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May 2 (Reuters) – Rivian Automotive said on Thursday it has received $827 million in incentives from the State of Illinois to expand operations at its Normal facility in the state.
The company’s shares rose nearly 7% in afternoon trade. It had said it would delay construction of a second factory in Georgia.
Its less expensive R2 model unveiled in March would be produced at its first plant in Normal, Illinois, it had then said. (Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)
