Rivian plans to begin construction of the Social Circle facility in 2026, with production slated for 2028 on its next-generation R2 SUV and R3 crossover.
Rivian shares finished Tuesday with their biggest gain in nearly a month after the EV maker broke ground on a new Georgia plant that could eventually build 400,000 vehicles a year and create 7,500 jobs by 2030.
The stock closed up 5.3% at $14.32 on Tuesday, with the stock adding another 0.7% in after-hours trading.
Coming in two phases of 200,000 units each, the Social Circle plant will have an eventual capacity of 400,000 units. Building is expected to start in 2026 and production is scheduled for 2028. Rivian stated the plant will produce next-gen vehicles, including the midsize R2 SUV and R3 crossover.
The investment is described as multi-billion-dollar. An analysis commissioned by the company estimated more than 15,000 direct and indirect jobs tied to the project, including about 2,000 construction jobs, with over $1 billion in annual labor income once fully operational.
The development comes a month after Rivian said that it will close its factory in Normal, Illinois, for three weeks starting in September, as it ramps up for the launch of the R2 SUV in 2026.
The midsize version is expected to launch in the first half of 2026 and is projected to have a price tag of $45,000. Rivian plans to manufacture validation builds of the vehicle later this year at the Illinois facility, which can produce up to 215,000 units annually. The company said the Georgia plant will provide additional capacity for the program.
For the second quarter, Rivian reported revenue of $1.30 billion, up from $1.12 billion a year earlier, while its adjusted loss widened to $0.80 per share. It produced 5,979 vehicles and delivered 10,661 in the period. The company now expects 40,000 to 46,000 deliveries for 2025. The third quarter will be the “peak delivery period of the year,” said CFO Claire McDonough.
Rivian also guided for a wider 2025 adjusted core loss of $2 billion to $2.25 billion, versus the previous $1.7 billion to $1.9 billion.
On Stocktwits, retail sentiment for Rivian was ‘bullish’ amid ‘high’ message volume.
One user described Rivian’s shares as “one of the best technical setups in the market.”
Another user noted they liked the technical picture, adding that the chart suggested the stock could be headed toward the $17–$18 range in the coming weeks.
Rivian’s stock has risen 7.7% so far in 2025.
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