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EXCLUSIVE: ‘Rivian wanted what Georgia had’: How the Peach State became Rivian’s $5B match
In the Northern portion of Georgia, about 45 miles East of Atlanta, a 2,000-acre slice of land is covered in beautiful trees, hosting stunning landscapes of the rural sections of the Peach State. For several years, Georgia Economic Development Department Commissioner Pat Wilson has pitched this massive piece of beautiful real estate to various automakers, with nobody willing to bring another massive vehicle manufacturing facility to the heart of the Southeastern United States. That was until Rivian came to town.
“It was the perfect company for the perfect site.”
“We considered making it an OEM site,” Wilson, who has been the Commissioner of the State of Georgia’s Economic Development Department since November 2016, told Teslarati in an exclusive interview. He showed the property to Volvo and Toyota/Mazda, among others, over the past few years, but could not come to terms with them on the land. These large-scale, mass-market automakers were unwilling to join Kia, which has a massive $1.8 billion, 2.2 million square foot factory just miles away from the Georgia-Alabama border, to bring a sizeable manufacturing plant to Georgia. It just was not the right fit.
The right fit would eventually come along. While sifting through requests from various companies who were interested in the site and ultimately coming up with no buyers, Wilson knew the right company would eventually show up to build on the land. It would not end up being a car company with a long-standing history of successful automotive manufacturing. Instead, a company known as Rivian Automotive, which just rolled its first production units off of an assembly line in Normal, Illinois, and completed its first deliveries earlier this year, was requesting information. It would end up being the peach Georgia needed to secure its single most significant investment in state history — $5 billion, to be exact. “It was the perfect company for the perfect site,” Wilson said. “Rivian wanted what Georgia had.”
Rivian will build its next EV manufacturing plant in Georgia
CEO RJ Scaringe eventually drove around the 2,000-acre site in a Rivian R1T, plotting ideas and envisioning his young and scrappy company’s second U.S.-located automotive assembly plant. It is a beautiful landscape, and it needed to be preserved. “RJ was genuinely concerned about keeping the area environmentally stable. ” Wilson said. “You only have to look at their website and read a little bit of it to see that this is a company that cares about the world and sustainability. It was important to him to keep the area in its beautiful state.”
“RJ was genuinely concerned about keeping the area environmentally stable…It was important to him to keep the area in its beautiful state.”
Rivian wanted a property with a beautiful landscape, and Wilson said the company wanted to preserve its beauty and integrate its future automotive facility into the topography, which will hit its expected employment of 7,500 people in 2028. It also did not intrude on locals or nearby residents, who gave their blessing for the Economic Development Department to offer the area to large industries. “We don’t propose sites unless we are invited to do so,” Wilson clarified. Citizens welcomed projects with open arms, which solved half of the issue. The next was selling Rivian on the idea.
Selling Scaringe: Lofty Expectations
Rivian undoubtedly had its reservations, and its elevated expectations and accelerated timeline scared off plenty of other regions that were in the running for “Project Terra.” Like other high-tech electric vehicle startups, Rivian had lofty goals to begin production shortly after construction starts. Other states and areas might not have been as willing or able as Georgia to commit to the quick turnaround Rivian and Scaringe had described. Construction will begin in Georgia in Summer 2022, with production lines ramping up in 2024. Rivian hopes to have one of its non-negotiable terms met by launching production around two years after construction crews break ground. Evidently, Speed to Market was a real need for Rivian, and it needed the right State and the right team to make it happen.
CEO & Founder of Rivian, RJ Scaringe (Photo: Rivian)
Speed and efficiency of the construction process was not the only advantage Rivian saw with the site, however. The 2,000-acre land plot that the company locked up and subsequently announced during the company’s first quarterly earnings call as a publicly-traded entity last week also has a great location that could alleviate potential supply chain concerns. Sitting in the Interstate 20 corridor, the plant will have easy access to the Port of Savannah and the State’s 5,000 miles of railway to deliver manufacturing materials quickly. This solved logistical concerns relatively quickly.
There were other concerns too, however. Georgia has one of the lowest unemployment rates in the United States, which sounds like a good thing. Department of Labor statistics listed Georgia’s unemployment rate at just 2.8% for November 2021, the fourth-lowest rate federally, following Nebraska (1.8%), Utah (2.1%), and Oklahoma (2.5%). Interestingly and nearly counterintuitively, a low unemployment rate could actually bring some large-scale companies with sizeable employment needs problems down the road, and Rivian knew that Georgia had a reputation for keeping its people employed. Governor Brian Kemp kept the State’s workforce relatively operational through the COVID-19 pandemic in 2020 and 2021. “He created structure for the State,” which ultimately kept Georgia’s people at work, eliminating widespread unemployment and furloughs, Wilson said.
Georgia committed to Rivian’s needs and essentially removed its concerns regarding employment by securing plans for a Quick Start workforce training program facility at the future automotive plant. Quick Start is a State-sponsored program created in 1967 that provides customized workforce training for expanding industries. It runs through the Georgia Technical College System and gives workers free, hands-on, in-depth training that contributes to the state’s economy. Wilson said the program essentially lets taxpayer dollars be funded back into local communities through job training. It keeps people at work, it invests back into the citizens of the State, and most importantly, it prepares them for the job they are about to start. It is a highly successful and proven program that resulted in the first car ever built at the Kia Factory in West Point being fully operational. This is an event that does not happen often, as most vehicles that roll off of production lines as prototypes in a facility’s early days are usually a result of training and are not close to production quality.
Quick Start does more than give employees comprehensive, hands-on training. It also gives Georgians the opportunity to stay in their communities and develop them. Wilson was adamant that the Quick Start program has retained indescribable amounts of talent in Georgia, keeping the State’s workforce and some of its most brilliant minds local. “It gives people a chance to help their communities, but it keeps Georgia talent in Georgia. It benefits the taxpayers because we are investing back into our people,” Wilson added.
While Rivian’s project is the most recent to enter Georgia, Wilson certainly hopes it is not the last. “I hope more EV makers come to our State,” he said. “There will be more change in the automotive industry in the next ten years than there was in the last 100. These are jobs for the future, and we are looking for them because it is generational for the State. These plants will create jobs 60 years down the road.”
I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.
Elon Musk
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
SpaceX priced its historic IPO at $135 per share today, raising a record $75 billion.
SpaceX officially priced its initial public offering at $135 per share, offering 555,555,555 shares of Class A common stock and raising $75 billion in what is the largest IPO in stock market history. Shares are set to begin trading on the Nasdaq Global Select Market on Friday, June 12, under the ticker symbol SPCX. The previous record holder was Saudi Aramco’s 2019 offering at $29 billion, followed by Alibaba’s $22 billion offering in 2014.
At $135 per share and roughly 555.6 million shares, the implied valuation sits near $1.75 trillion, which would make SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap. Regular investors can request shares at the IPO price through Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE, though the deal is heavily oversubscribed and most retail allocations will be partial or unfilled. Once trading opens June 12, anyone with a brokerage account can buy SPCX on the open market.
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
The valuation is anchored primarily by Starlink. Starlink crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million new users per month, with the connectivity segment already posting a $1.19 billion profit last quarter. The offering also bundles in xAI following SpaceX’s all-stock merger earlier this year, adding Grok and the Colossus supercomputer to the investment thesis. As Teslarati reported, Starlink ended 2025 with $10 billion in revenue, a figure analysts project could reach $24 billion by end of 2026.
Wedbush analyst Dan Ives has been vocal in his support. “I think the time is right,” Ives said, adding that the offering expands the Elon Musk ecosystem rather than competing with Tesla. An average 12-month price target of $165 per share represents roughly 22% upside from the IPO price. Not everyone agrees – Motley Fool noted xAI is spending $1 billion per month playing catch-up to OpenAI and Anthropic.
Musk founded SpaceX in 2002 with a single stated purpose. “Elon founded SpaceX with a goal to change humanity, to make us a multi-planet species,” CFO Bret Johnsen said in the company’s retail roadshow video this week. Musk himself has been more direct: “We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”
Investor's Corner
Tesla unfolded its first European “folding Supercharger”
Tesla’s folding Supercharger just arrived in Europe and it changes how fast charging expands.
Tesla’s Folding Unit Supercharger has officially landed in Europe, with the company teasing a new installation in its effort for a broader rollout targeting major motorway rest stops across the European continent in Q3 2026. The arrival marks a notable shift in how Tesla is thinking about network expansion, moving from hardware performance alone to engineering the logistics chain itself.
While Tesla did not reveal the exact location for the new folding Supercharger in Europe, the photo shared on X heavily suggests that this maybe somewhere in Norway. Historically, whenever Tesla rolls out an entirely new infrastructure architecture in Europe, whether it was the original Supercharger stalls years ago or these brand-new modular V4 “Folding Units”, Norway is almost always the designated launch pad because of its unmatched EV adoption rate and supportive infrastructure
The Folding Unit, introduced in March 2026, is a factory pre-assembled V4 charging station built on an industrial hinge system mounted to a heavy-duty concrete base. The entire assembly arrives on site ready to unfold and connect. Tesla confirmed the units feature telescopic light poles specifically designed for easy transportation and fast on-site deployment, a detail that signals how carefully the logistics chain has been engineered alongside the hardware itself. The design allows 33% more stalls per delivery truck, cuts installation time roughly in half, and reduces overall deployment costs by more than 20% compared to traditional installations.
Tesla’s newest “Folding V4 Superchargers” are key to its most aggressive expansion yet
Tesla also noted telescopic light poles which provide benefits over traditional Supercharger installations that require fixed-height poles that are awkward to ship, slow to position on site, and often require separate crews and equipment to erect before charging hardware can even be staged. By engineering poles that compress for transit and extend on arrival, Tesla has removed one of the quieter bottlenecks in the physical deployment process. Every hour saved on a light pole installation is an hour redirected toward getting stalls energized. At scale, across dozens of new sites per quarter, those hours add up to a meaningful acceleration in how quickly a location goes from approved permit to serving its first customer.
Each Folding Unit pairs a single V4 power cabinet with eight charging posts. The V4 cabinet delivers up to 500 kW per stall for passenger vehicles and up to 1.2 MW for the Tesla Semi, supporting twice the stalls per cabinet at three times the power density of its predecessor. Longer cables make every new station immediately usable by non-Tesla vehicles, a priority as Tesla continues opening its network to Ford, GM, Rivian, Hyundai, Stellantis, and others.
As Teslarati reported when the Folding Unit was first unveiled, Tesla’s Gigafactory New York produced its final V3 Supercharger cabinet in March 2026 after more than seven years and 15,000 units, completing a full pivot to V4 production. The European arrival of the folding design is the next chapter in that transition.
Faster and cheaper deployment means Tesla can justify building in markets and corridors that were previously too expensive to serve, filling the coverage gaps that have slowed EV adoption outside major urban centers.
First Folding Unit Superchargers in Europe 🇪🇺 https://t.co/KNfYWJukkL pic.twitter.com/YR1udIpH1i
— Tesla Charging (@TeslaCharging) June 10, 2026
Tesla has stunned by gaining yet another approval for its Full Self-Driving suite in Europe, its second in two days and its fifth overall.
Belgium will be the latest country to allow Tesla owners to utilize FSD on public roads in Europe, joining a quickly growing list that started with the Netherlands, Lithuania, and Estonia.
On Tuesday, Denmark announced its approval of the FSD suite, which has now been followed by Belgium just one day later.
The country’s Minister of Mobility, Annick De Ridder, announced the approval on her X account, stating that she had just signed the approval of Tesla FSD. It now goes to the country’s homologation department for the last step of the approval process.
De @Tesla community houdt hier al geruime tijd de vinger aan de pols over de toelating voor de FSD-technologie op onze Vlaamse en Belgische wegen.
Uit waardering voor jullie niet-aflatende interesse (en aanmoediging 😉), krijgen jullie hierbij de primeur: ik heb net de toelating… pic.twitter.com/Yrps4OHTj8— Annick De Ridder (@AnnickDeRidder) June 10, 2026
The Belgian approval is one of mighty importance because it truly shows how quickly countries in Europe could greenlight the FSD suite consecutively. Approvals are already coming in relatively quickly, which is a great sign.
Perhaps the next big development that could come from FSD approvals in Europe is an approval from a country like England, Italy, France, Spain, or Germany. It would be something to see how FSD would perform in a major European metro, such as London, Barcelona, Madrid, Paris, Rome, or Berlin.
Getting Full Self-Driving in Spain and England will be such huge milestones for Tesla. I am so excited to see how FSD performs in Madrid, Barcelona, and London, specifically.
The ultimate test will always be Mumbai or New Delhi. Excited for India’s eventual approval! https://t.co/paw9Ch1qmL pic.twitter.com/9RdDERVSSJ
— TESLARATI (@Teslarati) June 9, 2026
Full Self-Driving does an excellent job of roaming around major U.S. cities like New York and Los Angeles, but other high-profile international cities of significance would truly mark a line in the sand for Tesla, which can simply enable any vehicle in its customer-owned fleet to run FSD with the correct approvals.
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
Tesla unfolded its first European “folding Supercharger”
