Rivian Automotive, LLC has submitted a proposal to the Foreign-Trade Zones (FTZ) Board requesting permission to engage in production activities at its facility in Normal, Illinois. The company plans to produce electric vehicles and related components while taking advantage of customs duty exemptions for foreign materials used in exports. By utilizing FTZ procedures, Rivian can choose favorable duty rates for certain components used in domestic sales and avoid duties on waste materials. Public comments on this proposal are welcomed until March 8, 2021.
Simple Explanation
Rivian wants to make electric cars in Illinois and is asking for special permission to pay less money on some parts they bring in from other countries. They're also asking people what they think about this plan until March 8, 2021.