The race to complete electrification is heating up. While electric vehicle (“EV”) startups such as Tesla showed the world that it was possible to mass produce zero-emission electric cars, the nascent EV market is now seeing an influx of competition from startups such as Rivian Automotive Inc. (NASDAQ: RIVN) as well as established carmakers. Rivian recently went public in one of the largest IPOs in history and achieved a valuation of more than $100 billion. The California-based electric truck maker is now working on its first electric offerings, including the electric Rivian R1T pickup truck, which will hit the market next year.
Several states are hoping to lure these EV startups and automakers as manufacturing facilities can provide plenty of new jobs and raise the economic status of surrounding companies. It looks as if Rivian, which was the first EV company to market an electric pickup truck, is in high demand. The state of Georgia may soon put together an incentive package that will be the largest ever in state history…
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