Posted on 03/08/2024 1:44:37 AM PST by CFW
MORGAN COUNTY, Ga. — Plans for electric vehicle company Rivian to build a $5 billion plant in Georgia have hit a bump in the road.
Founder and CEO R.J. Scaringe announced on Thursday two new vehicles, the R2 and R3.
The R2 was initially planned to be built at the Georgia plant, but production will now be focused at its existing facility in Normal, Illinois, according to a news release.
[snip]
They say the timing for resuming construction on the Georgia facility is “expected to be later.”
The company says launching production in Illinois will save them an estimated $2.25 billion.
Production of the R2 is slated to begin in 2026.
(Excerpt) Read more at wsbtv.com ...
Kemp keeps bringing companies to the state to build in small rural communities that do not want the businesses there. "Growth" is not always good for an area.
Residents of Walton and Morgan County sued to try to stop the construction of his plant but were ruled against by the Court's at every turn. Maybe they will end up winning anyway.
I just do not see Rivian as anything anybody would want.
Yes, I have seen one somewhere, but this is not a vehicle which will have any success.
Maybe the future ain’t so bright for EVs...
If I owned stock in any of these companies, I would be getting rid of it.
Large AI data centers.
Some of these big data centers consume as much power as medium-sized cities.
AI use is exploding...data centers are being built as fast as possible around the world to stay apace with this growth.
St. Greta of Thunberg, Al Gore, and John Kerry are going to have aneurisms when they recognize what is about to happen.
As an aside, I think there will be an explosion of nuclear power plants around the world.
Rivian R3 at link. If the company is still around in 2026 it supposedly will go on sale. I’m sure millions will run out and buy an electric “Gremlin”
https://electrek.co/2024/03/07/rivian-flexes-its-power-with-the-tri-motor-r3x-electric-crossover/
There has to be. But perhaps "explosion" isn't the best word in this context!
Rivian only produced ~57K cars last year at their Normal Illinois plant. Mitsubishi cranked out ~300K cars a year during their peak production years at the facility..
LOL, you are correct.
Wow! You weren’t kidding!
Huge Gremlin echoes there, SMDH.
“The company says launching production in Illinois will save them an estimated $2.25 billion”
How does increasing vehicle production in IL of all places allow Rivian to increase profits? Got to be ugly noise from the unions, the subsidies aren’t going to be there under Trump so much, and decreasing sales of all EVs’ to name a few.
Makes sense. Build out your EV company in a state where your EVs can’t even run in the dead of winter. Yeah, that’s the ticket.
Georgia Governor Brian Kemp is saddened, eh. He’ll probably turn to China’s CCP EV company BYD to fill the void, as he has a soft spot for the communist party. Besides, he needs them to help with the election this year.
March 8th, exactly one week after Governor Kemp’s officially recognized Rivian Day in Georgia. Could he have been any more self-serving? Remember folks, “Georgia is fast becoming the EV capital of the nation.” Brian Kemp said so.
Rivian Automotive improved its net earnings loss from $1.72 billion, or $1.87 per share, in Q4 2022 to $1.52 billion, or $1.58 per share, in 2023's fourth quarter. The bad news is that analysts had expected Rivian to only lose $1.35 per share in Q4 2023.
Also, Barron's article regarding Rivian from just a couple weeks ago.
Rivian Stock Gets a Rare Double Downgrade. EV Demand Is a Problem.
Wow, whoda thunk NOBODY wants to spend upwards of 80K on a mini Hindenburg that could destroy your house.
Rivian only paid $16M for the vacant 2M square foot manufacturing facility and is located near 3 interstates...
If their big investors pull out, they are done..
The building in Illinois is already there. The one in Georgia hasn’t been built yet.
Dead link
“Maybe the future ain’t so bright for EVs...”
A couple weeks ago, someone here posted that EVs are this century’s Edsel.
That is one ugly car, no one will want one.
It looks like an old soviet automobile.
“AI use is exploding...data centers are being built as fast as possible around the world to stay apace with this growth.”
What, specifically, is AI? Perhaps examples are the only way to describe it.
Why does AI specifically increase demand for data centers?
My opinion until someone changes it is that AI is just the normal progression of computer hardware and software.
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