Rivian eyeing up European production site?
Amazon.com-backed electric vehicle manufacturer Rivian Automotive Inc., is looking at numerous potential locations in Europe for a factory, with Germany, the United Kingdom and Hungary among the options according to a close source.
It is understood that the proposed plant would be the site producing electric-powered delivery vans for Amazon with a view to eventually build Rivian models for consumers and the carmaker hopes to start van production as soon as next year, some of the people said. It also has solicited pitches from real-estate advisers for retail space in Europe where it will exhibit its vehicles.
Based in Irvine, California and founded in 2009, Rivian has emerged as a potential automotive disruptor along the lines of Tesla Inc. and the company will be hoping to follow in the wheel tracks of the world’s largest maker of purely battery-powered vehicles.
With more than 3,600 employees across sites in Michigan, California and the plant in Illinois, which was formerly owned by Mitsubishi Motors, Rivian is due to start production of a pickup model in June 2021 with an SUV slated for release in August. On top of this, the company has an order for 100,000 electric delivery vans from Amazon, and Bloomberg News recently reported that Rivian is looking to go public later this year, potentially at a valuation of more than $50 billion.