Rivian has increased its 2024 vehicle delivery forecast to 65,000-70,000 units, up from 62,000-67,000, despite a slowdown in U.S. EV sales. The company attributes this to strong second-quarter performance and the introduction of its mass-market R2 SUV.
Rivian CEO RJ Scaringe discusses the critical R2 SUV launch, aiming for mainstream appeal and profitability. The company faces challenges balancing customer satisfaction with reliability as it seeks to compete with Tesla and traditional automakers.
Rivian's R2 SUV, priced starting under $60,000, begins deliveries on June 9, with cheaper versions ($48,490 in 2027, ~$45,000 in late 2027) planned.
Rivian has begun producing customer-ready R2 SUVs at its Normal, Illinois factory just days after an EF-1 tornado damaged the facility. CEO RJ Scaringe said the company does not expect any delays to the R2 rollout, which is critical to Rivian's path to profitability. The launch edition R2 starts at $57,990, with a $53,990 variant coming by year-end and a $45,000 base model expected in late 2027. Rivian aims to deliver 20,000-25,000 units by end of 2026.
Rivian's Normal, Illinois factory was hit by an EF-1 tornado over the weekend, damaging Building 2 where the R2 SUV is manufactured. Operations are paused with plans to resume this week. No injuries were reported, though the company hasn't confirmed whether this will impact the R2's upcoming launch. The R2 is critical to Rivian's path to profitability, with the company targeting 20,000-25,000 units sold by year-end.
