By Sam Boughedda
Investing.com — Rivian Automotive Inc (NASDAQ:RIVN) will build a $5 billion electric truck plant east of Atlanta, the Associated Press reported Wednesday.
Citing sources briefed on the decision, the report says the battery and assembly plant is expected to employ 7,500 workers and up to as many as 10,000 workers. This would make it one of the largest auto manufacturing facilities in the U.S.
Electric vehicle startup Rivian is based in Irvine, California, and currently has one plant in Illinois. In July, news came out about the company's plans to invest $5 billion in a second plant.
Earlier this week it was reported that Rivian had passed on the opportunity to build the plant in the city of Fort Worth, Texas, despite the City Council endorsing a $440 million incentive package in August in an attempt to attract Rivian to a 2,000-acre property.
The official announcement is expected Thursday. Rivian shares closed Wednesday's session down 1.83%.