Rivian announced on Monday that it has set a date for the unveiling of its R2 next-generation compact SUV: March 7.
Rivian has been in the EV space for a few years now after it launched the R1T all-electric pickup and R1S all-electric SUV. Gearing its products toward outdoor uses and adventuring, it has quickly become one of the favorites among EV fans, especially considering it is one of the only startups to execute previously announced plans.
Although Rivian felt early growing pains that are normal for an automotive startup, it has ridden through them and navigated the waves, now hoping to launch its new, more affordable, and more compact R2 EV.
It will shed more details on March 2.
This is it. Get ready to meet R2 on March 7th. pic.twitter.com/N2CKDTTZ5I
— Rivian (@Rivian) February 5, 2024
Rivian R2: What We Know
Rivian has been tight-lipped on the R2 vehicle, and for good reason. With new product launches, automakers usually keep things pretty tight, as details remain in-house until things are finalized and are ready to be released to the public.
However, there are some things we do know, based on what CEO RJ Scaringe has revealed.
Rivian CEO RJ Scaringe teases next ‘R2’ line as Biden signs Inflation Reduction Act
We know the Rivian R2 will cost somewhere between $40,000 and $60,000, or at least it is planned to be in that range. Of course, there is the potential that Rivian’s price point is affected by external factors and could fall outside of that region. However, we expect it to be within the $20,000 gap, considering it will need something cheaper than what it currently offers, given it is a smaller, more compact vehicle.
We also know that Rivian will build the car in Georgia, where it plans to build a production facility over the next couple of years. Although production is not expected to start until 2026, that will give the automaker plenty of time to refine its plans and blueprints for the vehicle and potentially be able to offer the car at a less expensive price than it currently plans, especially if economic factors improve.
Rivian has been able to build a robust team of experts and engineers to prepare for the R2 launch. Recently, it snapped up Apple veterans Jonas Reinke and VP of Engineering DJ Novotney.
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