Revealed: Rivian R2 Model for 2024 and Its $40,000 Price Point!
Rivian, the American electric vehicle (EV) startup, is gearing up to unveil its first model in the smaller and more affordable 2026 Rivian R2S and 2026 Rivian R2T range early in 2024, as announced by the company's Chief Financial Officer (CFO), Claire McDonough. During Deutsche Bank's Global Auto Industry Conference Call, McDonough shared her excitement about the upcoming R2 lineup, mentioning that the entire team is thrilled about the distinctive features of these products.
The initial R2-based model from Rivian is expected to be a mid-size SUV crossover with a potential starting price of approximately $40,000 and a maximum retail price of $60,000. Positioned below Rivian's flagship R1T pickup, which begins at $73,000, and the R1S SUV with an MSRP of $78,000, the forthcoming R2S SUV (name yet to be confirmed) will likely offer a comparable size and price range to the Ford Bronco.
The R2 SUV will be in production approximately two years after its unveiling in 2026. Rivian aims to increase production of R1-based vehicles to 85,000 units per year, up from the current 65,000. However, production of the Electric Delivery Van (EDV) exclusively for Amazon will decrease from 85,000 to 65,000 units annually. By 2024, Rivian's assembly facility in Normal, Illinois, will have a total capacity of 150,000 units per year. Eventually, the manufacturing of R2 models will shift to a second factory in Georgia.
Rivian's groundbreaking and high-performing electric vehicles have caused quite a sensation in the market. In an effort to provide a more affordable option without compromising on the qualities that have made Rivian a standout in the industry, the company has unveiled its new R2 line. Currently, they have only revealed the R2S under a cover, but there is a greater emphasis on this model, along with the R1 version, as the R1S is in high demand. Both drivers and potential electric vehicle buyers are eagerly anticipating the unveiling of the R2 models, as Rivian continues to push the boundaries in shaping the future of eco-friendly transportation.