Rivian Shares Fall 1.29% with 165th Trading Volume Rank as $5 Billion Georgia EV Factory Gains Momentum

Rivian Automotive (RIVN) fell 1.29% on August 19, with a trading volume of $600 million, ranking 165th among U.S. stocks. The company announced plans to proceed with its $5 billion electric vehicle factory in Georgia, a project expected to create 7,500 jobs and begin production by 2028. Initial groundwork, including site grading and utility installation, is already underway at the 2,000-acre facility, with vertical construction set to start in 2026. The project, delayed since its 2021 announcement, relies on a $1.5 billion state incentive package and a $6.6 billion federal loan secured in early 2025.

The factory remains a cornerstone of Rivian’s growth strategy despite repeated setbacks and cost-cutting measures. Political tensions persist, with Republican critics challenging the scale of federal support while Democratic leaders advocate for the incentives. Local officials emphasize the project’s economic significance, positioning it as a key component of Georgia’s expanding EV sector. Rivian will host public events in September to mark project milestones, including a September 14 community celebration and a September 16 groundbreaking ceremony with state officials.

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