Elon Musk had predicted that Rivian was heading for bankruptcy in six quarters if it didn’t change trajectory. $827m funding could mark that change.
North American pure EV player Rivian has received a critical $827 million incentive package from the State of Illinois, enabling it to expand operations at its factory, located in the state town of Normal. The incentive comes from Illinois Department of Commerce & Economic Opportunity (DCEO), part of whose mission is “to usher in the new clean energy economy.”
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