Rivian Automotive Inc (NASDAQ: RIVN) said on Wednesday it plans to install a large-scale wind turbine at its Normal, Illinois, manufacturing campus that will power its R1 vehicles for their first charge.
What Happened: The turbine will have a capacity of at least 2.8 megawatts and can churn nearly 10 million kilowatt-hours of electricity a year – enough to power 890 average U.S. homes.
The wind turbine project supports Rivian’s long-term renewable goal of lowering its carbon footprint.
The turbine could avoid around 177,000 tons of carbon dioxide equivalent emissions – the equivalent of taking roughly 34,000 internal combustion engine vehicles off the road for one year.
“While we’re working hard to help electrify transportation, we’re also pushing to accelerate the shift to carbon-free electricity for all," said Andrew Peterman, Rivian Director of Renewable Energy.
Rivian has partnered with Virginia-based renewable energy company Apex Clean Energy to develop and construct the turbine.
See Also: Elon Musk Sees These 2 Prominent EV Makers Headed Toward Bankruptcy
Why It Matters: Rivian has pledged to reach net-zero carbon emissions by 2040, 10 years ahead of the Paris Agreement. The company has also set ambitious internal targets along the way.
Rivian is among a host of automakers that are setting aside billions of dollars to make electric vehicles and achieve net-zero emission targets.
Price Action: Rivian closed 1.75% lower at $28.6 on Wednesday, according to data from Benzinga Pro.
