Rivian hits the pause button

[gobbleinwoods]

In tomorrow's news today

Rivian pauses plan to build $5B Georgia factory

 

[livinoutdoors]

And let me be the first to wish them farewell! Adios!

 

[gobbleinwoods]

And let me be the first to wish them farewell! Adios!

And in the process have destroyed some valuable farm land, built unneeded roads, cut down some timber land, and cost the state (tax payers) millions of dollars.

 

[fishfryer]

It appears that evs are quickly losing their appeal

 

[livinoutdoors]

And in the process have destroyed some valuable farm land, built unneeded roads, cut down some timber land, and cost the state (tax payers) millions of dollars.

And to think, it would have only gotten worse had they stayed. Maybe the needless destruction of good farm land will be a warning sign for the next time they try this. I hope anyway.

 

[Stob]

They (most Americans) are reevaluating the EV craze minus the Tesla owners (Tesla has a cult following). Rivian SUV's are a hundred grand. They released this week a new car that cost less than $40K.

They are going to play the market between EV down-sales (much to do with inflation and the economy) and and how the decrease in prices play out over the next 18 months. That land will be built on by Rivian but it appears that it wont be anytime soon. Another report out today shows that we are in a major power grid situation.

@sinclair1 This should be positive for your investment in the long run (short run shows this already). It means that they have good leadership.

EV's are like your eyes, or at least what my eye dr has been telling me for many years- its a numbers game- when you hit a certain number, you need reading glasses. The folks that are now 18-30 (not them all but prob 75%) are 100% greenies.

 

[sinclair1]

R2 - Rivian

Join us for the R2 Reveal on March 7

rivian.com

Soccer mom special

 

[sinclair1]

Buyem baby! Sinclair needs a new pair of shoes.

 

[sinclair1]

Apple will buy Rivian. They need a
Platform to stay relative. Killing the Apple car plan, slowing the Ga plant, all related.

 

[NE GA Pappy]

That is the ugliest mode of transportation since Fred built his foot powered rockmobile

 

[sinclair1]

That is the ugliest mode of transportation since Fred built his foot powered rockmobile

Teslas are ugly too! Today’s consumer likes ugly grocery getters. It’s all about feeling good about your carbon foot print.
Remember that’s clean electricity coming from GA power

 

[Deerhead]

So when Trump gets elected how hard will the EV market crash?

 

[sinclair1]

So when Trump gets elected how hard will the EV market crash?

Not much, Tesla boomed during Trump. Now if Trump done away with Obamas cafe garbage, it would tank. But he had that chance and passed on it. He lowered some stuff but it remained.

 

[Deerhead]

Not much, Tesla boomed during Trump. Now if Trump done away with Obamas cafe garbage, it would tank. But he had that chance and passed on it. He lowered some stuff but it remained.

Did not think about that! Thanks Sinclair

 

[ucfireman]

That is one ugly front on that vehicle.

Glad they are pausing, wish the state would reposes it for "breach of contract" and the fact the sate gave them huge tax breaks and according to this article bought the land.

Rivian's $5 billion plant in Georgia loses lucrative property tax break after judge unexpectedly throws it out

The electric vehicle maker was projecting to hire 7,500 people east of Atlanta. It said it "respectfully disagree[s]" with the decision.

fortune.com

The state also plans to spend $200 million to buy the site and prepare it. Rivian could claim a projected $200 million income tax credit, and $280 million in sales tax breaks on machinery and construction materials. The state also plans to spend $90 million to build a job training center and train workers.