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Home»Investments»Pritzker announces major investment in Rivian
Investments

Pritzker announces major investment in Rivian

prosperplanetpulse.comBy prosperplanetpulse.comMay 3, 2024No Comments2 Mins Read0 Views
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NORMAL, Ill. (WMBD) – Gov. J.B. Pritzker (D-Ill.) on Thursday announced an $827 million investment to expand Rivian’s facility in Normal and build a state-of-the-art model.

The investment comes from the state’s REV Fund, the Department of Commerce and Economic Opportunity’s incentive program to enhance clean energy manufacturing in Illinois. The expansion is expected to cost $1.5 billion.


“I believe in Rivian’s future, and so does Illinois, and we’re making the investments to prove it,” Pritzker said.

Pritzker said the expansion will allow the Normal facility to become the sole producer of the latest model of electric vehicles, the R2, which is described as a midsize SUV. At least 550 jobs will also be created.

“This policy builds on Rivian’s long-term commitment to providing good-paying jobs and economic opportunity that is a win-win for Illinois taxpayers,” he said.

Pritzker said the partnership also brings significant investments in the workforce, including a separate manufacturing training academy and a dual-credit apprenticeship program for high school students.

“We’re not only creating the jobs of the future here, we’re giving Illinoisans the skills they need to build those jobs,” Pritzker said. “We have focused on industries of the future with significant growth potential, combined with investment in our people, to foster sustainable long-term economic success. Every dollar invested is a win for Illinois workers.”

Rivian CEO RJ Scaringe said the team at the Normal facility is second to none and it made sense to launch R2 exclusively from there.

“Ultimately, the product, the technology, the brand, the look and feel of the vehicle is only possible because of the team that makes it happen,” he said. “We couldn’t be more excited. We’re leaning into a community in which we’ve already made a significant investment.”

Rivian’s Normal facility has manufactured more than 100,000 electric vehicles since opening in 2021.



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