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.
the “truck” that screams “GAY”!
These cars were going to be made in GA with a new plant
Didn’t Rivian just get de-listed from the Nasdaq because their stock price was too low?
Why is the government still throwing money at them?
OUTRAGEOUS considering Illinois, last I checked, had the highest per-capita debt of any state.
Leave it to government idiots to step in and drop almost a $BILLION on an industry that has plateaued and is now shrinking as demand has fallen off a cliff.
...while it steals your money.
$14,780 per person to pay off the debt.
Illinois has the third-highest debt in the U.S., with total liabilities equaling $248.67. With total assets of $53.05 billion, Illinois has $187.7 billion in unfunded liability. This creates a debt ratio of 468.7%, the largest in the U.S. To pay that off, every person in Illinois's 12.7 million population would need to pay $14,780.
because it’s much easier to launder money when your stock is listed on the Pink Sheets
LOL...Illinois=SUCKERS!
No that’s a different EV company. Rivian makes standard size EVs and pickups on the same frame. Last year sold about 50,000 Vehicles. They have a lot of cash but are burning through it - 50,000 is not enough and they have a lot of start up costs. If they had Tesla technology they might sell better but I don’t see a merger in their future - maybe, maybe some licensing for full self drive technology.
They are not cheap trucks either. Quite pricey in fact.
Comes in 3 models: Gay, Pervert, & Deviate...
It really is the ugliest bunch of automobiles I’ve seen in 20 years.
And they are stupid expensive....AND...even with their sky high price, Rivian STILL loses $32k per vehicle.
PER VEHICLE.
https://www.motortrend.com/news/rivian-loss-per-vehicle/
That would Fisker Automotive.....and LordsTown automotive....two EV companies delisted in the last year.
If you have that kind of money to waste to be stylish, you have to much money. Going to be funny when those EV companies go TU and the customers have a big expensive brick.
Collision repairability seems to have not been a factor in the Rivian design.
https://finance.yahoo.com/news/rivian-r1t-owners-42-000-143950242.html
Why is the government still throwing money at them?
Because they can’ control the addiction for spending tax payers money. It isn’t theirs, so why should they care? Ignorant people vote for them anyway.
Not exactly.
They were dropped from the Nasdaq-100.
Money, ripped at the point of a gun, from hardworking people.
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