● Placeholder · Category
Rivian’s midsize platform centers on R2 and R3, with R2 revealed March 7, reservations opened for a $100 refundable deposit, and saleable R2 production already started with employee deliveries before external customer deliveries in the coming weeks. The company pulled R2 SOP forward to the first half of 2026, chose Normal, Illinois for launch production, and expects the move to save more than $2.25 billion versus the original Georgia plan while lifting Normal capacity to about 215,000 units across R1T, R1S, EDV, RCV, and R2. Rivian’s Normal expansion includes a 1.1 million square foot body shop and general assembly facility plus a 1.2 million square foot supplier park and logistics center, with equipment bring-up underway and validation builds using majority production tooling. The R2/R3 architecture uses an all-new 4695 cell, a new perception stack with 11 cameras and five radars, and Single-, Dual-, and Tri-Motor configurations, while the launch R2 variant is a well-equipped Dual-Motor AWD model; Rivian also introduced Tri-Motor and Quad-Motor in-house motor configs and a new zonal network architecture that cuts ECUs by about 60%. Cost reduction and capital discipline remain central: the company says R2 BOM is about 95% sourced and roughly half the improved R1 BOM, cash is sufficient through 2025, 2024 capex is guided to $1.75 billion and adjusted EBITDA to $(2.7) billion, and a strategic LG Energy Solution supply deal secures 4695 cylindrical battery cells for the platform. Rivian is also advancing Georgia as a second U.S. plant, with construction expected to begin in 2026, production in 2028, and initial capacity raised to 300,000 vehicles annually for the midsize platform, supported by DOE financing and 7,500 planned manufacturing jobs.
The Story · In Order · 48 Statements
Rivian's roadmap is focused on using its cash to support the 2025 launch and ramp of the R2 vehicle platform.
Rivian plans to apply learnings from the first two production lines to the launch of R2.
Rivian is building partnerships with cell providers and upstream precursor material suppliers to complement its internal cell development initiatives.
Rivian Automotive believes its existing cash, cash equivalents and short-term investments will be sufficient to fund operations and capital expenditures through 2025.
Rivian said it will reveal its midsize platform, R2, for the first time on March 7.
Rivian said its company-wide cost transformation program has reduced total unit costs for both the R1 and EDV models through engineering design changes, commercial cost downs, and manufacturing efficiencies.
Rivian said it is guiding toward 2024 capital expenditures of $1,750 million and adjusted EBITDA of $(2,700) million.
Rivian said R2 and R3 use an all-new 4695 cell and are estimated to deliver over 300 miles of range on a single charge.
Rivian said R2 and R3 will offer Single-Motor, Dual-Motor, and Tri-Motor configurations, with the quickest configuration accelerating from 0 to 60 mph in under 3 seconds.
Rivian said R2, R3, and R3X will be available internationally after their North American launch.
Rivian said R3 and R3X deliveries will begin after R2 deliveries to support a smoother R2 launch and ramp.
Rivian said R2 planned start of production has been pulled forward to the first half of 2026.
Rivian opened U.S. reservations for R2 for a $100 refundable deposit, with deliveries expected to begin in the first half of 2026.
Rivian said R2 and R3 will use a new perception stack with 11 cameras, five radars, and a more powerful compute platform to provide enhanced autonomous capabilities.
Rivian said construction at its Georgia plant is expected to resume later while the company focuses on launching R2 in Normal, Illinois.
Rivian plans to start production of R2 in its existing Normal, Illinois manufacturing facility.
Rivian said R2 is intended to make the company's products available at a significantly lower price point.
Rivian estimated more than $2.25 billion in savings versus launching the first line of R2 production at the Georgia site.
Rivian unveiled a new midsize platform that underpins the R2 and R3 product lines.
Rivian expects Normal to have 215,000 units of total annual capacity across R1T, R1S, EDV, RCV, and R2 after the R2 launch and plant changes.
Back to Atlas
Browse all groups →