Shareholder Letter Reveals New Plans For the Rivian R2
Rivian is pushing hard to manage the production of the first electric truck to hit the market, the 2022 Rivian R1T. But that’s not all the EV startup is doing. There is also the R1S SUV coming and electric Amazon delivery trucks. Amidst all that, a recent Rivian shareholders letter revealed that the EV makers are already gearing up for a new vehicle, the Rivian R2. Wait, What is that?
What is the Rivian R2?
Accordion to MotorTrend, a shareholder letter issued this week shows Rivian teasing more details on its so-called upcoming “R2” platform of new vehicles. The best theory as of now is that the R2 platform will likely be priced and marketed as a more affordable offering in the company lineup.
Rivian published the shareholders’ letter on the website last week. In it, Rivian focused on the plan “to ensure that the $17 billion of cash we had on our balance sheet as of March 31, 2022, can support the 2025 launch and ramp of our R2 vehicle platform.”
The R2 represents the next step in Rivian production and EV variety. The letter doesn’t give much more detail on the R2 other than it will be released globally “across different price points and form factors.” Lastly, Rivian claims this move is critical to the brand’s long-term success.
Everything we know about the Rivian R2
MotorTrend reports that they were informed that the R2 would be a bit more compact than the R1T. In fact, this platform will be the base for a whole new line of smaller trucks and SUVs. The prevailing thought now is that the R2 will most likely have dual- or possibly tri-motor configurations. Motortrend says that the R2 is not likely to get the quad-motor setup.
When will Rivians be available?
The chip shortage has crushed automotive production down to a fine powder that is easily scattered by the slightest breeze. This has caused massive log jams across nearly every automotive brand. Rivian, as a startup with all new tooling and tech, has had a particularly tough time keeping up with production or even the original pricing.
However, Rivian says that they are prepared to ramp up production to 150,000 units per year. Production is Rivians main goal right now. The biggest challenge is the supply chain, but factories have a way of presenting us with fun new challenges daily, like the random battery fire last week.
Despite all the hangups, the Normal, Illinois plant proved it can operate a full capacity in “burst build activities” as long as supply chains cooperate.
How many electric pickup trucks does Rivian need to make?
The EV startup has received 90,000 preorders between the R1T and R1S. That figure doesn’t include the 100,000 delivery vehicles that Amazon ordered. Needless to say, there is still plenty of work to be done in Normal before Rivian can even think of the R2, yet they are doing just that.
Although Rivian hasn’t mentioned when the first R2 platform vehicles will happen, teasing the shareholders with the R2 hopefully means we will hear more soon.
