Electric vehicle startup Rivian gets $200 million in funding to recharge shuttered Normal plant

A new EV company has secured a $200 million loan to begin manufacturing electric vehicles at a former Mitsubishi factory in Illinois. The factory is expected to employ 1000 people and provide an economic boost for the local economy.

The Mitsubishi automobile plant in Normal, Ill., is seen in 2006. The plant, which closed in mid-2016, is now used by startup automaker Rivian Automotive. (John Smierciak / Chicago Tribune) Startup Rivian Automotive has secured a $200 million loan to begin producing electric vehicles at the former Mitsubishi plant in Normal, Ill., by 2020. While the Michigan-based company has yet to unveil a single vehicle design, the central Illinois city of Normal may have a lot riding on Rivian’s success, with potentially 1,000 new jobs in the works for the idled auto plant. Company founder and CEO RJ Scaringe […]

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