News

Rivian Motorway name change approved by city council despite opposition

Rivian Automotive's Normal, IL factory. (Photo: Rivian)

Published

6 years ago

August 13, 2019

Dacia J. Ferris

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.

Rivian’s 2.6M SQFT Factory in Normal, IL (Photo: Christian Prenzler)

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:

Dacia J. Ferris

Accidental computer geek, fascinated by most history and the multiplanetary future on its way. Quite keen on the democratization of space. | It's pronounced day-sha, but I answer to almost any variation thereof.

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Investor's Corner

Tesla receives major institutional boost with Nomura’s rising stake

The move makes Tesla Nomura’s 10th-largest holding at about 1% of its entire portfolio.

Published

2 hours ago

November 17, 2025

Simon Alvarez

Credit: Tesla China

Tesla (NASDAQ:TSLA) has gained fresh institutional support, with Nomura Asset Management expanding its position in the automaker.

Nomura boosted its Tesla holdings by 4.2%, adding 47,674 shares and bringing its total position to more than 1.17 million shares valued at roughly $373.6 million. The move makes Tesla Nomura’s 10th-largest holding at about 1% of its entire portfolio.

Institutional investors and TSLA

Nomura’s filing was released alongside several other fund updates. Brighton Jones LLC boosted its holdings by 11.8%, as noted in a MarketBeat report, and Revolve Wealth Partners lifted its TSLA position by 21.2%. Bison Wealth increased its Tesla stake by 52.2%, AMG National Trust Bank increased its position in shares of Tesla by 11.8%, and FAS Wealth Partners increased its TSLA holdings by 22.1%. About 66% of all outstanding Tesla shares are now owned by institutional investors.

The buying comes shortly after Tesla reported better-than-expected quarterly earnings, posting $0.50 per share compared with the $0.48 consensus. Revenue reached $28.10 billion, topping Wall Street’s $24.98 billion estimate. Despite the earnings beat, Tesla continues to trade at a steep premium relative to peers, with a market cap hovering around $1.34 trillion and a price-to-earnings ratio near 270.

Recent insider sales

Some Tesla insiders have sold stock as of late. CFO Vaibhav Taneja sold 2,606 shares in early September for just over $918,000, reducing his personal stake by about 21%. Director James R. Murdoch executed a far larger sale, offloading 120,000 shares for roughly $42 million and trimming his holdings by nearly 15%. Over the past three months, Tesla insiders have collectively sold 202,606 shares valued at approximately $75.6 million, as per SEC disclosures.

Tesla is currently entering its next phase of growth, and if it is successful, it could very well become the world’s most valuable company as a result. The company has several high-profile projects expected to be rolled out in the coming years, including Optimus, the humanoid robot, and the Cybercab, an autonomous two-seater with the potential to change the face of roads across the globe.

@teslarati Tesla Full Self-Driving yields for pedestrians while human drivers do not…the future is here! #tesla #teslafsd #fullselfdriving ♬ 2 Little 2 Late – Levi & Mario

News

Tesla rolls out fresh Supercharger pricing strategy to more locations

Live Pricing aimed to resolve some of the shortcomings of the off-peak and on-peak system, aiming to keep prices low and base them on current utilization instead of a set time when prices change.

Published

2 hours ago

November 17, 2025

Joey Klender

Credit: Tesla

Tesla has rolled out a fresh Supercharger pricing strategy to more locations, as it confirmed it has added 550 additional sites in the United States to its “Live Pricing” strategy.

Live Pricing for Superchargers launched back in May, and was the company’s latest strategy to keep charging your EV cheap, affordable, and easy to understand.

Tesla has adjusted its pricing strategy at Superchargers several times over the past few years, with the most notable being the 2020 introduction of off-peak and on-peak Supercharging rates.

Live Pricing aimed to resolve some of the shortcomings of the off-peak and on-peak system, aiming to keep prices low and base them on current utilization instead of a set time when prices change.

Tesla explained the program when it launched:

“We are piloting on-peak and off-peak pricing based on live Supercharger utilization rather than estimations. The average price remains unchanged, but this live feedback loop improves accuracy. This corrects off-peak pricing during times of congestion, or on-peak pricing when Superchargers are plentiful. You’ll always see the price before your session begins, and prices do not change mid-session. A small-scale pilot is launching at 10 sites and will expand based on feedback and success.”

The initial rollout only included Superchargers in California, but it was not all of them, only a handful instead. Tesla was attempting to launch it in a very controlled manner by using a Pilot Program that would iron out all the early bugs and potential issues it might run into.

However, the company expanded the program by launching it at an additional 550 sites in California, New Jersey, New York, Florida, and Illinois:

Live pricing expanded to an additional 550 sites in California, New Jersey, New York, Florida and Illinois.

Currently the average price remains the same, peak prices are unchanged and will be paid by fewer sessions.

We’ll keep iterating on getting it right, based on impact and…

— Tesla Charging (@TeslaCharging) November 14, 2025

The price you pay is locked in when you plug in, so if the Supercharger station you are charging at becomes more crowded and the program bumps up the rates because of high utilization rates, you will still receive the cheaper price that was enabled when you arrived.

@teslarati With a pedestrian in the crosswalk, Tesla Full Self-Driving shows off its courtesy. Human drivers? Not so much. #tesla #teslafsd #fullselfdriving ♬ AMERICAN HEART – Maxwell Luke

News

Tesla Robotaxi was just spotted in a new state for the first time

The company is still attempting to expand and has explicitly stated that it plans to offer rides in Nevada, Arizona, and Florida in the near future. However, a pair of Robotaxi mules, fitted with LiDAR equipment for ground truth validation, was spotted in a new region for the first time.

Published

3 hours ago

November 17, 2025

Joey Klender

Credit: Tesla

Tesla Robotaxi mules were spotted in a new state for the first time as the company plans to expand the ride-sharing service to new areas of the United States in the coming months.

Tesla is offering Robotaxi rides in Austin already, where nobody is present in the driver’s seat except for on freeway routes. In California, Tesla refers to its platform as a ride-hailing suite, and a “Safety Monitor” is present in the driver’s seat at all times, but the vehicle operates on Full Self-Driving.

Over the weekend, Tesla Robotaxi mules were spotted in Enola, Pennsylvania, just about ten minutes from downtown Harrisburg:

🚨 Enola is about 10 minutes from Harrisburg, the State Capitol

Interesting tidbit of information as Tesla is testing Robotaxi close to PA’s legislators https://t.co/5rDlcYrV8w

— TESLARATI (@Teslarati) November 17, 2025

Enola is situated to the northwest of Harrisburg, Pennsylvania’s State Capitol. Interestingly, you’d expect Tesla to be testing these types of vehicles in other, more populated areas; Philadelphia is about two hours East, and Pittsburgh is about three hours west. State College is about an hour North of Enola.

Looking at the location of where the vehicles were spotted tells an interesting story, as Enola, located right outside of the State Capitol, could be a move to nudge legislators to consider looking at some of the laws that deal with driverless and autonomous vehicle operation.

Pennsylvania’s Act 130 of 2022 and subsequent guidelines permit the testing of driverless vehicles in the Commonwealth, but PennDOT requires a permit from Tesla or any other company that wants to operate a ride-hailing service in PA.

It’s also important to note that the cars could have simply been stopping through, as they were spotted at a Supercharger location along Interstate 81, which spans from Tennessee to New York.

It is not to say the vehicles are testing along the entire route, but likely a segment of it. The fact that they were spotted in Pennsylvania does bode well for Tesla’s expansion efforts moving forward.

@teslarati Tesla Full Self-Driving yields for pedestrians while human drivers do not…the future is here! #tesla #teslafsd #fullselfdriving ♬ 2 Little 2 Late – Levi & Mario