The Rivian R2 has the potential to become an even bigger thing for the company than everyone expected.
It goes without saying that the midsize electric SUV will target a much larger demographic than the existing high-end R1S and R1T, but it looks like the growth potential of the R2 will be even more significant.
That’s because Rivian is reportedly developing additional variants of the R2 that it hasn’t disclosed previously. While Rivian recently began volume production of the R2 at its Illinois plant, CEO RJ Scaringe told Reuters the new Georgia plant is being built to support multiple versions of the R2 platform, allowing flexibility as the EV maker ramps up production.
Rivian R2 Pickup and R2X Performance Model Not Ruled Out
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While Scaringe did not get into details, he did suggest R2 versions may include pickup or performance models. “There are other variants of R2, which we haven’t shown,” Scaringe said in an interview with the news agency when asked about a pickup variant of the R2. “What we’re building in Georgia allows for different variations,” he added.
Rivian previously said the R2 midsize platform would also underpin a smaller R3 crossover and the R3X performance variant further down the line, but it looks like an R2X performance model is also in the cards. “So clearly there could be an R2X,” Scaringe said. “There’s going to be combinations. I want to be careful not to announce the program.”
While that’s great news, Rivian needs to nail the R2 rollout first, as deliveries of the new model are expected to start around June. In March, the company has announced various trims of the R2 SUV, including a $58,000 R2 Performance Launch Edition model, a $53,990 R2 Premium trim coming before the end of the year, and the $48,490 R2 Standard arriving in the first half of 2027.
Mind you, the long-awaited $45,000 entry-level R2 trim will become available by late 2027. Expected to offer over 275 miles of range, the base Rivian R2 is likely to significantly expand the company’s customer base.
The R2 Is Expected to Boost Rivian Deliveries by 53% This Year
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Rivian expects deliveries to jump 53% this year driven by the launch of the R2. Assuming a smooth production ramp and steady demand, the company expects to deliver roughly 22,000-23,000 R2s, contributing to a significant increase in Rivian’s EV market share.
Initially, the R2 is being built at the existing plant in Normal, Illinois. But the midsize electric SUV will also be built at the new factory in Georgia, which is expected to start production in 2028; the smaller R3 and R3X will also be made at the site.
Rivian has been awarded a $4.5 billion loan from the Department of Energy to build the plant, and the company will begin to access the loan next year. Initially, the loan was supposed to amount to $6.57 billion, but on April 30 Rivian announced that it renegotiated the terms in order to draw on the loan sooner and have greater initial production.
As a result, the Georgia plant is now projected to have an annual output of 300,000 vehicles given the uncertain demand for all-electric vehicles, down from an initial projected capacity of 400,000. Rivian’s new factory will also build the 10,000 autonomous R2 robotaxis contracted by Uber as part of a $1.25 billion deal.
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