Elon Musk Fires At Rival Rivian
  • 3 years ago
Tesla ($TSLA@US) CEO Elon Musk has a piece of advice for Amazon ($AMZN@US), and Ford Motor Company ($F@US) -backed electric vehicle maker Rivian: learn from your mistakes before rushing to build a second plant. Rivian is reportedly investing at least $5 billion to build a second electric vehicle factory near Fort Worth, Texas. The manufacturing plant, codenamed “Project Terra,” will have an annual capacity of 200,000 electric vehicles and is expected to create at least 7,500 jobs by 2027. Rivian’s recent fundraise and expansion plans come just months after the electric vehicle maker delayed the start of production of its R1T electric pickups at its existing manufacturing facility. The California-based startup is valued at $27.6 billion and reportedly plans to get a U.S. listing in September.
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