Rivian's R2 platform will yield small crossover, pickup

Rivian Automotive has struggled over the past two years with supply chain constraints, billions of dollars in financial losses and a deflated stock price while ramping up production at its sole plant in Normal, Ill.

But the California automaker's first two consumer products, the R1T pickup and R1S crossover, have been heaped with praise, opening the door for more affordable models.

CEO RJ Scaringe last month said the company has mostly fixed its parts issues and is working on deep cost reductions that will find their way onto the new R2 platform. He estimated starting prices for its next generation of vehicles at $40,000 to $45,000. That contrasts with the R1T base price of $74,800, with shipping.

Expectations are high that an R2T pickup and R2S crossover will have the adventurous styling, attention to detail and off-road capabilities of the R1 vehicles in a smaller package.

"We couldn't possibly be more excited about what's to come with R2, and we're really looking forward to showing our product in the early part of 2024," Scaringe said on an August earnings call.

Because of delays in breaking ground on its future factory in Georgia, production of the R2 vehicles isn't scheduled by Rivian until 2026, a year later than originally forecast by the automaker.

R1T: New battery packs are coming for the R1T pickup, the first vehicle to roll off Rivian's production line in September 2021. The company this year will introduce the Max pack with up to 400 miles of range. The big battery is a $16,000 upgrade over the standard pack rated at 270 miles of range.

Rivian also plans to offer a lithium iron phosphate battery pack on future vehicles to save costs, which should be ready by next year. The LFP chemistry was introduced this year in the EDV commercial vans Rivian makes for Amazon.

Both the EDV vans and R1 vehicles incorporated the new in-house Enduro electric motor this year. No major changes are expected for the R1T until the end of the decade.

R1S: Like its R1T sibling, the R1S crossover will get new battery packs. The Max pack option this year comes with up to 390 miles of range. Rivian has also said it will offer an LFP battery on its R1 vehicles next year but has not provided specifications.

The R1S this summer received the option of a dual-motor configuration using Rivian's Enduro motor rather than the more expensive outsourced quad-motor options. Rivian has said performance of the dual-motor version is similar to the quad-motor setup. No major changes are expected for the R1S until the end of the decade.

R2T: Rivian is expected to use its second-generation platform for a compact-to-midsize pickup that's smaller and significantly less expensive than the R1T. The automaker has not confirmed a smaller pickup, but industry analysts say it's likely, given the success of the R1T and strong demand for pickups in the compact and midsize segments.

AutoPacific expects the R2T to be about the same size as the Ford Ranger and have styling similar to the R1T. The smaller pickup could start production in 2026 alongside the R2S crossover. No major changes would be expected on the R2 vehicles in this decade.

R2S: Scaringe in May gave a sneak peek of an R2 vehicle — hidden with a black cover — in a social media post. The shape was similar to a boxy compact crossover, such as the Ford Bronco Sport. The R2S is likely to have similar styling as the R1S. Scaringe has said R2 vehicles will use Rivian's Enduro motor and LFP batteries. AutoForecast Solutions said an early 2026 production target may be ambitious, given delays in breaking ground on the planned Georgia factory.

"There had been another model planned to follow the R2S, which was a less-than-traditional SUV, but things have been quiet on it lately," AutoForecast Solutions added.