Ford-backed EV manufacturer Rivian is set to build a £1bn UK factory near Bristol, according to reports.
Sky News has stated the electric adventure vehicle producer, which also counts Amazon as a stakeholder, is in talks with the UK government to build its first car production facility outside the U.S.
A 616-acre site near Bristol is being considered for the Rivian plant, but talks are said to not be in an advanced stage as there is competition from rival proposals from Germany and the Netherlands.
The deal would likely include financial support from the UK taxpayer, with investment expected to be worth well over £1bn.
It follows news that Rivian closed a US$2.5bn (£1.8bn) funding round at the end of July, bringing its total funding to US$10.5bn (£7.5bn).
“As we near the start of vehicle production, it’s vital that we keep looking forward and pushing through to Rivian’s next phase of growth,” said Rivian CEO, RJ Scaringe.
“This infusion of funds from trusted partners allows Rivian to scale new vehicle programs, expand our domestic facility footprint, and fuel international product rollout.”
