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On April 28, 2023, the Georgia Court of Appeals reversed the ruling of the Morgan County Superior Court and approved $15 billion in bonds for Project Tera, a 2,000-acre Rivian Horizon...
Approaching the end of the day, we felt that the information Associated Press obtained about Rivian’s Project Tera might not be confirmed. However, governor Brian P. Kemp did not let that happen. Georgia officially confirmed it would be Rivian’s new house with a plant that will get $5 billion in investments.
On July 23, 2021, Rivian confirmed it was looking for a location for its second factory. Named Project Tera, it would have to have a production capacity of at least 180,000 cars to meet Rivian’s ambition of manufacturing 300,000 cars per year as soon as possible. Rumors said the new factory would be in Forth Worth, Texas, but a new report stated it would be in Georgia and revealed next week. It seems Rivian decided to anticipate the announcement.
Rivian is willing to spend serious money on its new factory, known so far only by the codename Project Tera. The EV startup plans to spend $5 billion to have two plants in the same land: one for its cars and another for batteries. After Reuters said that Arizona was the favorite to receive the investment, Bloomberg discovered that a Texan city might win the challenge: Fort Worth.