Rivian plans to invest $ 5 billion in its second assembly plant in the United States

Last week news broke that Rivian was planning to build a second manufacturing plant in the United States for its electric vehicles and batteries, and now more details have been leaked. The company plans to invest $ 5 billion initially in the second plant, dubbed Project Tera, which is expected to begin construction in fall 2021, according to Reuters. The goal is to start production by the second quarter of 2023.

The second plant would include a 50 gigawatt hour (GWh) battery cell production operation and a product and technology center. It’s unclear where it will be built, but the company is reportedly looking for land east of Mesa, Ariz. Near Gold Canyon, according to Reuters‘sources. Rivian general manager RJ Scaringe has reportedly discussed the project with Arizona Governor Doug Ducey.

Rivian previously acknowledged that he was looking to grow. “The company has recognized that future production and product plans will not be fully met by the current capacity of the Rivian plant in Normal, Ill.,” He said in the document seen by Reuters.

The plant would support around 10,000 jobs, although many of them could come indirectly. For a startup that has so far not produced any vehicles, however, the investment and employment figures would be impressive. Rivian is backed by Ford, Amazon and other companies and could reach $ 50 billion worth in a possible public listing later this year, according to the previous Reuters story.