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Rivian receives $827 million incentive package to expand Illinois facility
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Rivian receives $827 million incentive package to expand Illinois facility
May 2, 2024 11:51 AM

(Reuters) -Rivian Automotive ( RIVN ) said on Thursday it has received $827 million in incentives from the State of Illinois to expand operations at its Normal facility in the state.

The company's shares rose nearly 7% in afternoon trade. It had said it would delay construction of a second factory in Georgia.

Its less expensive R2 model unveiled in March would be produced at its first plant in Normal, Illinois, it had then said.

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