Although the Rivian R2 is still three years away from hitting the production line, details about this upcoming vehicle are beginning to emerge.
During an auto industry conference, Rivian’s Chief Financial Officer, Claire McDonough, engaged in a conversation with Emmanuel Rosner from Deutsche Bank, shedding light on the R2’s pricing and reveal timeline.
McDonough disclosed that the R2 is set to be unveiled in early 2024. Having personally spent time in the design studio, she evaluated the clay models alongside the team. Back in May, Rivian CEO RJ Scaringe and design boss Jeff Hammond provided a glimpse of the R2 clay model, covered under a sheet, during an Instagram question and answer session.
Although concealed, it is evident that the R2 clay model shares a boxy profile similar to the R1S SUV, albeit in a smaller size. The R2 SUV is expected to have dimensions comparable to the Jeep Grand Cherokee.
Rivian is aiming for a wider market reach with the R2, targeting higher volumes. McDonough revealed that pricing will range between $40,000 and $60,000. In contrast, the R2S has a starting price of approximately $78,000.
The CFO emphasized that a major focus of the R2’s development lies in refining the cost basis, encompassing manufacturing and the supply chain. Compared to their startup phase in 2018, when the R1 had no product, Rivian now possesses a stronger position for negotiating contracts with suppliers.
Initially, the R2 platform was slated for production in 2025. However, Rivian announced in 2022 that the smaller and more affordable model would be delayed by a year, shifting the release to 2026. In 2019, Scaringe had outlined the company’s goal of having six models in its lineup by 2025.
The Rivian R2 will be manufactured at the new vehicle plant currently under construction near Atlanta, Georgia. Unfortunately, Rivian faced a setback that resulted in the loss of some tax breaks associated with the plant, thus requiring them to pay property tax. Once operational, the Georgia plant is projected to have an annual capacity of 400,000 vehicles.
Frequently Asked Questions (FAQs) about Rivian R2
When will the Rivian R2 be revealed and available for production?
The Rivian R2 is scheduled to be revealed in early 2024. However, production of the R2 is expected to be three years away, so it may not be available for purchase until a later date.
What is the estimated price range for the Rivian R2?
Rivian is targeting a price range of approximately $40,000 to $60,000 for the R2 SUV model. However, it’s worth noting that the R2S variant has a higher starting price of around $78,000.
How does the design of the Rivian R2 compare to the R1S SUV?
The Rivian R2 clay model features a boxy profile similar to the R1S SUV. However, the R2 is considerably smaller in size and is expected to have dimensions comparable to the Jeep Grand Cherokee.
What is Rivian’s strategy for the R2 in terms of production volumes?
With the R2, Rivian aims to target a broader market and achieve higher production volumes. This suggests that they are planning to produce the R2 in larger quantities compared to their previous models.
Where will the Rivian R2 be manufactured?
The Rivian R2 will be built at Rivian’s new vehicle plant, which is currently under construction near Atlanta, Georgia. The plant is expected to have an annual capacity of 400,000 vehicles once it becomes operational.