Electric vehicle manufacturer Rivian’s chief executive has disclosed that the company is creating additional models based on its upcoming R2 electric SUV platform, just days after beginning mass production of the budget-friendly vehicles.
The automaker, which has built its reputation on premium R1 SUVs and pickup trucks, expects to begin R2 SUV deliveries around June. Industry experts consider a successful launch essential for the company to reach mainstream consumers.
“There are other variants of R2, which we haven’t shown,” CEO RJ Scaringe told Reuters during a recent interview when questioned about a potential pickup version of the R2.
“What we’re building in Georgia allows for different variations,” Scaringe explained, mentioning the company’s new manufacturing facility where R2 production will eventually expand. The CEO chose not to reveal specific details about the upcoming model variations.
Electric vehicle sales have struggled following the elimination of important federal tax incentives, though rising fuel costs have sparked renewed interest in battery-powered cars. Industry observers view affordable electric vehicles as a promising segment, especially given current high interest rates.
In March, Rivian unveiled several trim levels for the R2 SUV. Production will launch with a $58,000 model, followed by less expensive options later this year and in 2027. A highly anticipated $45,000 version offering more than 275 miles of driving range, expected to significantly expand Rivian’s customer reach, will arrive by the end of 2027.
The company, which also produces electric delivery vans mainly for Amazon, introduced its R1T pickup trucks in 2021 before adding R1S SUVs. Using its mid-size vehicle platform, Rivian has revealed plans for R2 SUVs, plus a compact R3 crossover and the performance-focused R3X.
“So clearly there could be an R2X,” Scaringe noted. “There’s going to be combinations,” he added, while cautioning, “I want to be careful not to announce the program.”
Rivian’s projection of a 53% increase in deliveries this year stems from the R2 launch and suggests approximately 22,000 to 23,000 R2 sales, assuming consistent demand and smooth production scaling.
The R2 will likely “materially boost sales” and “capture additional EV market share,” benefiting from its lower cost and self-driving capabilities, Cantor Fitzgerald analyst Andres Sheppard wrote in a research note following last week’s quarterly earnings report.
The vehicle also plays a key role in Uber’s $1.25 billion autonomous taxi partnership with Rivian, where the ride-sharing company will deploy 10,000 fully self-driving R2 vehicles starting in 2028.
