Rivian receives $827 million in incentives to expand Illinois facility, shares jump

-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.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

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