Latest news with #Rivian
Politico
6 hours ago
- Business
- Politico
Pritzker on Dems: ‘We've lost our way'
Good Tuesday morning, Illinois. And h/t to the music lovers in Reader Digest. TOP TALKER TESTING THE WATERS: Gov. JB Pritzker sounded like a candidate road-testing a stump speech Monday at the Aspen Ideas Climate conference in Chicago. 'We've lost our way,' Pritzker said of Democrats' recent messaging. 'Let's not walk away from Civil Rights because we lost an election. We haven't talked enough about Civil Rights. We haven't talked enough about health care,' he told a crowd of global climate leaders and thinkers at the Salt Shed. During the Q&A with ABC News' Linsey Davis, Pritzker railed against the insurance industry's control on health care and called out the $7.25 federal minimum wage as a national disgrace. 'Why are Democrats not out there arguing for raising the minimum wage?' he asked, prompting applause from the crowd. 'What a great issue for Democrats.' Democrats reclaiming the populist mantle is a message Pritzker is likely to use on the campaign trail running for his third term. And it's a message that could carry through to 2028, too. On Monday, Pritzker toggled between policy and politics during the half-hour 'fireside chat.' He recounted legislative wins — like Illinois tripling its renewable energy output since 2021 — and painted a vision of a future where clean tech and climate action are economic drivers, not burdens. 'We're proving out the idea that you can accelerate progress even without the federal government's engagement,' he said, referring to the Trump administration's efforts to pull back on federal programs. Illinois is still achieving wins, Pritzker said, in spite of 'disturbing' federal rollbacks. He pointed to Rivian's electric vehicle plant in Normal and its thousands of new jobs as a 'proof point' of how green energy and middle-class economics aren't mutually exclusive. Everything's cyclical. Pritzker also looked ahead, saying, 'the nightmare … will end in three-and-a-half years.' RELATED: New Rivian supplier 'Adient' set to bring dozens of jobs to town of Normal, by 25 News Now's Imani McClay THE BUZZ FIRST IN PLAYBOOK: The race for Cook County's 12th District commissioner seat is already taking shape with Elizabeth Granato, currently head of the Cook County's Bureau of Asset Management, officially jumping in. In her campaign announcement, Granato struck a defiant tone. 'Cook County is on the front lines of the battle against the Trump MAGA Republican effort to take away health care from those who need it most, raise the cost of living and let the wealthiest corporations and billionaires dump their tax obligations on the middle class,' she said in a statement. 'I'm running to make sure nobody is left behind in Cook County.' Granato is positioning herself as a progressive standard-bearer in a district up for grabs after news Monday that Commissioner Bridget Degnen won't seek reelection. Degnen has thrown her support behind Cat Sharp, chief of staff to Ald. Andre Vasquez in the 40th Ward and before that Degnen's outreach director. Also considering a run: Jose 'Che-Che' Wilson, a noted LGBTQ+ policy advocate and community leader, is exploring a bid to replace Degnen, too. Granato, a Latina and the first in her family to graduate from college, is leaning into her personal story as she courts Democratic voters. She's already been endorsed by the Bricklayers & Allied Craftworkers ADC 1 Illinois and Ironworkers District Council of Chicago and Vicinity. And Granato has the backing of her husband — state Sen Ram Villivalam. Look for Granato to file more than $200,000 in Illinois State Board of Elections filings today. Degnen's announcement that she won't seek reelection comes on the heels of Commissioners Kevin Morrison and Donna Miller also announcing their exits from their county jobs as they seek higher office. If you are Bridget Degnen, Playbook would like to hear from you! Email: skapos@ WHERE'S JB At Chicago's Union Station at 1 p.m. to deliver remarks for the site's centennial celebration honoring 100 years of service WHERE's BRANDON At Navy Pier at 9 a.m. for the Chicago Police Department recruit graduation and promotion ceremony — At Malcolm X College at 12:30 p.m. for People with Disabilities' Disability Pride Celebration — At City Hall at 3 p.m. to meet with reporters — At Salt Shed at 6:15 p.m. for the Aspen Climate: Chicago conference Where's Toni At La Rabida Children's Hospital at 10 a.m. to announce $25 million in community safety funding Have a tip, suggestion, birthday, new job or a (gasp!) complaint? Email skapos@ BUSINESS OF POLITICS — Endorsement: Cook County Board President Toni Preckwinkle endorsed Robert Peters on Monday in his bid for Congress in the 2nd District. The Tribune's Dan Petrella has details. — George Danos, the Champaign County auditor, who's running for state comptroller, says his research shows he'd be the first CPA to serve as comptroller of Illinois if he won the seat — and the first openly gay statewide office holder, too. The Elgin native says his focus is on transparency. 'To keep the state on a sound financial basis, the legislature and governor must be assisted by honest, direct and timely financial reporting,' Danos said in a statement. — Patrick Cortesi, chair of the McLean County Democrats and a longtime grassroots organizer, has launched his campaign for Democratic State Central Committee in Illinois' 16th District. Current Committeeman John Daniel is not seeking reelection and is endorsing Cortesi for the position. — IL-09: Another look at who's leading the money race, by the Daily Herald's Russell Lissau THE STATEWIDES — Gov. JB Pritzker joins letter demanding release of federal education funding, with billions still in limbo: 'The grants, already appropriated by Congress, were abruptly frozen the day before they were set to be disbursed July 1. The paused funding included $241.8 million for Illinois schools and community colleges,' by the Tribune's Kate Armanini. — Illinois joins suit to block Trump administration from barring undocumented immigrants from public benefits, by the Sun-Times' Violet Miller — Following state rep's encounter, Pritzker signs 'squatter bill' into law, by Capitol News' Ben Szalinski — Former ComEd CEO says she's innocent, even as judge gives her 2 years in prison, by the Sun-Times' Jon Seidel — COLUMN: Illinois ranks last in financial reporting, by the News-Gazette's Jim Dey CHICAGO — Police Department brass accused Mayor Brandon Johnson's budget office of 'systemically' delaying paychecks: The mayor's office says it was an 'administrative' error that has since been rectified, by the Tribune's Alice Yin. — Online sports betting, legal video gaming could be cash cow for Chicago, alderpersons say: 'But Chicago would only benefit if it demands a greater cut of video gaming tax revenue from Springfield, city officials say,' by the Sun-Times' Fran Spielman. — Steven Montano guilty of first-degree murder in killing of CPD Officer Andres Vasquez Lasso, by the Sun-Times' Sophie Sherry — City leaders, including the mayor, call on state lawmakers to act to unmask ICE agents, by the Block Club's Francia Garcia Hernandez — City Council v. Chicago Cops in 16-Inch softball: 'Despite the Police Knights batting opposite-handed, the City Council softball team showed their legislative skills don't transfer so easily to the diamond — though they still eked out a questionable win,' by the Block Club's Noah Asimow. — American Airlines drops federal lawsuit, escalates Chicago O'Hare gate fight in local court, by View From The Wing's Gary Leff TAKING NAMES — NEW FELLOWS: In the often-fractured world of Illinois politics, the Edgar Fellows Program stands out as a rare and hopeful experiment in bipartisan collaboration. Next month, 41 new public policy leaders — from lawmakers to nonprofit directors — will gather in Urbana-Champaign for a weeklong crash course in ethical, solutions-driven leadership. Launched in 2012 by former Gov. Jim Edgar, the program pushes civility over conflict and promotes bridging political, racial and regional divides. 'Though they each have their own unique life experiences, they find out that they have more in common than they have that separates them,' Edgar said in announcing the latest cohort. Among this year's participants: state Sens. Mary Edly-Allen, Suzy Glowiak Hilton, Darby Hills and Craig Wilcox; state Reps. Harry Benton, Mary Beth Canty, Brandun Schweizer and Nabeela Syed; Chicago Alds. Ruth Cruz and Timmy Knudsen; Chief of Staff to the Illinois Speaker Clayton Harris III; Climate Jobs Illinois Executive Director Joe Duffy (the former campaign manager for Attorney General Kwame Raoul); Illinois Chamber CEO Lou Sandoval; Validus co-founder Nicholas Klitzing (the former Illinois GOP executive director); and Intersect Illinois Comms Director Amanda Vinicky. Here's the full list — Darren Walker, the outgoing president of the Ford Foundation, is joining the Obama Foundation's board of directors on Nov 1. — Bill Adair is joining the line-up of the Printers Row Lit Fest in September. Adair, who won a Pulitzer for his work at PolitiFact, is among seven Pulitzer Prize winners at the event. Reader Digest We asked what album you'd take with you on a desert island. Denise Barreto: 'Black On Both Sides' by Mos Def (also known as Yasiin Bey). Josef Michael Carr Jr.: 'Songs in the Key of Life' by Stevie Wonder. David Eldridge: ''We Are' by Jon Batiste. When I am down, I place this album on my record player to be uplifted.' Mike Gascoigne: 'Stand for Myself' by Yola. John Howell: 'Herb Alpert's 'Whipped Cream' (a masterpiece).' Robert Kieckhefer: 'Jazz Samba' by Stan Getz and Charlie Byrd. David Kohn: 'The Power and the Glory by Gentle Giant.' Joan Pederson: ''John Prine,' his first.' Fred Lebed: 'The Burning Spear.' Ron Michelotti: 'Tapestry.' Marilynn Miller: 'Any album of Frank Sinatra's that includes 'My Way.' It's my theme song.' Jeff Nathan: 'Big Boat' by Phish. Timothy Powell: 'The only album that matters by 'The Only Band That Matters': 'London Calling' by The Clash!' Alison Pure-Slovin: 'Sounds of Silence' by Simon and Garfunkel. Elliot Regenstein: 'The new EP 'Vacation Home' from the Illinois-based band North Grove!' Ebony Scott-Anderson: ''The Lion King: The Gift by Beyoncé.' It's full of hope and reminders of one's inner strength. Something I'd need to survive until I'm rescued.' Scott Simon: 'Erik Satie's 'Gymnopedies.' Moves from pensive to haunting to joyful and back again.' Steve Smith: 'Rubber Soul.' John Straus: 'Tchaikovsky Piano Concerto recording featuring Arturo Toscanini leading the NBC Symphony Orchestra with Vladimir Horowitz soloist.' Michael Strautmanis: 'Prince's 'Sign O' the Times' — an experimental narrative from our generation's Mozart.' Matt Sullard: ''Reggatta de Blanc' by The Police, just to play 'Message in a Bottle' on repeat unironically.' Wendi Taylor Nations: 'Guns N' Roses' 'Appetite for Destruction' because I grew up with Axl Rose and Izzy Stradlin and 'Sweet Child O' Mine' reminds me of home.' Timothy Thomas: 'Stevie Wonder's 'Songs in the Key of Life,' the first album I bought with hard-earned paper-route money.' Patricia Ann Watson: 'Stevie Wonder's 'Journey Through The Secret Life of Plants.'' Judith Weinstein: 'Talking Book' by Stevie Wonder. Steve Weiss: 'The Tour de Force by Brian Wilson.' NEXT QUESTION: If you had to filibuster for 12 hours straight, what topic could you ramble about? THE NATIONAL TAKE — GOP megabill's final score: $3.4T in red ink and 10 million kicked off health insurance, CBO says, by POLITICO's Jennifer Scholtes, Robert King and Benjamin Guggenheim — Frustration and fear ripple through NPR and PBS affiliates, by POLITICO's Aaron Pellish and Irie Sentner — Why Ross Perot caught the zeitgeist — and Elon Musk might not, by John Ganz for POLITICO DELEGATION — Congresswoman Robin Kelly joined in introducing the Gun Safety Incentive Act. The bill promotes safe gun storage practices by providing a federal tax credit for individuals who purchase certified firearm safes and secure storage devices. IN MEMORIAM — Veteran Chicago defense attorney Thomas Anthony Durkin dies at 78, by the Tribune's Jason Meisner TRIVIA MONDAY's ANSWER: The Forum in Chicago's Bronzeville neighborhood was known for its large ballroom and being a go-to place for Jazz and Blues music. TODAY's QUESTION: Which of August Wilson's 'Pittsburgh Cycle' plays is actually set in Chicago? Email your answer to: skapos@ HAPPY BIRTHDAY Former Illinois Gov. Jim Edgar, lobbyist and former Ald. Joe Moore and lieutenant governor's Comms Director Taylor Brown -30-
Yahoo
7 hours ago
- Automotive
- Yahoo
Why Is Wall Street So Bullish on Rivian? Here's the $1 Trillion Reason.
Key Points Tesla -- the pioneer of EV makers -- has seen its valuation rise to $1 trillion. Its upstart rival, Rivian Automotive, is preparing to replicate that success. 10 stocks we like better than Rivian Automotive › The average price target among Wall Street analysts for Rivian Automotive (NASDAQ: RIVN) stock is $14.72 per share. That suggests around 16% in additional upside potential over the next 12 months. Some analysts, however, are even more bullish. This week, Evercore analyst Chris McNally reiterated his "buy" recommendation on the stock, with an $18 price target. That's nearly 40% in potential near-term upside! What is making analysts so bullish? The answer is a $1 trillion opportunity. Who will be the next Tesla? When it comes to electric car stocks, Tesla remains king. Its market capitalization sits at roughly $1 trillion. Rivian, meanwhile, is valued at just $16 billion -- less than 1% of Tesla's size. There's a lot bundled into Tesla's market value. It has, for example, a distributed energy business that few (if any) competitors can match. Plus, it has a fledgling robotaxi division that some analysts think will be a $1 trillion opportunity on its own. But the bulk of Tesla's revenue and profits today still come from manufacturing EVs. That makes Tesla's valuation a north star for nearly every other EV maker. With the right growth strategy, Tesla has proven that a $1 trillion valuation is possible. How close is Rivian to achieving a $1 trillion valuation? On paper, the company is years, if not decades, away. But the right pieces are being put into place. Early next year, the company will begin producing three new vehicles -- all priced under $50,000. We also got news this week that Rivian is making progress on its Georgia plant, which will support massive scaling of these new models. When Tesla released its affordable vehicles -- the Model Y and Model 3 -- sales skyrocketed. Today, those two models account for more than 90% of its vehicle revenue. Rivian has the chance to replicate this success over the next three years: the biggest reason Wall Street remains so optimistic. Should you buy stock in Rivian Automotive right now? Before you buy stock in Rivian Automotive, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Rivian Automotive wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Why Is Wall Street So Bullish on Rivian? Here's the $1 Trillion Reason. was originally published by The Motley Fool
USA Today
17 hours ago
- Automotive
- USA Today
Rivian upgrades navigation with Google Maps for R1S and R1T
Fresh off major upgrades to its R1S SUV and R1T pickup, Rivian is now set to launch a software update of its onboard navigation system to include Google Maps data — both for the new vehicles it's producing and its existing customer cars. This isn't simply Google Maps like the app on your phone, however. Leveraging Google's Automotive SDK, Rivian has, in effect, overlaid its existing navigation experience over that of Google Maps, taking advantage of the internet giant's superior "routing, estimated time of arrivals, traffic updates, search capabilities and satellite imagery," as Rivian put it, in order to further augment its own in-house "EV-friendly navigation features." Automotive technology: Apple CarPlay Ultra faces automaker backlash over data and dashboard control In other words, Rivian's navigation system will now blend Google's superior mapping capabilities with its proprietary charging information, including estimated range and battery capacity remaining at your destination, route planning, real-time charging info and more. In addition, Rivian skins the whole interface in its own design, a new version of which will also debut with the Google Maps update. Tesla prices in 2025: From $36K to $250K, here's what you'll actually pay Even better, Rivian says the update will extend to its Rivian Mobile App (a 2025 MotorTrend Best Tech award winner), which benefits from Google-like photos and descriptions of searched destinations, as well as satellite map views and real-time traffic data. As before, users can send trips and navigation destinations from the app to their Rivians, and now they'll be able to use the "share" function via Google Maps to do the same. The rollout of the new Google-augmented system is imminent — Rivian says it'll begin doing so via an over-the-air update for every all-electric R1S SUV and R1T pickup it has sold to date, and it will come already equipped with every new model it sells. Photos by MotorTrend Staff, manufacturer
Globe and Mail
19 hours ago
- Automotive
- Globe and Mail
Better EV Stock to Buy Right Now: Nio vs. Rivian
Two of the biggest names in the electric vehicle (EV) world are quietly taking opposite routes to electric domination. In this deep dive, I explore how Nio (NYSE: NIO) and Rivian (NASDAQ: RIVN) are redefining what EV success could look like. If you're an investor eyeing the future, you won't want to miss this. Stock prices used were the market prices of July 11, 2025. The video was published on July 21, 2025. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Should you invest $1,000 in Nio right now? Before you buy stock in Nio, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nio wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Rick Orford has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Yahoo
a day ago
- Automotive
- Yahoo
Auto seat supplier opening $8 million Normal facility near Rivian's EV plant
As Rivian gears up to build the new midsize R2 SUV next year, the EV automaker is also building up its supply chain near its Normal plant to assist increased production. Adient, a leading global manufacturer of auto seats, is investing more than $8 million to repurpose an existing 85,000 square-foot-warehouse adjacent to the Rivian plant to make front and rear seats for the EVs. The Plymouth, Michigan-based company plans to create at least 75 new jobs within four years at the plant to qualify for a state tax credit, with an estimated value of about $4 million. 'Adient's new facility in Normal is a critical investment in our state's growing EV ecosystem and supply chain,' Gov. JB Pritzker said in a news release Monday. 'With yet another global company choosing to locate in Illinois, we're creating more jobs, opportunities and bolstering economic development for the people of Illinois.' Beyond proximity to Rivian's plant, Adient was incentivized to build its first Illinois facility through the state's Reimagining Energy and Vehicles In Illinois (REV Illinois). The 2021 legislation offers up to a 75% credit on state income tax for EV manufacturers for meeting agreed upon investment and job creation targets. In May, Rivian announced it is building a separate $120 million supplier park near its Normal plant to support increased production. The 1.2 million-square-foot supplier park is expected to add an additional 100 jobs to the expanding production operation of the California-based EV automaker, which manufactures its entire fleet in the college town about 130 miles south of Chicago. Construction on the supplier park is under way and expected to be completed in 2026, in time for the rollout of the much-anticipated R2. Adient will not be in the new supplier park. 'Having suppliers like Adient located near our plant in Normal will be a key enabler when we increase production next year to build R2,' Carlo Materazzo, Rivian's vice president of manufacturing operations, said in the news release. 'Integrating suppliers on site reduces costs and improves manufacturing efficiency.' Rivian began building its full-size electric R1T pickup truck, R1S SUV and commercial delivery vans in a former Mitsubishi auto plant on the outskirts of Normal in September 2021. In March 2024, Rivian revealed that the R2 will also be made in Illinois, putting plans to build a $5 billion Georgia plant on hold. Down the road, Georgia is still integral to Rivian plans, however. 'Since announcing the pause in construction of our Georgia site, we've continued development activities necessary for a rapid transition to vertical construction in 2026, ahead of the start of production in 2028,' a Rivian spokesperson said in a statement Monday. In addition, Rivian announced last week it plans to open an East Coast headquarters in Atlanta later this year, with office expansion slated for 2026 as construction at the new Georgia manufacturing site accelerates. Backed by $827 million in state incentives, Rivian is also expanding its 4.3 million-square-foot auto plant in Normal by an additional 1.1 million square feet and creating more than 550 assembly jobs over five years to build the midsize R2 SUV, which is expected to begin rolling off the production line in 2026. Rivian is seeking to lure new buyers at price points well below its first-generation SUV and truck, which cost upward of $80,000. The R2 will be priced starting at $45,000. The Normal plant had about 7,000 assembly workers in April 2024, when it streamlined operations and went from three to two shifts. Rivian had 14,861 employees across North America and Europe at the end of 2024, but declined Monday to update the current number of employees in Normal. Last year, Rivian produced 49,476 and delivered 51,579 EVs from its Normal plant, with slightly lower production guidance at 40,000 to 46,000 vehicles for 2025. During the second quarter, Rivian built 5,979 vehicles at its Normal plant and delivered 10,661, with production limited by retooling in preparation for the rollout of 2026 model year vehicles, which are expected to launch later this month, the automaker said. Meanwhile, customers looking to buy an EV may be motivated to take the plunge this summer by President Trump's 'One Big Beautiful Bill,' which was signed into law July 4. The bill eliminates the $7,500 federal tax credit on new EVs and $4,000 on used EVs as of Sept. 30. rchannick@ Sign in to access your portfolio
