'US Electric Vehicle Maker Rivian, Contracted with Amazon, Considers New Factory in Texas'

Rivian's 'R1T' Pickup Truck, an American Electric Vehicle Startup [Photo by Reuters]

[Asia Economy Reporter Park Byung-hee] Rivian Automotive, a U.S. electric vehicle startup that gained attention by attracting investment from Amazon, is reportedly considering establishing a new factory in Fort Worth, Texas, according to Bloomberg News on the 11th (local time).

Rivian has planned a minimum investment of $5 billion and is scouting several candidate locations including Fort Worth. According to insiders, among the various candidates, Fort Worth has emerged as the most promising site.

The city of Fort Worth plans to offer subsidies and tax incentives worth up to $440 million to attract the investment. According to a report submitted by Fort Worth city authorities to the city council on the 10th, the city expects the factory to create at least 7,500 new jobs by 2027 once completed. The average annual salary for factory employees is estimated at a minimum of $56,000, with an expected annual production of 200,000 electric vehicles.

Rivian is an electric vehicle company that gained attention by securing a contract to supply 100,000 electric delivery vans to Amazon by 2030.

However, it has yet to produce and sell any electric vehicles. Rivian currently operates a factory in Normal, Illinois. Recently, it delayed the production schedule of its first electric vehicle amid supply chain disruptions.

Bloomberg explained that despite Rivian not having sold a single electric vehicle yet, Fort Worth city is actively pursuing the investment, demonstrating how the local community is keenly interested in the rapidly growing electric vehicle market for regional economic development.

It is known to have attracted over $10.5 billion in investment so far. Besides Amazon, Ford Motor Company and asset management firm T. Rowe Price have also invested in Rivian.

This content was produced with the assistance of AI translation services.