Amazon-backed Rivian plans European assembly plant, report says

Amazon-backed Rivian plans European assembly plant, report says

Rivian Automotive Inc., the electric-vehicle maker backed by Inc., is scouting places in Europe to construct a brand new manufacturing unit, individuals accustomed to the matter informed Bloomberg.

The positioning possible would first produce a supply van for Amazon and shortly after construct Rivian’s fashions for customers, the individuals stated. Whereas no website has been chosen but, a number of international locations are into consideration, together with the U.Ok., Germany and Hungary, stated the individuals, who requested to not be named discussing personal info. Different websites exterior the European Union are also into consideration.

Rivian has employed the business actual property companies agency JLL for the search. The carmaker hopes to begin van manufacturing as quickly as subsequent yr, a number of the individuals stated.

Representatives for Rivian, Amazon and JLL declined to remark.

Rivian is seen as a possible automotive disruptor akin to Tesla Inc., the world’s largest maker of purely battery-powered automobiles.

The Irvine, California-based firm is because of begin manufacturing and U.S. deliveries of a pickup mannequin in June, adopted by an SUV in August. Bloomberg Information reported Tuesday that it’s seeking to go public as quickly as September, probably at a valuation of greater than $50 billion.

Rivian has an order for 100,000 electrical supply vans from Amazon, which has invested within the firm. Amazon has stated it expects 10,000 of the vans to be on roads making deliveries globally by 2022, and the remainder of the order is due by the top of the last decade. Manufacturing of the vans is anticipated to begin at Rivian’s plant in Regular, Sick., by the fourth quarter.

EVs are a cornerstone of Amazon’s objective to ship half its shipments with out producing greenhouse fuel emissions by 2030. It has purchased tens of hundreds of conventionally fueled vans lately and is more and more delivering packages utilizing bespoke contractors in Amazon-branded automobiles as a substitute of counting on companions resembling United Parcel Service Inc.

Three variants of the Rivian-built van are deliberate with completely different cab shapes and sizes tailor-made to various kinds of cargo. The vans will probably be able to driving round 150 miles between fees.

Rivian has raised greater than $eight billion up to now from high-profile firms and buyers together with Amazon, Ford Motor Co., T. Rowe Worth and BlackRock. The carmaker was valued at $27.6 billion in its newest spherical, an individual accustomed to the matter stated final month. It has greater than 3,600 staff throughout websites in Michigan, California and the plant in Illinois, which was previously owned by Mitsubishi Motors Corp.

The startup was based in 2009 by R.J. Scaringe, a Massachusetts Institute of Expertise graduate with a doctorate in mechanical engineering who’s CEO.

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