Report: Rivian Looking For New Factory In Europe
Rivian is reportedly in talks to build a factory in England, Holland, or Germany.
The U.K. media outlet Sky News first reported on a potential plant near Bristol in southern England and that the British government could contribute more than $1.4 billion to the project. U.K. policy is to promote EV production and adoption with incentives.
Rivian has plans to ship its EV trucks and SUVs to Europe before such a plant could come on line. For the present, the company has said it plans to export some of the electric vehicles made in Normal to the U.K. Auto trade publications noted British and European Union customers generally prefer smaller models than the U.S. market produces, but also say Rivian has rights to other model names that could be used for such smaller vehicles.
Sky News reports the British plant would likely be used for auto assembly and not for batteries, though talks are in the early stages.
The company has declined to comment on the report. Rivian also is looking for a location for a second U.S. plant to supplement production in Normal.
Meanwhile, workers at the plant in Normal are ramping up for initial truck production next month after a couple delays caused by supply chain issues. Electric delivery vans for Amazon are in production.
Rivian has raised more than $10 billion from investors including Amazon, Ford, and a Saudi conglomerate, among others. It also reportedly plans to begin public trading of stock later this year.