RIVIAN LAUNCHES R2 WITH $45K OPTION COMING 2025

Production of the R2 started at Rivian's manufacturing plant in Normal, Illinois, despite recent tornado damage to the facility. The compact SUV represents a significant shift in Rivian's strategy toward accessible pricing in the EV market. CEO RJ Scaringe disclosed the upcoming $45,000 variant during an appearance on Bloomberg Tech, signaling the company's commitment to expanding its addressable market beyond its higher-priced R1T and R1S models. The R2 launch comes as Rivian works to achieve profitability amid broader EV market pressures and competition from established manufacturers. Industry analysts view the sub-$50,000 price point as essential for the startup to reach mainstream consumers and improve production volumes. Rivian has not specified when the current R2 pricing will change or what features the $45,000 model will include. The company continues ramping production despite operational challenges from recent weather events at its primary manufacturing facility.