It's 'do or die' for electric vehicle maker Rivian as it breaks ground on a $5 billion plant

Core Insights - Rivian Automotive is proceeding with the construction of a $5 billion electric vehicle plant in Georgia, despite challenges such as the rollback of federal electric vehicle tax credits [1][2] - The Georgia facility is crucial for Rivian's strategy to achieve profitability and scale production, with plans to manufacture 200,000 vehicles annually starting in 2028 [3][5] - Rivian's current production is limited, with expectations to deliver only 40,000 to 46,000 vehicles this year, down from 52,000 last year, as the company prepares for new model launches [4] Company Strategy - Rivian's Chief Policy Officer emphasized that the company is not reliant on federal tax incentives for its success, focusing instead on the superiority of its electric vehicles [2] - The company aims to expand its product lineup with the introduction of smaller R2 SUVs next year, priced starting at $45,000, to attract a broader market [3] Market Context - The electric vehicle market in the U.S. is experiencing slowing sales growth, with only a 1.5% increase in the first half of 2025 [5] - Tesla remains the dominant player, holding nearly 45% of U.S. electric vehicle sales, while Rivian's market share is at 3%, indicating significant competition from established automakers like General Motors [6]