-by-step instructions on how to burn down Tesla stores without getting caught, but the manifesto explains that they are going after Tesla as a “symbol of capitalism,” although they also list a dozen other reasons including the fact that they think it’s “doable and cheap.”
Electrek’s Take
This is getting nuts. It’s not only dangerous, but it’s also not super effective in achieving the goal they claim to want to achieve.
Have they never heard of insurance? Tesla is having issues selling cars right now. You are burning unsold inventory that they can then claim to their insurance.
Sure, it disrupts their operations for a short period of time, but it’s not worth it.
Their manifesto does say to avoid violence and not to target vehicles owned by individuals – though it doesn’t sound like a strict rule for them, but I think these people are likely going to end up in jail for having achieved nothing.
The protests and boycotts are going strong. You don’t need to burn cars to make yourself heard.
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Environment
Ford F-150 Lightning sales have been falling for months: What’s going on with the EV pickup?
Is Ford’s electric pickup in trouble? Sales have been down for months, and February showed no relief. What’s going on with the Ford F-150 Lightning?
Ford F-150 Lightning sales drop again in February 2025
Ford’s US sales dropped by 9% last month. Although electrified vehicles, including EVs and hybrids, both notched double-digit growth, sales of Ford’s gas-powered (ICE) models, which accounted for over 85% of deliveries, fell nearly 13%.
Hybrids saw higher demand with sales up 27.5% to 15,357, while EV sales increased 15% to 7,326. The Mustang Mach-E was a bright spot with 3,312 models sold in February, up 13% from the prior year.
With 6,841 Mach-Es sold through the first three months of 2025, Ford’s electric crossover SUV remains a top-selling EV in the US.
Ford’s electric pickup didn’t fare as well. F-150 Lightning Sales were down nearly 15% last month with only 2,199 units sold. Through March, Ford has sold 15% fewer Lightning models than it did at this time last year.
Sales of the electric pickup have been slipping for months now. In the final three months of 2024, F-150 Lightning sales were down 10%.
The Lightning, alongside Rivian’s R1T, are no longer the only electric pickups on the market. Ford is facing new competition with the Tesla Cybertruck, Chevy Silverado EV, and GMC Sierra EV, arriving.
According to Cox Automotive, the Tesla Cybertruck slipped past the Lightning to become the fifth best-selling EV in the US last year with nearly 39,000 units sold. Ford’s Lightning was sixth with just over 33,500 models sold.
Ford extended its “Power Promise” promo earlier this year to boost demand, giving EV buyers a Level 2 home charger and other benefits, but Lightning sales are still down.
The American automaker cut Lightning production at its Rouge Electric Vehicle Center last year, citing slower-than-expected demand. A new report from Automotive News claims Ford is now ending a pilot program to stock and distribute EVs through regional hubs after it failed to catch on. It was designed to speed up deliveries.
Although Ford plans to launch a smaller midsize electric pickup, it won’t arrive until at least two more years. With new competition, like the Ram 1500 REV and Volkswagen Scout pickup, hitting the market over the next few years, Ford may find it even harder to attract buyers.
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Costco’s Auto Program recently introduced some new member-only incentives, and the 2025 Volvo EX90 BEV is now on its list.
Volvo is offering Costco Executive Members $2,000 off the 2025 EX90. Costco Gold Star and Business members are eligible for $1,500 off. The incentives are available on all versions of the Volvo EX90 for members who purchase or lease from February 24 to April 30, 2025. It’s the only non-GM EV that’s that’s eligible for an incentive through the EV program.
The offer is compatible with A-Plan pricing for employees, as well as Affinity Pricing for teachers and first responders. Costco members will have had to have been members as of February 23 and be the primary members on the Costco account to qualify.
However, CarsDirect gave the heads up on how buyers can get up to $10,000 off the EX90’s MSRP. As we stated, if you’re a Costco Executive Member, that’s $2,000 off. Then, add the $7,500 EV Lease Allowance and a $500 loyalty discount on leases if you currently own or lease a Volvo or have owned or leased a Volvo within the past six months.
With the destination fee included, the base EX90 MSRP starts at $81,290, so that brings it down to $71,290, a more than 12% discount, a pretty good deal.
The 2025 AWD Volvo EX90, which can seat seven passengers comfortably, has a range of up to 310 miles and is NACS-compatible. It has a 510 hp engine, 110 kWh battery capacity, and can go from 0-60 mph in 4.7 seconds.
Read more: Review: Volvo EX90 is a smooth AWD 7-seat luxury kid-hauler
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