The Anticipated Launch Date of Rivian’s Compact SUV, the R2, Appears to Have Accidentally Emerged During a City Council Meeting

The unveiling date of Rivian’s upcoming compact SUV seems to have been inadvertently disclosed in the minutes of a Laguna Beach city council meeting, as initially highlighted by the local publication Stu News Laguna. During the council’s discussion on approving Rivian’s request to host a “R2 Launch” event at a local park on March 7th, it appears that the reveal date was inadvertently leaked.

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This aligns with prior statements from Rivian’s Chief Financial Officer, who indicated that the R2 would make its debut early in 2024, with sales expected to commence in 2026.

Rivian is actively scaling up production of its R1T pickup, R1S SUV, and assembling electric delivery vans (EDVs) for Amazon. The company produced over 9,000 vehicles in the first quarter of 2023 at its Normal, Illinois plant. Concurrently, Rivian is also focusing on the development of its next electric vehicle (EV), the R2. Claire McDonough, the CFO, provided insights into the R2’s progress during an automotive conference. She mentioned that the R2’s design is nearing completion and will build upon the distinctive styling that has set the R1T and R1S apart in the competitive EV market. The R2, initially expected as a compact SUV, will be publicly revealed in early 2024, preceding sales starting in 2026.

McDonough assured that the R2 would be more budget-friendly than its predecessors, with a pricing range of $40,000 to $60,000, positioning it below the average selling price of the R1T. Emphasizing the R2’s alignment with Rivian’s adventurous brand identity, she stated that the new model continues the ethos initiated by the R1 series. The unique user interface and user experience (UI/UX) also play a significant role in differentiating the R2.

However, to maintain a lower price point, certain compromises may be inevitable. Rivian’s CEO, RJ Scaringe, previously explained that decisions about where to allocate investments are crucial in achieving cost targets. The R2 may potentially trade off some off-road capability for on-road comfort or interior quality. Rivian has also revised its approach to interactions with suppliers to control material costs, incorporating lessons learned from the R1T and R1S experiences.