All articles tagged with #r2 suv
Rivian's CFO indicates that the end of EV tax credits is prompting the company to develop a more affordable, mass-market electric SUV, the R2, to expand its customer base and support future growth, including new manufacturing facilities and autonomous features.
Rivian's CEO RJ Scaringe is optimistic about the upcoming R2 small electric SUV, which aims to compete with Tesla's Model Y by offering a more traditional SUV design, advanced tech, and a competitive price point of $45,000. The vehicle is seen as a critical model for Rivian's survival, with production starting in 2026, amidst a challenging EV market influenced by policy changes and competition. The success of R2 could significantly impact Rivian's future and the broader EV industry.
Rivian's R2 SUV is set to compete with Tesla's Model Y in the mass-market electric SUV segment, with similar starting prices and battery ranges. The R2's boxy design and focus on outdoor performance differentiate it from the sportier-looking Model Y, which appeals to a more tech-oriented customer base. Rivian's R2 is expected to offer more storage space than the Model Y, and its arrival in 2026 comes at a critical time for the company, which has faced challenges with the launch of its R1 products.
Rivian's market value surged by over $1.7 billion after unveiling its R2 SUV and announcing cost-cutting measures, including halting plans for a $5 billion factory and introducing a smaller, cheaper R3 compact SUV. The Amazon-backed electric-vehicle maker's stock soared following the event, providing a much-needed boost after a disappointing quarter and workforce reduction. Despite positive reception for its new models, Rivian still faces challenges as it has yet to turn a profit and is losing money on each vehicle produced.
Rivian's market value surged by over $1.7 billion after unveiling its R2 SUV and announcing cost-cutting measures, including halting plans for a $5 billion factory and introducing a smaller, cheaper R3 compact SUV. The Amazon-backed electric-vehicle maker's stock soared following the event, providing a much-needed boost after a recent market cap plunge. Despite positive reception for its new models, Rivian still faces challenges, including ongoing losses and the need to achieve volume production with positive cash flow.
Rivian unveiled a new rooftop tent accessory, dubbed the "treehouse," for its R2 SUV and future R3 EVs, which comes with a built-in movie projector and is designed to maintain high quality while keeping costs reasonable. The company also revealed other adventure accessories, including a cargo box and travel kitchen, alongside the R2 SUV, a five-seat, all-electric midsized SUV with over 300 miles of range and a base price of $45,000, as well as the smaller R3 and R3x hatchback-style EVs.
Rivian's upcoming R2 platform electric SUV will cost between $40,000 and $60,000, according to the company's CFO, Claire McDonough. The R2 will be built on a lower-cost platform and will maintain some of the adventure aesthetic of the R1S, but the company will have to work on making it more affordable. McDonough also mentioned that reducing parts and supply costs will be a big factor in getting the R2 to a lower price point.