Rivian is now in discussions about a new incentive arrangement with the state of Illinois, after the electric vehicle (EV) maker unveiled its upcoming R2 SUV earlier this week, now set to be built within the state.
During the automaker’s unveiling of the highly anticipated R2 on Thursday, Rivian said it would start producing the forthcoming SUV at its factory in Normal, Illinois, rather than following initial plans to produce the EV at a future plant in Georgia. Rivian is also pausing construction on the new factory, set to be located outside of Atlanta, in hopes to focus instead on achieving profitability with the upcoming R2, R3 and R3X EVs.
In a statement on Tuesday, the Illinois Department of Commerce and Economic Opportunity (DCEO) referenced the plans for a new incentives package, saying that it would share details upon finalizing certain parts of the proposal.
Tesla Lead Engineer urges Rivian to optimize R2 for existing Supercharger Network
“The elements of an economic development package are still being finalized,” the DCEO said (via Automotive News). “Once they are finalized, we will update the public on the details of the incentive package.”
Deliveries of the R2 are expected to begin in 2026, and the company says the change of plans to produce the R2 at its currently operational Normal facility will help it get the $45,000 SUV on the market sooner. Meanwhile, plans and construction for the Georgia plant are delayed indefinitely.
“Once again, Rivian has reaffirmed the message that Illinois is one of the best places to do business in the country,” DCEO added. “We stand by Rivian and stand ready to support them as they increase capacity at their Bloomington-Normal facility to rollout the R2.”
Rivian has already created more than 8,000 jobs in Illinois, and with the future of the Georgia plant now unclear, the former state has a chance to scoop up additional employment opportunities as the industry turns toward EVs. Still, it isn’t clear whether Rivian plans to expand its Normal factory to accommodate the R2 line or re-tool production lines to increase output, nor is it clear if the addition will add more jobs.
"Ultimately, Rivian exists to not only help transition the world away from combustion fuels and into electrification — we exist to help generate amazing memories in the process of doing so. These vehicles represent our future — what we've been building to with the R1 products and… pic.twitter.com/EW4K43yNHH
— Rivian (@Rivian) March 9, 2024
CEO RJ Scaringe says he expects launching the R2 at its Normal production facility could save the company almost $2.3 billion, after the automaker posted an operating loss of $5.7 billion in 2023.
“Just as we were faced with incredibly daunting challenges during the launch of our flagship R1 product line — ramping production in the throes of a global pandemic amid an unprecedented supply chain crisis — we are applying those same lessons today,” Scaringe wrote in a recent statement. “Historically high interest rates and geopolitical uncertainty are affecting everyone, and we must adjust and stay ahead of those situations.”
Beyond unveiling the expected R2 earlier this week, Rivian also surprised the world by unveiling designs for new compact crossover EVs, dubbed the R3 and R3X. The automaker didn’t share a price or production timeline for the crossovers, though it did say both EV lineups will offer three configurations: single-motor, dual-motor and tri-motor trims. Rivian also says the EVs will have DC fast-charging capabilities, featuring both an NACS and CCS charging option.
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Tesla Board Chair Robyn Denholm met with Bloomberg this morning to discuss a variety of topics, but perhaps one of the most interesting was her comments on what is being done to protect company CEO Elon Musk.
After the assassination of right-wing political commentator Charlie Kirk this week, there have been concerns about Musk’s safety, as well as that of other high-profile business leaders and political figures.
Earlier this week, Musk said himself that his security detail would be increased significantly following Kirk’s death, a move that many investors and fans of the company had requested because of political violence.
Elon Musk assures Tesla investors he will enhance his security detail
“Definitely need to enhance security,” Musk said. Tesla spent $3.3 million on Musk’s security in 2024 and January and February 2025. For reference, Meta spent over $27 million on Mark Zuckerberg’s security last year, which is higher than any other tech CEO.
During Denholm’s appearance on Bloomberg TV earlier today, she stated that the company has been focused on Musk’s security detail for “many years,” especially considering he is one of the richest people on Earth and holds an incredible amount of influence.
“It is something that we take very seriously; he takes it very seriously as well. So, again, from a board perspective, it is something we’ve discussed at length,” Denholm said.
Tesla Board Chair Robyn Denholm on increased security for CEO Elon Musk:
— TESLARATI (@Teslarati) September 12, 2025
Denholm added that she believes “there is not anyone in a boardroom that is not touched by what has happened with Charlie Kirk.”
Although Musk’s political involvement has toned down significantly in the past, he still has enemies, especially based on groups that oppose him and the company specifically. Based on this week’s events, it feels that increased security is a necessary expense Tesla must account for.
Investor's Corner
Tesla bear turns bullish for two reasons as stock continues boost
“I think from a trading perspective, it looks very interesting,” Nathan said, citing numerous signs of strength, such as holding its 200-day moving average and holding against its resistance level.
A Tesla bear is changing his tune, turning bullish for two reasons as the company’s stock has continued to get a boost over the past month.
Dan Nathan, a notorious skeptic of Tesla shares, said he is changing his tune, at least in the short term, on the company’s stock because of “technicals and sentiment,” believing the company is on track for a strong Q3, but also an investment story that will slowly veer away from its automotive business.
“I think from a trading perspective, it looks very interesting,” Nathan said, citing numerous signs of strength, such as holding its 200-day moving average and holding against its resistance level.
He also said he believes a rally for the stock could continue as it heads into the end of the quarter, especially as the $7,500 electric vehicle tax credit is coming to an end at the end of the month.
With that being said, he believes the consensus for Q3 deliveries is “probably low,” as he believes Wall Street is likely underestimating what Tesla will bring to the table on October 1 or 2 when it reports numbers for the quarter.
Tesla bear Dan Nathan has flipped his script on Tesla $TSLA shares, citing “technicals and sentiment”
— TESLARATI (@Teslarati) September 12, 2025
Tesla shares are already up over five percent today, with gains exceeding nine percent over the past five trading days, and more than fourteen percent in the past month.
While some analysts are looking at the performance of other Mag 7 stocks, movement on rates from the Federal Reserve, and other broader market factors as reasoning for Tesla’s strong performance, it appears some movement could be related to the company’s recent developments instead.
Over the past week, Tesla has made some strides in its Robotaxi program, including a new license to test the platform in the State of Nevada, which we reported on.
Tesla lands regulatory green light for Robotaxi testing in new state
Additionally, the company is riding the tails of the end of the EV tax credit, as inventory, both new and used, is running extremely low, generally speaking. Many markets do not have any vehicles to purchase as of right now, making delivery by September 30 extremely difficult.
However, there has been some adjustments to the guidelines by the IRS, which can be read here:
Tesla is trading at around $389 at 10:56 a.m. on the East Coast.
News
Tesla lands regulatory green light for Robotaxi testing in new state
This will be the third state in total where Tesla is operating Robotaxi, following Austin and California.
Tesla has landed a regulatory green light to test its Robotaxi platform in a new state, less than three months after the ride-hailing service launched in Texas.
Tesla first launched its driverless Robotaxi suite in Austin, Texas, back on June 22. Initially offering rides to a small group of people, Tesla kept things limited, but this was not to be the mentality for very long.
It continued to expand the rider population, the service area, and the vehicle fleet in Austin.
The company also launched rides in the Bay Area, but it does use a person in the driver’s seat to maintain safety. In Austin, the “Safety Monitor” is present in the passenger’s seat during local rides, and in the driver’s seat for routes that involve highway driving.
Tesla is currently testing the Robotaxi platform in other states. We reported that it was testing in Tempe, Arizona, as validation vehicles are traveling around the city in preparation for Robotaxi.
Tesla looks to make a big splash with Robotaxi in a new market
Tesla is also hoping to launch in Florida and New York, as job postings have shown the company’s intention to operate there.
However, it appears it will launch in Nevada before those states, as the company submitted its application to obtain a Testing Registry certification on September 3. It was processed by the state’s Department of Motor Vehicles Office of Business Licensing on September 10.
NEWS: Tesla has officially received approval from the Nevada DMV to start testing autonomous vehicles (robotaxis) on public roads.
Today, I confirmed directly with the Nevada DMV that @Tesla‘s application to obtain a Testing Registry certification was approved by the DMV Office… pic.twitter.com/hx5JhHBFiD
— Sawyer Merritt (@SawyerMerritt) September 11, 2025
It will then need to self-certify for operations, essentially meaning they will need to comply with various state requirements.
This will be the third state in total where Tesla is operating Robotaxi, following Austin and California.
CEO Elon Musk has stated that he believes Robotaxi will be available to at least half of the U.S. population by the end of the year. Geographically, Tesla will need to make incredible strides over the final four months of the year to achieve this.
Tesla Board Chair discusses what is being done to protect CEO Elon Musk
Tesla bear turns bullish for two reasons as stock continues boost
Tesla lands regulatory green light for Robotaxi testing in new state
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