A major automotive manufacturer is coming to Georgia. Governor Brian Kemp announced this afternoon that electric vehicle maker Rivian will build a $5 billion plant with a projected workforce of over 7,000 near Social Circle, about 45 minutes south of Athens.
It’s the company’s second factory, following its purchase of a former Mitsubishi plant in Illinois. The size of the project makes the Rivian announcement the largest industrial announcement in the state’s history, according to the AP.
Headquartered in California, Rivian currently produces an electric pickup which was recently named Truck of the year by auto magazine Motor Trend, with plans to add an electric SUV to its lineup. Additionally, the company has contracted to build 100,000 vans for Amazon, which owns a stake in Rivian. The new plant will be paid for from the proceeds of a nearly $12 billion dollar stock offering.
At $95 billion dollars, the company’s valuation is higher than those of both GM and Ford. Those two automakers will also be entering the electric truck marketplace in the next year or two. Rival electric automaker Tesla is also designing an electric pickup.