The Rivian R2, set for production in three years, is already garnering attention and excitement. During an auto industry conference, Rivian Chief Financial Officer Claire McDonough shared some new details about the R2’s price and reveal timeline.
McDonough revealed that the R2 will be officially unveiled in early 2024. She personally had the opportunity to spend time in the design studio, evaluating the clay models alongside the team. In a May Instagram Q&A session, Rivian CEO RJ Scaringe and design boss Jeff Hammond even teased the R2 clay model, which was concealed under a sheet.
From what little has been seen, it is clear that the R2 clay model shares a boxy profile with its larger sibling, the R1S SUV. However, the R2 is expected to be considerably smaller in size, roughly comparable to the Jeep Grand Cherokee.
Unlike Rivian’s other models, the R2 is aimed at a broader market with higher production volumes targeted. McDonough stated that the pricing for the R2 will range from $40,000 to $60,000, making it more accessible to a wider range of consumers. In contrast, the R2S starts at a higher price point of about $78,000.
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McDonough emphasized that a significant aspect of the R2’s development is refining the cost basis throughout manufacturing and the supply chain. As a startup with no product in 2018, Rivian had limited experience with setting up contracts with suppliers. However, with the R2, the company will be in a stronger position to negotiate more favorable terms.
Originally, the R2 platform was slated to enter production in 2025. However, in 2022, Rivian announced that the release of the smaller and more affordable model would be delayed by one year until 2026. This decision was made as part of Rivian’s larger plan to have six models in its lineup by 2025, as stated by Scaringe in 2019.
The construction of Rivian’s new vehicle plant near Atlanta, Georgia will be the production site for the R2. Despite facing some challenges, including the loss of certain tax breaks associated with the plant, the Georgia facility is expected to have an impressive annual capacity of 400,000 vehicles.
With the R2, Rivian is poised to expand its reach and capture a larger market share. The anticipation surrounding the R2’s reveal in 2024 is heightened by the fact that Rivian has already made a name for itself with its successful launch of the R1T pickup truck and R1S SUV.
As one of the pioneers in the electric vehicle (EV) industry, Rivian has garnered attention and investment, including support from major companies such as Amazon and Ford. Its focus on combining innovation and sustainability has set it apart, and the R2 is expected to continue pushing the boundaries of what is possible for electric vehicles.
Rivian’s commitment to creating high-quality, versatile, and sustainable vehicles is evident in its designs and manufacturing processes. The R2, with its anticipated affordability and size, represents a significant step in making electric vehicles more accessible to a wider audience.
With McDonough’s insights into the R2’s price range, reveal timeline, and production plans, the excitement and anticipation for Rivian’s next offering continue to grow. As the automotive industry undergoes a transformative shift towards electric mobility, Rivian is well-positioned to emerge as a key player, disrupting the market and driving the adoption of sustainable transportation.
