Rivian Targets 20,000 To 25,000 R2 Deliveries This Yr

The R2 crossover’s launch is a make-or-break second for Rivian. The EV startup’s success largely hinges on how patrons react to its first mass-market mannequin—and the way shortly it could ramp up manufacturing.

On Thursday, the carmaker shared its tough quantity expectations for the R2’s first 12 months available on the market. On Rivian’s fourth quarter earnings name, CFO Claire McDonough mentioned the corporate goals to ship 62,000-67,000 autos throughout its portfolio in 2026. She added that Rivian’s R1T, R1S and industrial van volumes might be roughly in keeping with final 12 months’s numbers, which got here in at a bit over 42,000 models.

Meaning the R2 is anticipated to drive Rivian’s development in 2026. Some simple arithmetic leaves us with an implied 20,000 to 25,000 models for the R2. If you happen to’re an R2 reservation holder, which will offer you some indication as to if you’ll truly have the ability to order a automobile.

Manufacturing will begin within the second quarter, and McDonough mentioned to not anticipate significant R2 quantity till the again half of the 12 months. The launch version mannequin might be manufactured on one shift to begin, she mentioned, with a second shift on the firm’s plant in Regular, Illinois, deliberate for later in 2026.

Wanting additional forward, Rivian founder and CEO RJ Scaringe advised CNBC on Thursday that he expects the R2 will make up the “majority” of Rivian’s quantity by the tip of 2027. Rivian has mentioned that its newly expanded Regular plant may have the capability to product 215,000 models yearly, together with as much as 155,000 R2s. Later this decade, the corporate plans to make R2s and future autos at a brand new plant beneath development in Georgia.

Rivian goals to ship 62,000-67,000 autos this 12 months.

Picture by: Patrick George

Rivian has touted a $45,000 base worth for the R2, about half the transaction worth of the larger, pricier R1S. However the launch version will doubtless price significantly greater than that. Extra particulars of the debut mannequin might be revealed on March 12, however Rivian has mentioned that it might be a dual-motor, all-wheel-drive model much like the prototype we examined earlier this month.

The EV maker posted higher than anticipated outcomes for the fourth quarter, together with $1.29 billion in income and a $120 million gross revenue. It additionally posted its first-ever full 12 months of gross revenue. (Gross revenue is a measure of profitability that excludes lots of the prices that are not straight related to making and promoting a product.) The corporate’s inventory soared 15% in after-hours buying and selling on the information.

However Rivian additionally warned that it expects to maintain shedding cash in 2026: between $1.8 billion and $2.1 billion, in keeping with its newest steering.

Optimistic early critiques of the R2 that got here out this week, together with ours, counsel that Rivian succeeded in shrinking down the charming, high-tech R1S right into a extra inexpensive package deal. And it seems to be like Rivian has a formidable challenger to the Tesla Mannequin YAmerica’s best-selling EV by an enormous margin.

Nonetheless, success is not assured. Rivian must scale up manufacturing shortly with minimal points. The automobile must click on with patrons. And the corporate wants to beat the lack of the $7,500 EV tax credit score and a typically gloomy surroundings for electrical automotive gross sales.

Scaringe advised InsideEVs final 12 months that the corporate is much better ready to scale up manufacturing of the R2 than it was for its debut R1T and R1S in 2021. He is additionally mentioned that what’s holding the EV market again is a scarcity of actually glorious choices to rival the Mannequin Y. Quickly, we’ll be taught if that idea holds up.

Contact the creator: Tim.Levin@InsideEVs.com

Up to date Thurs Feb. 12 9:30 pm ET with extra data on Rivian’s fourth-quarter and full-year earnings.