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Financing Secured: Rivian's $5 Billion EV Plant Ready for Construction in Georgia

State and local economic development officials have closed on the bonds issued to help finance the $5 billion Rivian electric vehicles plant to be built in Morgan and Walton counties.

Officials have also executed a rental agreement giving Rivian long-term rights to the project. When it was first announced late in 2021, the Rivian plant was the largest economic development project in Georgia history.

But it was superseded last year when Hyundai Motor Group broke ground on a $5.5 billion EV plant west of Savannah that has grown another $2 billion with this year’s announcement of an expansion of the project in partnership with LG Energy Solution.

Grading work will be completed at the Rivian site in the coming weeks, and construction will begin by early next year.

Jeff has delivered morning news at WUGA Radio for more than a decade. He was among a team at CNN that won a George Foster Peabody Award in 1991 for an educational product based on the fall of the Soviet Union. He also won an Edward R. Murrow Award from Radio Television Digital News Association in 2007 for producing a series for WSB Radio on financial scams. Jeff is a graduate of the Babcock Graduate School of Management at Wake Forest University (MBA) and holds a BS in Business Administration from Campbell University, both in North Carolina.