Rivian Automotive is halting plans to build a new multibillion-dollar factory in Georgia, an abrupt reversal aimed at cutting costs while the company prepares to launch a cheaper electric vehicle.
The decision will save the automaker more than $2.25 billion in capital expenditures, the company said in a filing March 7. Shifting planned production of the forthcoming R2 model to an existing facility in Illinois will allow Rivian to begin deliveries in the first half of 2026, earlier than expected. The surprise announcement plunges the high-profile factory project into uncertainty, but CEO RJ Scaringe said it remains important to the company.
