Rivian reveals location of second US plant
Rivian has decided to build its planned second US plant to the east of Atlanta, in the state of Georgia. Once completed, the plant should be able to produce up to 400,000 electric vehicles per year. Construction is scheduled to begin in the summer of 2022 and production is to start in 2024.
Nikola secures fresh capital via shares
Nikola had already entered into an agreement to sell up to $300 million worth of shares to Tumim Stone Capital in June. Now the electric truck maker has signed a second purchase agreement with the investment bank, bringing the total to $600 million.
Pre-series production of Ford F-150 begins
Ford has started pre-series production of the F-150 Lightning. The electric pickup truck is scheduled for market launch in spring 2022. Due to the high demand, Ford has now confirmed that it will significantly increase production.
Lordstown Motors appoints new CEO
The financially troubled electric car start-up Lordstown Motors has appointed a new CEO, Daniel Ninivaggi. Previously, Steve Burns had stepped down as CEO and Julio Rodriguez as CFO.
VW to up EV output in the USA “in a massive way”
In response to President Joe Biden’s transport decarbonisation course, Volkswagen wants to realign its electric car plans for the United States “in a massive way”. Thomas Ulbrich, chief development officer at VW, has just made the announcement in Munich.
Rivian scores in new financing round
Electric car startup Rivian is reportedly close to closing a multi-billion dollar financing round. According to a media report, the new investments are expected to bring Rivian a valuation of 25 billion US dollars (around 20 billion euros).
Lordstown to hit the stock market
Lordstown Motors plans to go public on the US stock exchange Nasdaq through a merger with the investment company DiamondPeak Holdings. It is not the only American EV startup with such plans.
Nikola begins factory construction in Arizona
Nikola Motor has just celebrated the ground-breaking ceremony for its plant in Coolidge in the US state of Arizona, where the Nikola Tre and Nikola Two trucks will initially be produced. Nikola CEO Trevor Milton has also revealed more about the electric pickup Badger.
GM rumoured to electrify pickups & SUVs
General Motors is apparently planning a whole series of electric pickup trucks and SUVs to be produced at the Detroit-Hamtramck plant. This could result in significantly more electric models coming onto the market than expected.