Rivian Shares Progress on Future Georgia Facility at Atlanta Space Grand Opening

Rhea-AI Summary

Rivian announces opening of new location at Ponce City Market and progress on Georgia manufacturing facility

Positive

• Rivian will build its next manufacturing facility with an annual capacity of 400,000 units
• The upper pad of the manufacturing facility site is 95% graded and ready for construction
• Rivian plans to hold a formal groundbreaking ceremony in early 2024

Negative

• None.

Site preparations nearly complete as Rivian prepares for construction of next-generation manufacturing plant

ATLANTA--(BUSINESS WIRE)-- American all-electric automaker Rivian (Nasdaq: RIVN) today announced the opening of its newest spaces location at Ponce City Market, using the occasion to showcase progress on its future Georgia manufacturing facility and upcoming milestones. The seventh public-focused Rivian space since June 2023, part of a nationwide rollout, visitors will have the opportunity to connect with the Rivian brand, get up-close with its electric adventure vehicles, and learn more about the company’s plans in the Peach State.

Rivian will build its next manufacturing facility—with an annual capacity of 400,000 units when fully complete—at the Stanton Springs North site about 40 minutes from Atlanta across Morgan and Walton Counties. For the past several months, the State of Georgia and Joint Development Authority of Jasper, Morgan, Newton & Walton Counties have worked with state and local partners to prepare the site for Rivian’s arrival. At this time, the upper pad is 95 percent graded and is nearly ready for construction to begin. Rivian expects to hold a formal groundbreaking ceremony in early 2024, with start of vertical construction to begin thereafter.

“We’re excited to welcome visitors to our latest Rivian space in Atlanta,” said Rivian CEO and Founder RJ Scaringe. “This one is particularly exciting as it is close to our future R2 manufacturing campus. This space will serve as a valuable hub to connect with the surrounding community.”

While the facility is under construction, Rivian’s space at Ponce City Market will serve as the company’s most public presence in the state, giving visitors a venue to learn more about Rivian vehicles, take demo drives, and purchase unique merchandise. Rivian builds its spaces to serve as hubs for community involvement, hosting imaginative and entertaining regular programming, such as gardening workshops or bicycle repair.

Rivian has opened an office in Covington, Georgia, a short drive from its future factory, and continues to grow its local presence with the addition of Tony Sanger, Vice President of Facilities-Georgia, as well as support functions designed to ensure a timely and innovative construction process.

Rivian will continue to share details on recruitment and partnership opportunities in Georgia. Visit Rivian.com for the latest updates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231020120471/en/

Investor Contact

ir@rivian.com

Media Contact

Peebles Squire

media@rivian.com

Source: Rivian

FAQ

What is Rivian announcing?

Rivian is announcing the opening of its new location at Ponce City Market and progress on its Georgia manufacturing facility.

What is the capacity of Rivian's next manufacturing facility?

Rivian's next manufacturing facility will have an annual capacity of 400,000 units.

Is construction on the manufacturing facility site ready to begin?

Yes, the upper pad of the manufacturing facility site is 95% graded and ready for construction.

When will Rivian hold a formal groundbreaking ceremony?

Rivian plans to hold a formal groundbreaking ceremony in early 2024.