Rivian, the electric vehicle manufacturer, is making waves with its upcoming midsize R2 electric SUV. Priced at around $45,000, the R2 is positioned as a more affordable option compared to Rivian’s current R1S and R1T models. Claire McDonough, the CFO of Rivian, has confirmed that the company is working tirelessly to bring the R2 to market. Additionally, Rivian has plans to expand its reach globally, with intentions to launch the R2 in overseas markets.
McDonough recently provided updates on Rivian’s progress, including the development of the R2, as well as plans for the smaller R3 and R3X models. Production of the R2 is expected to commence in the first half of 2026, with the sourcing process nearly complete. Following the launch of the R2, Rivian will introduce the R3 and R3X models, which will be manufactured at a new facility in Georgia set to come online in 2028.
Despite the lower price point of the R2 compared to Rivian’s current models, McDonough reassures that the R2 will still embody the “Rivian essence” with advanced technology, software, and a premium feel. The company secured a loan agreement with the US Department of Energy to fund its Georgia plant, although there have been uncertainties regarding the funding following changes in government leadership.
Rivian’s expansion plans include ramping up production at its new Georgia plant, which is expected to produce up to 400,000 EVs annually once fully operational. The company is also looking to expand its presence internationally, with plans to launch the R2 in European markets and beyond. Additionally, Rivian is diversifying its product lineup by expanding its electric van business and recently collaborating with Ben & Jerry’s to launch an electric ice cream truck based on its Commercial Van.
Overall, Rivian is poised for growth and innovation in the electric vehicle market, with a focus on delivering high-quality, sustainable vehicles to a global audience. Watch the full Q&A session with Claire McDonough for more insights into Rivian’s future plans and developments.
