Rivian In Talks To Build $5 Billion EV Plant In North Texas

Rivian Automotive Inc., the electric-vehicle startup backed by Amazon.com Inc., is in talks to invest at least $5 billion to build a factory near Fort Worth, Texas, according to a document obtained by Bloomberg News.

The factory -- codenamed “Project Tera” according to the document -- will be able to produce 200,000 vehicles a year, and will create at least 7,500 jobs by 2027. The presentation, made by the City of Fort Worth’s Economic Development Department to the City Council and dated Aug. 10, also includes a number of incentives including grants and county tax abatement of up to $440 million.

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