Car Maker Investing $5 Billion Dollars in Illinois Plant

I don't know about you, but I'm pretty happy when I find that I had $50 that I didn't know about. The concept of $5 billion dollars is beyond my math comprehension. That's the number that a car maker is reportedly investing in a Illinois plant.

I saw this news shared on the Illinois sub-Reddit today about what Volkswagen invested in a plant in Normal, Illinois.

VW invests $5B in Rivian, Forms Joint Venture
byu/jtm961 inillinois

The Rivian plant is a massive facility and will apparently be the benefactor of this huge Volkswagen investment.

The investment reportedly will involve a partnership for the software and architecture of electric vehicles and their manufacturing process. According to the report shared on Reddit, it's not an immediate $5 billion dollar influx of cash, but $1 billion that will be effective December 1, with other larger investments to follow. However, there are apparently regulatory approvals before this all becomes final.

The belief is that this investment in such a huge Illinois plant will be a positive economic impact for Normal and Illinois as a whole possibly leading to new employment opportunities as this partnership between Rivian and Volkswagen grows.