Rivian CFO Says R2 Opens Up Market to More Consumers
Summary
Rivian CFO Claire McDonough discusses the launch of the R2 electric SUV, addressing tariffs, supply chain challenges, and hiring strategies in the US during an exclusive interview with Bloomberg at the JPMorgan Leveraged Finance Conference in Miami.
Key Insights
What is the Rivian R2 and how does it differ from Rivian's existing models?
The Rivian R2 is a more affordable mid-size electric SUV starting at around $45,000-$47,000, designed to appeal to a broader consumer base compared to Rivian's premium R1T pickup and R1S SUV, with features like single/dual/tri-motor options, over 300 miles of range in the longest variant, and production initially at the Illinois plant.
What are Rivian's delivery expectations for the R2 in 2026?
Rivian projects 20,000 to 25,000 deliveries of the R2 in 2026, contributing to total company deliveries of 62,000 to 67,000 vehicles, exceeding Wall Street expectations of 13,400 R2 units, with production starting in Q2 at the Normal, Illinois facility.