Posted on 05/05/2022 5:34:09 AM PDT by Red Badger
Rivian Automotive, the electric vehicle (EV) company that beat the legacy automakers to market with the 2022 R1T electric pickup, just received $1.5 billion in incentives to build a new plant in Georgia. The package will include job training support, tax credits and subsidies, according to a statement by the Georgia Department of Economic Development.
Rivian will get $467 million in tax credits if it creates 7,500 jobs by 2028, as the automaker promised. But Pat Wilson, Georgia's commissioner noted that if Rivian doesn't produce that many jobs there are protections for the taxpayer. Almost $300 million will go into site preparation and job training. The final $700 million will come from the four counties hosting the plant, according to Bloomberg.
"In partnership with the Joint Development Authority (JDA) of Jasper County, Morgan County, Newton County, and Walton County, announced that the Economic Development Agreement has been signed by the JDA, the State of Georgia, and Rivian to move forward on the company's $5 billion Georgia project, which will create 7,500 jobs at Stanton Springs North," said the Georgia Department of Economic Development (GDEcD) in a statement.
"Rivian also released an updated site rendering and site plan for their carbon-conscious campus off I20, east of Atlanta. The JDA approved the agreement at a meeting on April 26," the statement said.
(Excerpt) Read more at newsweek.com ...
Been on a New Dealer Lot lately?
Diesels and gasoline models aren’t far behind...............
But the $40K version of the F-150 Lightning has my attention ($45K after towing package, tax, etc.). Forget the $7,500 EV tax credit. So many people have pre-ordered Ford EV's like the Lightning and the Mustang Mach-e that by the time you and I would get one Ford will have sold over 200,000 of them (thus nullifying the tax credit for future EV sells). An EV truck is practical for me.
I’m ok with “cow”.
This is prolly an actual question in high school these days.
Also not sure of that stat but I know of another -
The amount of energy it takes to fabricate, install, and connect a wind turbine is equal to the turbines 10 year output (under ideal conditions).
We went looking for a plain pickup truck, not a 4WD, and couldn’t find one.
Every truck on every dealer’s lot was MAXXED OUT with every accessory you can imagine, leather interior, power everything and tires that belong on aircraft.....................
But the cost of gas going up and my solar system has me calculating car payments for a new EV will be worth it. One part of that is my used cars have to be replaced on average every 7 years for $10K. And from the looks of it, getting a decent used car now costs more than that (especially if it's a pickup, even a plain one like I've driven for years).
So $45K for a pickup with the limited use I need a pickup for (I can count on one hand the times I've towed a trailer over a hundred miles) when I can get my miles practically free sounds like a good deal to me.
The dealers told us that even if you ‘order one’ from the factory it might be 6 months or more and maybe never..................
The superior intellects of the green movement will not answer the question of environmentally safe battery disposal in the millions which will be plaguing the world very soon.
And now we hear George Soros is a major stock holder. There will be a price to pay.
The problem with electric vehicles in more general terms is that our power grid is already being stressed by government mandates forcing utilities to switch to unreliable and intermittent “renewable energy”. We all saw what happened to Texas during 2021. When the weather changed to conditions that were not good for solar and wind their entire grid went down for over two weeks. People better get used to the idea of living without power for extended periods of time during the middle of the winter when you need it the most.
The limited lifespan of the batteries and their expense means the value of the vehicle is reduced to almost nothing by the time they are paid off or just ready to be traded in. Will you really be able to afford a new incredibly electric pickup when your old incredibly expensive pickup has basically no trade-in value after just a few years?
The transition to electric vehicles does not pencil out and the government knows it. The real goal is to reverse the current trend of people moving out of big cities and into rural areas. Government planners want most people to live in apartments in cities and relying on mass transit. They know that electric vehicles are not a good solution in the long run without huge societal changed.
Unfortunately, that is called a pipe dream. Riven pickups supposedly will start at $67,500 in a few years when they release a 2 wheel drive model. If you don't want to make a deposit and wait 6 months to a year, “preowned” Rivians are currently selling in the $150,000 range. These are play things for the rich and connected not you and I.
https://insideevs.com/news/577346/used-rivian-r1t-launch-edition-139k/
A few years back, I visited the Permian basin and roamed around the active fields. The place was buzzing with white pick ups most of which were carrying only one man. The loads if present were small.
That is to say, all pickups and probably most job site tasked pickps don’t travel far and are mostly carrying light or no loads.
Electric trucks can definitely fill the jobsite niche. As production ramps up, the cost will decrease. Tesla will be the prime disrupter
There is a big difference between one of these...
And one of these...
Electric job site trucks have been produced for decades and the prices have been going up not down even with increased production. Sadly, the price of the batteries which are the largest expense in producing either have not been going down with increased scale of production... they have been going up and up and up.
Wish in one hand and poop in the other and see which one gets filled the quickest.
Wow. Thank you for posting.
That’s an interesting statistic. Is there a ready reference to that?
And how about the cost benefit ratio of these wind mills?
It reads as if, "hey, this massive investment is only to be expected since Rivian is such an awesome company".
Oh really?
Well how come Rivian's stock has dropped from $180 to $30 a share in six months? How come Amazon's and Ford's stock price have just taken a big hit related to their Rivian investments?
You'd think with this vote of confidence by a crooked Georgia government that Rivian's stock would climb.
But it hasn't.
I have a suggestion for Rivian. Change your name. That way, maybe you can RIVIVE interest in your company's stock.
In fact, I've got the perfect name, Kempmobile! Like Oldsmobile -- kind of catchy I think. Plus the connotations are perfect because Kemp is as crooked as Rivian.
I understand your point and you may be right.
Many pickups are used commercially on construction job sites and in Texas in the oil fields to just get around and haul light loads. I don’t mean the Mules or heavy duty golf carts, I mean pickups in the conventional sense. Electrics will have a place.
You think of the past or the present whereas I am looking at the future. There is going to be disruption as prices come down and ownership costs are actually considered.
Looks like Georgia has a lot of taxpayers who want to pay for this.
Boondoggle
I was talking about the $40K Ford F-150 Lightning ($45K-ish after a towing package, taxes, etc.). Of course, that’s for the plain truck version like the old used trucks I’ve driven for decades, not the luxury versions.
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