Full speed ahead for Rivian despite earnings, per Georgia officials

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The day after Rivian stocks fell in response to a $7 billion annual loss, CEO R.J. Scaringe came to Georgia to trumpet the EV-maker's ongoing plans for a massive production facility east of Atlanta.

Despite a year of unprofitability and an ongoing legal battle with some residents, Rivian has begun site development on a 2,000-acre parcel 50 miles east of Atlanta. The company opened an office nearby, and as Kemp made clear, Rivian continues to have the state’s support.

"They're just continuing to work to scale that production up, but it's no different than what Tesla or any other new EV manufacturers have gone through,” Kemp told reporters Wednesday.they "expected it to be a challenging year" given the release of three new vehicles and high demand.— will be "foundational for us to really get to the next level of scale and continue to drive not only our scale but our profitability.

 

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