Rivian Expands Plant Capacity to 300K Vehicles

Rivian increased Georgia plant capacity to 300,000 vehicles. The company received $1 billion from Volkswagen and delivered first batch of R2 trucks. The R2 is a mass-market model priced below the R1. Rivian achieved gross profit, proving it can sell trucks for more than production costs. The R2's success will determine if Rivian becomes sustainably profitable.