Rivian’s R2 cannot come quickly sufficient for the electrical truck startup.
Debuting subsequent month, the R2 is an important piece of Rivian’s future as a smaller and cheaper possibility for a brand new wave of EV clients.
Its launch comes at a crucial time for Rivian, which reported disappointing fourth-quarter earnings Wednesday night, with its 2024 manufacturing forecast falling nicely wanting analyst predictions.
The firm additionally introduced yet one more spherical of layoffs, slashing 10% of its salaried workforce after shedding $5.4 billion in 2023.
As demand for the form of costly EVs Rivian presently sells is shortly drying up, some analysts have been curious Wednesday if the startup would place extra urgency on the launch of the R2, which is presently scheduled to begin manufacturing in 2026.
“We’re certainly working very hard to make sure we deliver R2 on time and, to the extent possible, pull any time we can out of the program,” CEO RJ Scaringe stated on the earnings name. “We do think we’re in a very interesting moment in time where there is a lack of choice of highly compelling EV products in that $45,000 to $55,000 price range.”
Rivian has struggled at instances with the launch of its R1T and R1S, and nonetheless has a big backlog of orders for these two automobiles to work by way of because it prepares to launch R2.
Here’s what we all know in regards to the R2 to this point forward of its March 7 debut, due to some on-line sleuths and a few firm clues:
Design
Official particulars in regards to the R2’s appears to be like are sparse. So far, Rivian has solely revealed that it is going to be a compact SUV that matches with the remainder of the startup’s outdoorsy lineup.
The first purported picture of the R2 was posted on the Rivian subreddit final week, exhibiting our first glimpse of the compact SUV. In the leaked picture, the R2 appears to be like like a smaller model of the R1S, carrying the identical boxy physique fashion and sporting Rivian’s signature brilliant, anime-style headlights.
Pricing
Rivian hasn’t introduced official pricing for the automobile but however is positioning the R2 to compete with extra reasonably priced electrical SUVs and crossovers just like the Tesla Model Y and the Volkswagen ID.4.
The R2 is presently slated to promote for between $45,000 and $55,000 — which Scaringe referred to as a “really important sweet spot” within the EV market.
The R2’s value vary is nicely beneath the roughly $80,000 clients are shelling out for the R1S and $73,000 for the R1T. The present value vary for the R2 can also be extra consistent with the common value paid for a brand new automobile, which presently hovers round $48,000.
Refundable R2 deposits will value $100.
Production
Rivian has set a March 7 reveal date for the R2, with manufacturing on the startup’s brand-new Georgia manufacturing unit slated to start someday in 2026.
Deliveries
After the March 7 reveal, Rivian will open up pre-orders for the automobile and start taking deposits.