Rivian Automotive disclosed three new vehicles and declared more than $2 billion in reserve funds connected with stopping construction on a plant in Georgia.
The R2 vehicle is expected to come with a starting price of about $45,000 when it goes discounted during the first half of 2026. The organization has also announced the R3 and R3X, as it endeavors to grow its customer base in the midst of more slow than-anticipated EV sales in the U.S.
The R2 will be the fourth product for Rivian following a commercial delivery van and larger, more expensive R1S SUV and R1T pickup for consumers. The R1 vehicles start at roughly $70,000 and can top $100,000.
According to Rivian CEO RJ Scaringe, the R3 will be priced lower than the R1.
The announcements come at a pivotal time for Rivian as it endeavors to grow its customer base in the midst of more slow than-anticipated EV sales in the U.S. after automakers overflowed the first-adopter market with expensive all-electric vehicles lately.
Rivian’s sales pace has slowed in recent quarters, and the company widely disappointed investors last month by missing quarterly estimates and forecasting slightly lower production this year compared to 2023 due to plant downtime.
The Amazon-supported organization has been consuming cash to further improve current EV production and thin losses.
Shifting production of the R2 from the in-development plant in Georgia to the company’s plant in Normal, Illinois, will save $2.25 billion, Rivian said in a press release. It will also allow the vehicle to begin production earlier, it said.
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The organization said it will stop construction on the Georgia plant, to be continued “later.”
The R2 will work on a new EV platform yet seems to be a more modest form of the R1S SUV. It will be able to do in excess of 300 miles of all-electric reach on a single charge and 0-60 mph time in under3 seconds, the organization said. The R2 has a premium interior and tons of storage, including two gloveboxes.
R2 has been developed with vertically integrated propulsion platforms, electronics and software to create an staggering user experience.
