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Rivian confirms plan for second U.S. assembly plant (with battery plant included)

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Ford has a stake in Rivian, so didn't think this belonged in competition:

Rivian Automotive plans to build a second U.S. assembly plant that will also include battery cell production, four people familiar with the matter told Reuters.
"While it's early in an evolving process, Rivian is exploring locations for a second U.S. manufacturing facility," Rivian spokeswoman Amy Mast said on Thursday. She declined to provide further details.
Multiple U.S. states have bid for the plant -- dubbed "Project Tera" in documents -- which will be announced in a couple of months and break ground early next year, said the sources, who asked not to be identified.
A second U.S. plant will expand the company's capacity and include a 50 gigawatt-hour (GWh) battery cell production operation built in phases, as well as a product and technology center, according to documents seen by Reuters that were submitted to state economic development officials.
The proposal listed spring 2021 as the period in which states would be notified of the company's decision, with "mobilization" likely in the summer, and then the start of construction in the fall. However, the pandemic has delayed that timeline, the sources said.
The project requires an estimated 2,000 acres of land and the site would seek to achieve net-zero carbon emissions as soon as possible, according to the proposal.

 

Full article: https://www.autonews.com/manufacturing/amazon-backed-rivian-confirms-plan-second-us-assembly-plant

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Rivian is both a partner and competitor to Ford.

 

I hope Texas has the winning bid for Rivian's 2nd plant. 🤠

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It will be interesting to see if Ford holds on to its Rivian investment or sell after the IPO. Ford's investment in Rivian is in theory worth more than Ford itself at the kind of valuation that people are guessing for Rivian.

 

So either Ford stock has to go WAY up to reflect its investment in Rivian or it Rivian is going to crash after IPO. I'm guessing Farley will hold the stock and watch Wall St try to justify the valuation difference between the two companies.

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I note that Ford took part in the latest $2.5 billion funding round (which made the commitment to a second production facility possible). It was led by Ford, Amazon and the T.Rowe Price investment group.

https://www.reuters.com/business/autos-transportation/ev-startup-rivian-announces-25-bln-funding-round-led-by-amazon-ford-2021-07-23/

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16 hours ago, Gurgeh said:

I note that Ford took part in the latest $2.5 billion funding round (which made the commitment to a second production facility possible). It was led by Ford, Amazon and the T.Rowe Price investment group.

https://www.reuters.com/business/autos-transportation/ev-startup-rivian-announces-25-bln-funding-round-led-by-amazon-ford-2021-07-23/

 

I was about to post that. 

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On 7/25/2021 at 2:44 PM, Gurgeh said:

I note that Ford took part in the latest $2.5 billion funding round (which made the commitment to a second production facility possible). It was led by Ford, Amazon and the T.Rowe Price investment group.

https://www.reuters.com/business/autos-transportation/ev-startup-rivian-announces-25-bln-funding-round-led-by-amazon-ford-2021-07-23/

 

You have to wonder what % Ford's ownership of Rivian is up to now. We never were given the % before this, so maybe 10%-20%?

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On 7/23/2021 at 2:50 PM, rperez817 said:

Rivian is both a partner and competitor to Ford.

 

I hope Texas has the winning bid for Rivian's 2nd plant. 🤠

 

Oh, I'm sure Rivian like other auto companies will get many states to bid against one another with big time tax breaks for many years. Also the winning state will get hit with a big infrastructure bill. I believe Rivian headquarters is located in Plymouth, MI, my previous hometown. Lots of land in Plymouth Township/Northville Township. 

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4 hours ago, FordBuyer said:

 

Oh, I'm sure Rivian like other auto companies will get many states to bid against one another with big time tax breaks for many years. Also the winning state will get hit with a big infrastructure bill. I believe Rivian headquarters is located in Plymouth, MI, my previous hometown. Lots of land in Plymouth Township/Northville Township. 

This article states that Arizona is the frontrunner for the plant.  If it were to go to Michigan, chances are it would be more toward the middle of the state.

 

Rivian is ready to invest $5 billion in second U.S. assembly plant, document shows (cnbc.com)

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Posted (edited)

One has to wonder how many of these startups the market can support, especially with the legacy automakers getting in the fray.

 

Regarding the plant location, since Ford is supporting Rivian, it is too bad they cannot offer one of their idle or soon to be idled plants in Romeo or Milan for use in this endeavor. 

Edited by Footballfan

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5 hours ago, Footballfan said:

One has to wonder how many of these startups the market can support, especially with the legacy automakers getting in the fray.

 

Regarding the plant location, since Ford is supporting Rivian, it is too bad they cannot offer one of their idle or soon to be idled plants in Romeo or Milan for use in this endeavor. 

 

I agree - I think we're probably at the saturation point already, as you're seeing some of the startups like Lordstown and Faraday already floundering.  Obviously Tesla isn't going anywhere, and it seems like Rivian has strength to it even though it technically hasn't produced anything yet, because of its Amazon/Ford/etc backing.  Lucid also seems to have some teeth to it, but I'm more cautious there.  That Bollinger company I see being a non-factor in the general market, and appealing more to some more rural buyers with how it's built.  Seems very similar to the H1 in market targeting.

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I love what Rivian is doing with the modular components. They’re going to really appeal to a lot of weekend outdoor enthusiasts. The camp kitchen module was brilliantly done. 

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5 hours ago, Footballfan said:

One has to wonder how many of these startups the market can support, especially with the legacy automakers getting in the fray.

 

Regarding the plant location, since Ford is supporting Rivian, it is too bad they cannot offer one of their idle or soon to be idled plants in Romeo or Milan for use in this endeavor. 

 

The auto supply base is located in SE Michigan along with a good rail system for transportation. And unlike AZ, plenty of water and no uninhabitable temps and wildfires. And plenty of auto tech resources that a BEV maker needs. Phoenix as a city is not sustainable in these times. Long term water rationing is coming sooner rather than later. 

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Agreed, I believe companies are going to have start thinking about water resources in the era of climate change when siting a new facility. On the plus side you install a lot of solar panels on the roof in the hot Arizona sun.

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16 hours ago, pictor said:

Agreed, I believe companies are going to have start thinking about water resources in the era of climate change when siting a new facility. On the plus side you install a lot of solar panels on the roof in the hot Arizona sun.

 

Also most of the population lives East of the Mississippi River. Transportation costs are a factor also when shipping vehicles. The Americsn West is becoming less desirable as population growth exceeds its resources...most notably water. We almost retired in Sedona, but worry over water resources nixed that decision. Some towns in CA are already dependent upon water delivery trucks to meet their daily needs. 

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On 7/28/2021 at 12:00 AM, FordBuyer said:

I believe Rivian headquarters is located in Plymouth, MI, my previous hometown.

 

Yes sir FordBuyer, Rivian Corporate HQ remains in Plymouth.

 

Current Rivian facilities.

  • Plymouth, Michigan. HQ; vehicle development, prototyping, and testing.
  • Irvine, California. Vehicle engineering and design.
  • Palo Alto, California. Vehicle electronics and software development.
  • Carson, California. Electric motor, inverter, and charging product development.
  • Wittman, Arizona. Vehicle testing.
  • Normal, Illinois. First vehicle assembly plant.
  • Vancouver, BC, Canada. Vehicle and fleet management software development.
  • Woking, Surrey, U.K. Advanced concepts, vehicle body, and lighting R&D.

 

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7 minutes ago, rperez817 said:

News reports today suggest that Fort Worth is a front runner for Rivian's 2nd vehicle assembly & battery plant!:happyfeet:

 

Rivian considers $5 billion EV plant in Texas, document shows | Reuters

I would suggest they get their first  one up and running before they jump the gun and expand....seen too much  of this...presumptive expansion and POOF! receivership.....

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