Rivian's R2 Launch Acceleration Saves $2.25B, Surprises with R3 and R3X SUVs

Rivian delays the construction of its $5 billion EV plant in Georgia to focus on accelerating the launch of its new R2 electric SUV at its Normal, Illinois facility, resulting in an estimated $2.25 billion in savings. The R2, a more affordable electric SUV, will be available in single, dual, and tri-motor versions and is expected to start at $45,000. The decision to delay the Georgia plant construction will allow Rivian to use the saved capital to launch the R2 and upgrade its Normal facility to increase annual vehicle production capacity.