Texas is not only one of the finalists, but the front-runner for the upcoming Rivian's $5 billion investment in the second electric vehicle plant in the U.S. according to unofficial reports.
After the company raised an additional $2.5 billion (for a total of $10.5 billion), we heard that the second EV plant and a 50 GWh battery cell plant could be built in Arizona. However, according to Bloomberg News and Automotive News the new site more likely will be located in Texas due to a better infrastructure.
The second battery plant potentially will be built near Fort Worth, Texas and here are some highlights from a presentation made by the City of Fort Worth’s Economic Development Department to the City Council (August 10):
- codenamed “Project Tera”
- manufacturing capacity of up to 200,000 vehicles annually
- at least 7,500 jobs by 2027
- investment of at least $5 billion, including at least $2 billion "in real property improvements" and $1.6 billion in hard construction costs.
- $440 million in incentives (including grants and county tax abatement)
- initial investment to be completed by the end of 2024
- potential location: 2,000-acre Walsh Ranch site, near Fort Worth, Texas
- minimum average annual salaries of $56,000
The final decision is expected later this year.
"Robert Sturns, the director of economic development for Fort Worth, said in an email that the city is “very excited to be a finalist for this project and looks forward to continuing the process.”
Sturns told members of the City Council during a presentation on Tuesday that several states were still under consideration by Rivian."
Let's not forget that the company might launch also a separate project in Europe, where the third production plant could be built.