- Rivian is preparing a second product line following the R1T truck and R1S SUV, with the R2 expected to take the shape of a compact SUV.
- The R2 is due to be revealed in California on March 7th, and hit the market in 2026. It will slot below the R1 with pricing between $40,000 and $60,000.
- The R2 should continue the off-road-capable approach of Rivian’s other consumer vehicles, and could also spawn a pickup truck down the road.
UPDATE 1/29/24: The public reveal date of Rivian’s upcoming compact SUV appears to have leaked in the Laguna Beach city council meeting’s minutes sheet, as first pointed out by a local publication called Stu News Laguna. The city council met to discuss the approval of a request by Rivian to host a March 7th reveal titled “R2 Launch” at a local park. The manufacturer was seeking approval to park six vehicles as part of a “worldwide product launch event.” The leaked date lines up with previous communication from Rivian’s Chief Financial officer that Rivian will debut the R2 in early 2024 with plans for sales to begin in 2026.
Rivian is working hard to ramp up production of its R1T pickup and R1S SUV—along with assembling EDV vans for Amazon—and built more than 9000 vehicles in the first quarter of 2023. But while the company’s Normal, Illinois, plant churns out those vehicles, Rivian is also busy developing its next EV. The automaker’s chief financial officer, Claire McDonough, revealed some details on the upcoming R2 at an automotive conference, as first reported by Carbuzz.
According to McDonough, the R2’s design is almost finished and will expand on the distinctive styling that has helped the R1T and R1S stand out in a sea of new EVs. The R2—which is expected to debut as a compact SUV but could later be joined by a pickup variant—will be shown to the public for the first time in early 2024 before sales kick off in 2026.
McDonough confirmed that the R2 will be more affordable than the R1T and R1S, with pricing ranging from $40,000 to $60,000. “R1 has an average selling price of $73,000, so this lives right below that,” she explained. The R2 will continue the adventurous vibe started by the R1T, with McDonough stating that the “R2 really leans on the brand and ethos of what R1 has started.” Along with the company’s unique positioning as the outdoorsy EV brand, McDonough cited “the UI/UX experience” as one of the other areas where the R2 can differentiate itself.
Comfort/Capability Tradeoffs?
Still, some sacrifices will have to be made to maintain a lower price point. As Rivian’s CEO, RJ Scaringe, explained earlier this year, “On a vehicle with a cost target, you have to decide where you’re going to spread your investment.” We wouldn’t be surprised to see the R2 sacrifice some off-road capability for on-road comfort or interior quality. The startup also says it has revised how it interacts and negotiates with suppliers to keep material costs down, learning from its experience with the R1T and R1S.