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Rivian Automotive (NASDAQ:RIVN) confirmed that it will move forward with building a factory in Georgia in early 2024.
The electric vehicle maker made the announcement as it opened a retail location in an Atlanta development, according to the Associated Press. The Atlanta location is the eighth in a network of what the company calls “spaces” it is rolling out in select locations nationwide. rivian (RIVN) is planning additional locations in Colorado, Texas and California in the coming months.
The Rivian space at Atlanta’s Ponce City Market is intended in part to ease potential buyers’ fears about whether they will be able to easily take long trips in a Rivian (RIVN) truck while charging it. The space includes potential routes diagrammed on a wall to highlight the practical use of electric vehicles.
Rivian Automotive (RIVN) shares fell 0.57% in premarket trading on Friday after losing 5.14% on Thursday amid a broad sell-off in the electric vehicle sector after Tesla’s (TSLA) earnings report disappointed.
