Construction on the 1.2 million-square-foot supplier park is underway and expected to be completed in 2026, in time for the launch of the much-anticipated Rivian R2.

Rivian said on Monday it would invest $120 million to build a supplier park near its plant in Illinois, as the electric vehicle-maker gears up to produce its smaller, more affordable R2 SUVs next year.

Rivian will get $16 million in state incentives for the supplier park, which includes a $5 million tax benefit over 20 years, as well as a capital grant.