Below is research complied by college student Christian Prenzler.
What is Rivian Automotive?
Taking a look through the brief and unknown history of the start-up vehicle development company
On Thursday afternoon, The Pantagraph broke the news that Rivian Automotive Inc. would be purchasing the plant in whole. Rivian is a Michigan based automotive engineering firm and does not produce vehicles, and has yet to reveal a working prototype. Their deal to purchase the factory consists of an Rivian investment of $40.5m into the factory and employment benchmarks in order to receive the $1mm cash grant from the Town of Normal as well as property tax abatements.
Heres the facts:
- Rivian has never produced a working vehicle or prototype
- Rivian has only raised $1.25m in private funding rounds since it’s existence in 2009
- The company hasn’t revealed any specific technical advancements
- Rivian has accepted incentives from both Florida and Michigan, both packages were similar to what Normal is offering
- Rivian’s other financial backers include Space Florida, which is a government entity
- The company holds two patents
Their Adventure in Florida
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