After teasing us with some hints, Rivian finally made the announcement on X (formerly Twitter): the R2 is set to launch on March 7. This new vehicle is expected to be positioned below Rivian's R1S SUV and R1T pickup, featuring a smaller footprint and a more affordable price.
Rivian has yet to disclose any details about the R2, apart from a May 2023 Instagram story video featuring a concealed clay model of the car.
During a December Guy Raz's podcast, Rivian CEO RJ Scaringe hinted that the R2 would be priced at approximately $45,000 to $50,000, which is roughly half the cost of their current cheapest model, the $80,800 R1T pickup truck. The anticipated release date for this vehicle is set for sometime in 2026.
According to Scaringe, the Rivian R2 will be the pivotal moment for the brand, akin to what the Model 3 represented for Tesla. He highlights the multitude of challenges that will arise from scaling up production to meet the demands of a more affordable model line.
Rivian plans to proactively address challenges by building a state-of-the-art manufacturing plant, with an investment of $5 billion. According to Clayco, the esteemed real estate firm overseeing the project, this complex will not only generate 7,500 direct job opportunities but also create an additional 8,000 indirect jobs.