Rivian Plans $45,000 Midsize SUV and New Georgia Factory for Future Models
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Rivian is expanding its electric vehicle lineup with a new, more affordable midsize SUV called the R2, set to start at $45,000 next year. The company is also building a new factory in Georgia, funded in part by a $4.5 billion federal loan, to produce the R2 and future models starting in 2028. Initial R2 vehicles will be built at its existing Illinois plant.
Facts First
- Rivian will add a $45,000 R2 midsize electric SUV to its lineup next year.
- Initial R2 production will be at its Normal, Illinois factory, with future models moving to a new Georgia plant.
- A new factory in Georgia is scheduled to open in 2028 to build the R2, R3, and R3X models.
- The Georgia project is supported by a $4.5 billion Department of Energy loan, with access beginning next year.
- The company is exploring new technologies, including a potential R2X model and in-house lidar sensors made with a Chinese partner.
What Happened
Rivian is launching a new, more affordable electric vehicle, the R2 midsize SUV, with a starting price of $45,000 next year. Initial production of the R2 will take place at the company's existing factory in Normal, Illinois. For the longer term, Rivian is constructing a new factory in Georgia, scheduled to begin operations in 2028, which will manufacture the R2, R3, and R3X models. This facility is partially funded by a $4.5 billion loan from the Department of Energy (DOE), which Rivian will begin to access next year. CEO RJ Scaringe also told Reuters the company is considering developing its own lidar sensors in collaboration with a Chinese company and that a potential R2X model could be part of the lineup.
Why this Matters to You
If you've been interested in an electric SUV but found current options too expensive, the planned $45,000 Rivian R2 may bring a premium brand's technology into a more accessible price range. The expansion into new factories and models could create more jobs in the automotive and manufacturing sectors, particularly in Georgia and Illinois. For current and future EV owners, Rivian's exploration of in-house lidar technology may lead to more advanced and potentially more affordable driver-assistance features in its vehicles.
What's Next
Rivian will begin accessing the $4.5 billion DOE loan next year to support the construction of its Georgia factory. The company is likely to reveal more specific details about the R2's features, range, and exact launch timing as next year approaches. The potential development of proprietary lidar sensors and the R2X model could signal a broader technological and product roadmap that may be unveiled in the coming years.