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Rivian Motorway name change approved by city council despite opposition
The City Council of Bloomington, Illinois approved a motion last night to rename the highway where Rivian’s main manufacturing plant is located to Rivian Motorway. The road, which has parts located in both Bloomington and Normal, is currently named Mitsubishi Motorway after the prior owner of the facility. After some deliberation, the Council voted 7 to 2 to move forward with the requested name change.
Prior to the Bloomington Council’s meeting, the vote on the naming matter was expected to largely be a formality. However, one council member was decidedly against the motion. Donna Boelen, Alderwoman of Ward 2, objected over several concerns focused on the long-term ramifications of the move.
“Is this really in the best interest of the City of Bloomington and the region? It’s an unfortunate precedent that streets have been named after companies, and I would like to see that come to an end,” Boelen commented. “Rivian has two other operational entities, one in California, and one in Michigan… Rivian did not meet its incentive goal last year. They promised 1,000 employees over the next ten years, and that only means 100 per year.”
Along with casting doubts about Rivian’s long-term prospects in Illinois, Boelen further asserted that street names are free advertising that could deter future businesses from setting up shop nearby as there are several vacant lots near Rivian’s facility that could be developed.
Renaming Mitsubishi Motorway would also require local businesses to incur significant expenses, Boelen further claimed, citing one business owner’s quote of $5,000 to update their website and advertising materials with the new street name. This particular point caused a bit of debate among the members, specifically with regard to the amount cited.
“I have a really hard time understanding where a $5,000 total could possibly come from,” one member objected. “I mean, changing a website and changing the line to Rivian from Mitsubishi should take somebody like 5 minutes at the most… I think maybe he should have some serious conversations with his web developer at that point.” Mayor Teri Renner also added a comment about the overall street naming precedent in response to Boelen’s concerns. “It’s pretty common throughout the entire United States to name streets after major investors,” he said. “That is part of what some people think of as pro-business.”
The Town Council for Normal, where Rivian’s facility is actually located, had its own debate about the name change despite its motion ultimately being approved 4-2 in early July. Council member Stan Nord cited concerns about electronic databases adjusting to the temporary nature of businesses in the long term. Other members were not convinced that a problem existed, though, noting that new streets and street name changes were very common across the country.
Rivian specifically requested the name change earlier this year, according to a memo written by Assistant City Manager Eric Hanson to the Normal City Council. “Obviously, it’s not necessarily advantageous for them to bring (potential investors) down Mitsubishi Motorway,” he said. “ A second road for access to Rivian’s factory is also planned for renaming, citing the same reasons – Sakura Lane will be renamed Electric Avenue.
The nascent car maker bought their factory headquarters from Mitsubishi in 2017, and efforts are currently underway to transition to the electrified lineup they have in the works to include the R1T pickup truck and R1S SUV. Interestingly, many of the workers currently involved in Rivian’s changeover process were part of the original Mitsubishi team that opened the factory when it was new.
Rivian must gain one more approval from the McLean County Board before Rivian Motorway is final. Along with the Normal and Bloomington Councils, the Illinois Emergency Telephone Systems Board has also approved the move. The County Board will consider the request later this month.
The City Council’s deliberations in full can be viewed below:
Tesla just gave what is perhaps its biggest signal yet that the launch of the Cybercab, its autonomous ride-hailing-geared car, is imminent.
The Cybercab has been spotted outside of Gigafactory Texas in massive numbers over the past few days, with hundreds of units being stored on property just days after the vehicle received a Certificate of Conformity from the EPA.
Today, things were a bit different.
Cybercabs spotted on Giga Texas property today had an addition: a Cybercab decal on the side, reminiscent of the “Robotaxi” ones that were placed on Model Ys just as the company launched its ride-sharing platform about a year ago.
Giga Texas drone operator Joe Tegtmeyer noticed the change today:
Tesla Cybercabs are now getting “Cybercab” logos on the side of them!
Tesla did the same with Model Ys that were given “Robotaxi” logos: https://t.co/DanANtw1m7 pic.twitter.com/FqOhH0S9Ks
— TESLARATI (@Teslarati) June 19, 2026
Tesla could be signaling that the Cybercab is preparing to enter the Robotaxi fleet in the coming weeks or months with this move. It seems more symbolic than anything; Tesla is ready to throw Cybercabs in the ride-hailing platform just as it did with Model Ys last year.
The addition of the Certificate of Conformity awarded to the Cybercab is another major factor working to Tesla’s advantage. The company now has permission from the EPA to allow the vehicle to operate on public roads and enter the chain of commerce. It’s officially street legal.
Tesla Cybercab specs revealed: range, curb weight, range ratings, and more
The big question that remains is whether Tesla will be able to operate the car without a safety monitor, especially considering it plans to put the car out there without a steering wheel or pedals. With the Cybercab only having a seating capacity of two, it is hard to believe Tesla will even consider putting a Safety Monitor in the car.
It did recently self-certify as Level 4 and has the ability to operate driverless vehicles in the State of Texas under a law that took effect on May 28. You can read more about that here:
Tesla’s Robotaxi dreams just took a massive step toward reality
We’d imagine Cybercabs will be on the roads as soon as July, but August will likely be a better estimate of when the car will be entered into the Cybercab fleet. It all depends at where Tesla is, as they’ve truly prioritized safety with the rollout of the Robotaxi platform.
Elon Musk has publicly questioned Moody’s credit assessments following the rating agency’s decision to assign SpaceX a Baa1 investment-grade rating, two notches above Tesla’s Baa3. The comments came amid discussions comparing the two companies’ financial profiles.
SpaceX earned its first-time Baa1 rating with a stable outlook from Moody’s. The agency highlighted the company’s leadership in orbital launches, the growing recurring revenue from its Starlink satellite network, strong vertical integration, U.S. government contracts, and emerging opportunities in AI infrastructure.
These factors were cited as supporting robust cash flows, margin expansion, and financial flexibility.
Musk responded directly: “Tesla’s credit rating is ridiculously low tbh,” and added, “Yeah, makes no sense. Tesla has over $40B in cash, no debt, and is consistently profitable!” His remarks underscored Tesla’s balance sheet strength and profitability at a time when many traditional automakers continue to report losses in the shift to electric vehicles.
Yeah, makes no sense.
Tesla has over $40B in cash, no debt and is consistently profitable!
— Elon Musk (@elonmusk) June 19, 2026
Tesla maintains a leading position in the global EV market, with diversification into energy and storage, battery technology, and robotics through projects like Optimus. Recent financial updates show the company generated positive free cash flow of $1.4 billion in Q1 2026, supported by operating cash flow of $3.9 billion. Cash and short-term investments stood at approximately $44.7 billion.
Moody’s has affirmed Tesla’s Baa3 issuer rating with a stable outlook in periodic reviews, acknowledging the company’s EV leadership, technology strengths, including AI for autonomous vehicles, solid profitability, and strong liquidity.
Tesla (TSLA) scores Baa3 Moody’s rating for ‘stable’ outlook
However, the agency has also noted challenges in the automotive segment and expectations for margin pressures.
Musk’s critique highlights a common debate about how traditional rating methodologies apply to high-growth, capital-intensive technology companies. SpaceX benefits from long-term government-backed contracts and diversified, recurring revenue streams, while Tesla’s valuation reflects heavy investment in future technologies such as autonomy and robotics.
Both ratings remain investment-grade, yet the one-notch difference has fueled online discussion about potential inconsistencies in evaluating innovative firms.
The exchange comes as SpaceX explores financing options following its recent valuation milestones, while Tesla continues executing on its multi-year roadmap. Musk’s pointed response serves as a reminder that credit ratings, though influential for borrowing costs, represent one lens through which markets assess corporate strength—and that company leaders often view their financial positions through the lens of long-term innovation and cash generation rather than short-term risk metrics alone.
A new report from Reuters claims that a transport authority in Sweden is pushing back against the approval of Tesla’s Full Self-Driving suite because it will travel over speed limits.
The report says the Swedish Transport Administration (TRV) recommends the European Union votes against FSD’s approval. TRV believes it should not be approved until Tesla disables FSD’s ability to speed.
TRV sent a letter to the European Union’s Technical Committee on Motor Vehicles (TCMV), which is set to meet on June 30 to discuss the potential approval of the Tesla FSD suite in the country. Tesla, which has received various approvals in Europe over the past two months, has not provided a comment.
Teslas operating on FSD do travel over the speed limit, depending on the Speed Profile that is chosen. Drivers have the ability to disengage FSD at any point; Tesla specifically states that those supervising the suite are responsible for its actions.
Let’s cut to the chase: humans operating any vehicle speed almost daily in the United States. Realistically, speed limits in the U.S. are more frequently treated as speed minimums. However, other countries are different, and driving behaviors are less aggressive.
TRV believes that “allowing automated systems to systematically exceed legal speed limits…risks undermining both the legal framework and the expected safety benefits of vehicle automation,” the report stated. It’s surprising that Tesla has not received this claim from other countries previously.
This could be a good argument to bring Max Speed back, the setting that previously allowed the driver to choose the absolute fastest the car would travel.
This would still put the responsibility of supervision in the hands of the driver. It would allow the driver to choose whether the car would travel over the speed limit or not, acknowledging that they set the speed, and if they get pulled over, there would be no ability to argue it.
However, it does not seem as if this is something Tesla will do, especially considering many U.S. drivers have requested the feature in an effort to eliminate speeding or at least tone it down. The company has not shown any interest in bringing it back.
Tesla has approvals for FSD in Europe in Estonia, Lithuania, Denmark, the Netherlands, and Belgium.
Tesla gives its biggest signal yet that Cybercab launch is imminent
Elon Musk challenges Tesla credit rating from Moody’s after SpaceX gets a higher one
