Posted on 05/02/2024 11:49:42 AM PDT by janetjanet998
NORMAL, Ill.--(BUSINESS WIRE)--Rivian Automotive, Inc. (NASDAQ: RIVN) announced today it has received an $827M incentive package from the State of Illinois Department of Commerce & Economic Opportunity, which will allow the company to expand operations at its plant in Normal, IL. The funds from the incentive package will go towards expansion of the plant, improvements in public infrastructure and job training programs for Rivian’s workforce, leading up to the company’s production of its midsized SUV, R2. Rivian will be participating in several city improvement projects to demonstrate its ongoing commitment to investing in the Illinois economy and community.
Pouring money down the toilet before the turn belly up .... seen it before.
Ouch. That seems to be a common story with EVs. They have all kinds of sensors and cameras and wires. It’s not like A regular car where you just put a new bumper on. Some of these new ones have unibody designs, so you can’t even replace a quarter panel and with all the sensors and wires you can’t just bang dents out either. I don’t know the specifics on that car or that accident but I have heard stories of Teslas just getting totaled by the insurance company. Cheaper to replace than repair.
Another function of the cost may also be lack of parts. Tesla parts are all Tesla parts. Maybe true of Rivian. They don’t have aftermarket supplies or parts made by 3rd party vendors so you gotta buy them directly. And, as the story said, only 3 certified techs who, while certified, may not actually have a lot of real world experience. It’s a new car company with not a lot of cars on the road so even if certified they maybe never did the job before. So there is no competitive pricing and the work may take longer.
POS Rivian pickups are, at best, a Tacoma. And I’d love to an owner pick up 10-12, 80lb bags, of concrete.
I haven’t seen many of the POS pickups but none of the guys driving can tell the difference between a shovel and a screwdriver.
POS SUVs, at best, comparable to Kia Telluride.
Someone has the SUV. Waited 2 years to get one for $70k, which is over $100k
Had to stop twice on a trip from Sarasota to just north of Atlanta.
I think the company is on its 3rd of layoffs
The corrupt POS Governor in Georgia, with the help of the even corrupt joint development authority, gave them $1.5billion. Company just stopped construction on the 2000 acres they bought because they have to save money.
I’m thinking that all the people that can afford to throw $100k down the toilet, since there’s absolutely no resale in any EV, have pretty much reached its limit.
In this case I think it is basic body design, and use of aluminum. And not necessarily because it is electric.
Repair costs are wildly escalating for many reasons. One is the number of expensive electronic gadgets which get damaged in even the most minor hit.
EVs are expensive vehicles and tech products, much more than commodity appliance economy commuter vehicles. So the EVs have more tech gadgets to be damaged in a crash.
that was an interesting story, thanks
No that was Fisker. Riven is doing fine around $10 a share
It was dropped from the NASDAQ-100 but it has not been de-listed as in pink sheets.
Pretty big influx of cash for a company that’s going out of business.
Solyndra?
Libtards have to prop up the battery pushers with taxpayer funds just like a stadium nobody wants
"Illinois had the 5th worst unemployment rate out of any other state in March at 4.8%, along with one of the nation’s highest tax burdens, and has only added 26,100 net jobs in the last year while adding 30,100 government positions, according to data from the Illinois Department of Employment Security. At the same time, residents are fleeing Illinois in droves as the state grapples with some of the largest pension debt in the country." --
https://thelibertydaily.com/forget-about-commiefornia-there-might-be-new-contender/
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