Rivian Plans to Spend $5 Billion on a Second EV Plant in Georgia
The company, which began trading on the stock exchange last month, said it lost $1.2 billion in the third quarter.
Several years ago, Georgia offered a generous state-tax credit for purchase of a zero-emission vehicle, and its sales of electric cars boomed. When state politics interceded to kill that credit in 2015—and add a new tax specifically on those same vehicles—the state became a case study on what happens when such incentives are suddenly...