Rivian, an electric automaker startup company, is making the move to purchase additional land as their factory expands in Normal, Illinois. The former Mitsubishi plant transformed into a Rivian factory will start producing R1T Truck and R1S SUV with a delivery date by end of 2021.
The electric automaker has gained significant edge over its competitors as it reap in benefits and investments from major companies such as Amazon. Producing electric vehicle is hard enough, but making a successful electric vehicle takes difficult to a whole new level.
With scarce capital funds, trust in the company, and few support from the outside, it is very easy for startups to fail fast. Rivian purchased more land near its factory in Normal, Illinois which the council voted in favor with 6 ‘yes’ and zero ‘nay’. The council also approved an additional 576,000 square to expand the Rivian factory.
Rivian plans to build two new buildings on its property that will cover approximately 50,000 square feet in along with its 60,000 square feet charging canopy. The electric automaker also purchase an additional 380 acres of land for its future expansion. However the farmlands will have to be rezoned for industrial use.
The electric automaker plans to wait to expand once R1T truck deliveries start in June 2021. According to council notes, Rivian is working on future plans for expansion beyond 2021.
As Rivian is gaining edge with its luxury electric vehicles R1T truck and R1S SUV, it is looking to be more promising than ever before. Tesla, one of the world’s biggest electric automaker, planned to expand its Shanghai Gigafactory plant but it halted due to strained U.S-China relations.
Tesla Berlin Gigafactory is also under construction and is slated to complete by June 2021 in time for the company to start producing Model Y. Tesla share price dropped to $589 yesterday and recovered to $608 today. Elon Musk took to the Twitter and asked his followers if they wanted to buy Tesla cars with Dogecoin.