• The Rivian R2 will be presented in 2024, but market launch isn’t expected before 2026.
We know that Rivian is working on new, smaller and – above all - more affordable models. Last May, the company gave a glimpse of the EV it's working on. The Rivian R2 is still only in the clay-model phase, but during an online presentation, it was present, hidden under a canvas.
That revealed nothing other than its general shape, as square as that of the R1T and R1S already on the market. As for the format, imagine a compact SUV like a Honda CR-V or Toyota RAV4.
This week, Rivian provided more details on when we can expect the model to arrive. Basically, we'll have to wait three years before we can get our hands on a more affordable version of the model.
In conversation with a Deutsche Bank representative at an automotive industry conference, Rivian CFO Claire McDonough talked about when the R2 will be unveiled, and about its eventual price range. In particular, she stated that the R2 would be presented in early 2024.
McDonough said the R2 should be presented in early 2024; she also indicated that prices will range between $40,000 and $60,000 USD. We know that Rivian is aiming for a broader market and wider distribution with this R2.
By way of comparison, the R1S version has a starting price of $78,000 in the US. In Canada, the starting price is $107,000. We can therefore imagine a price range of between $69,000 and $103,500 for the R2 in Canada.
Obviously, this is highly speculative, but it gives us an idea.
With the R2, Rivian aims to lower its production costs at every stage of the manufacturing process, starting with its relationships with suppliers. In 2018, when the company had no models on the market, it was not in a position of strength. Here, the story could be different. Certainly, if Rivian can further reduce the bill for consumers, it will; it needs to move more units to ensure growth.
Rivian R2: on the market in 2026
While the model is due to be unveiled in 2024, production is not expected to begin until 2025, with a market debut headed for 2026. Obviously, with the lingering consequences of both the epidemic and supply chain shortages, all plans remain subject to change. In 2019, the company planned to have six models in in its lineup by 2025. This R2 is only the third.