03 May 2022 | Rivian Wins $1.5 Billion Factory Incentives

May 03, 2022, 11:05 AM

On the podcast today:
• Rivian Wins $1.5 Billion in State Incentives for Georgia Plant
• Rivian's Ripening: EV automaker begins building Canadian service network
• Europe can secure enough battery metals for an EV-driven future | Automotive News Europe
• Enough nickel, lithium for 14 mln EVs in 2023 - European climate group
• Tesla says it will turn Shanghai into 'the world’s largest vehicle export hub' with new factory
• Elon Musk Says World Will Choose Batteries Over Hydrogen
• Volvo Heavy Duty Electric Truck Lineup Now Officially On Sale
• GM's Barra: "We can reenter Europe as an all-EV player."
• China EV Giant BYD Sales Hit Record High, Defying Covid Lockdowns
• Volkswagen Subsidiary Skoda’s Electric Enyaq Might Be Too Successful

Show #1454

Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily, you trusted source of EV information. It’s Tuesday 3rd May, it’s Martyn Lee here and I go through every EV story so you don't have to.

RIVIAN WINS $1.5 BILLION IN STATE INCENTIVES FOR GEORGIA PLANT

- $1.5 billion in state and local incentives to build a massive plant near Atlanta, bolstering the company’s production efforts despite local resistance to the project.

- the biggest in Georgia history, consists of tax credits, abatements and subsidies like site preparation and job training support from the state, according to a statement by the Georgia Department of Economic Development on Monday.

- Rivian will get $476 million in statutory tax credits if it fulfills its promise to create a total of 7,500 jobs by the end of 2028. If it doesn’t, there are clawbacks to protect the taxpayer, said Pat Wilson, Georgia’s commissioner of economic development. Georgia is putting in another $288 million in discretionary spending in the form of site preparation and job training programs. Tax abatements from the four counties hosting the plant make up the rest of the package -- about $700 million over 25 years.

- Rivian’s investment would be the biggest economic development project in Georgia since at least World War II.

- Rivian has pledged to create more than 7,500 jobs, with the eventual goal of producing 450,000 vehicles annually at the site. Rivian will pay workers an average annual wage of $56,000, and the project will create nearly 8,000 indirect jobs, according to the state.


RIVIAN'S RIPENING: EV AUTOMAKER BEGINS BUILDING CANADIAN SERVICE NETWORK

- Rivian has started building its service network in Canada as the electric vehicle maker prepares to deliver its first vehicles in the Canadian market this summer.

- Automotive News Canada reported Friday that Rivian has begun recruiting staff for its Vancouver service centre, though it would not elaborate on how many services centres it planned for Canada.

- Rivian touts a network of Rivian-owned and Rivian-certified independent collision centres that handle bodywork and exterior damage.

- R1T and R1S vehicles are scheduled to be delivered to Canadian customers this July.


EUROPE CAN SECURE ENOUGH BATTERY METALS FOR AN EV-DRIVEN FUTURE | AUTOMOTIVE NEWS EUROPE

- Europe's dependence on Russian oil puts $285 million a day in Putin's pocket. If not Russia, we will be reliant on autocratic regimes such as Saudi Arabia or Iran unless we drastically cut our oil consumption.

- Julia Poliscanova is senior director for vehicles and e-mobility at Transport & Environment.

- Some claim that ramping up electrification in the 2020s is not possible because there are not enough metals such as lithium available to build the lithium-ion batteries that propel them.
A new T&E report, out today, shows that wrong political priorities, not raw material shortages, are the problem.

- The maximum volumes of battery quality nickel (nickel sulfate) and lithium (both hydroxide and carbonate) expected to be mined and refined globally until 2025 are enough to produce 14 million electric cars already next year.

- This is 55 percent more than the amount of EVs forecast by LMC Automotive to be sold globally in 2023.

- Even if the raw materials market becomes tighter by 2025, 21 million battery electric cars can be produced in that year, still almost 50 percent more than market forecasts.

- This shows that the electric car market is not constrained by the supply of raw materials

- Rather, it is the European car CO2 regulation that dictates how many EVs automakers make.

- China and its companies are in a race to secure global lithium assets and expand battery production at home and abroad. Meanwhile the U.S. has invoked the Defense Production Act to boost the supply of critical raw materials.

- Instead, Europe is flying to Qatar and Iran and is using its diplomatic muscle to secure oil and gas.


ENOUGH NICKEL, LITHIUM FOR 14 MLN EVS IN 2023 - EUROPEAN CLIMATE GROUP

- Prices of EV battery materials have soared over the last year, with battery-grade nickel breaking fresh records after the invasion of Ukraine as Russia is a major nickel producer.

- Some analysts have warned of short-term battery-supply bottlenecks as the auto industry rapidly accelerates production of zero-emission cars, which could then be followed by a glut as a plethora of mining and battery plant projects come online.


Tesla’s second assembly line near Shanghai Gigafactory to add 450,000 units of annual capacity


TESLA SAYS IT WILL TURN SHANGHAI INTO 'THE WORLD’S LARGEST VEHICLE EXPORT HUB' WITH NEW FACTORY


ELON MUSK SAYS WORLD WILL CHOOSE BATTERIES OVER HYDROGEN


VOLVO HEAVY DUTY ELECTRIC TRUCK LINEUP NOW OFFICIALLY ON SALE


GM'S BARRA: "WE CAN REENTER EUROPE AS AN ALL-EV PLAYER."


CHINA EV GIANT BYD SALES HIT RECORD HIGH, DEFYING COVID LOCKDOWNS


VOLKSWAGEN SUBSIDIARY SKODA’S ELECTRIC ENYAQ MIGHT BE TOO SUCCESSFUL


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