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.
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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 […]
