Rivian Automotive (NASDAQ:RIVN) stock is up on Wednesday after the company announced it’s preparing a Georgia manufacturing facility.
A press release from the company reveals it has hired Anthony Sanger to act as the first Vice President of Facilities. This would see him working at the planned Stanton Springs North location.
Sanger said the following about the facility in a news release:
“I couldn’t be more excited to join Rivian as it prepares for construction of its second flagship plant here in Georgia. With this all-new manufacturing facility, we will launch and build products efficiently and with an eye toward sustainability—all while working to serve surrounding communities and provide thousands of meaningful and good-paying jobs for Georgians.”
What RIVN Stock Investors Need to Know
While this hire puts Rivian one step closer to the creation of its Georgia manufacturing facility, it’s still a ways off from operating. The company is currently set to break ground on the constriction of the facility sometime in 2023 or early 2024.
Outside of this, investors will also want to keep an eye on RIVN stock next week. The company is set to release its next earnings report on May 9, 2023. If the results are positive, this could turn into a beneficial catalyst for shares.
RIVN stock is up 1.2% as of Wednesday morning.
There’s more stock market news traders will want to keep an eye on below!
We’ve got all of the latest stock market coverage traders need to know about on Wednesday! A few examples include details on the upcoming Kenvue initial public offering (AKLI) stock up and the acquisition news sending Ruth’s Hospitality Group (NASDAQ:RUTH) stock higher today. You can find all of this info at the following links!), what has Akili (NASDAQ:
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.