Rivian In Preliminary Talks for $5B Facility
August 13, 2021—Amazon-backed EV startup Rivian is in preliminary discussions to bring a $5 billion manufacturing plant to Fort Worth, Texas, and several other locations.
The plan, currently known as Project Tera, would create at least 7,500 jobs with a minimum average salary of $56,000 by 2027 and produce around 200,000 cars per year, according to a report from Reuters.
The offer from Fort Worth is part of a larger bidding war across the country to land the factory in the race to become a leader in EV development. In a statement, Rivian said it was in discussions with multiple locations but did not hint at when a final decision would be made.
The Fort Worth offer, which would give the company around 2,000 acres west of the city, includes grants and tax abatements of up to $440 million.