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Wednesday, 11 August 2021 21:07

Report: Texas is Front-Runner for Rivian's $5 Billion Plant

Written by Mark Kane, Inside EVs

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Texas is not only one of the finalists, but the front-runner for Rivian's upcoming $5 billion investment in its second electric vehicle plant in the U.S., according to unofficial reports.

After the company raised an additional $2.5 billion---for a total of $10.5 billion---we heard the second EV plant and a 50 GWh battery cell plant could be built in Arizona. However, according to Bloomberg News and Automotive News, the new site more likely will be located in Texas, due to a better infrastructure.

 

The second battery plant potentially will be built near Fort Worth, and here are some highlights from a presentation made by the City of Fort Worth’s Economic Development Department to the City Council on Aug. 10:

 

  • Codenamed “Project Tera”
  • Manufacturing capacity of up to 200,000 vehicles annually
  • At least 7,500 jobs by 2027
  • Investment of at least $5 billion, including at least $2 billion in real property improvements and $1.6 billion in hard construction costs
  • $440 million in incentives (including grants and county tax abatement)
  • Initial investment to be completed by the end of 2024
  • Potential location: 2,000-acre Walsh Ranch site, near Fort Worth
  • Minimum average annual salaries of $56,000

 

The final decision is expected later this year.

 

Robert Sturns, the director of economic development for Fort Worth, said in an email the city is "very excited to be a finalist for this project and looks forward to continuing the process.”

 

Sturns told the council during a presentation Aug. 10 that several states were still under consideration by Rivian.

 

Let's not forget the company might launch also a separate project in Europe, where the third production plant could be built.

 

We thank Inside EVs for reprint permission.

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