Rivian unveils final specs for the R2, a critical mid-size SUV starting at $45,000. Designed to rival the Tesla Model Y, the R2 features 300+ miles of range and high-tech internals to secure the startup's future.
Rivian CEO RJ Scaringe justifies the $25 billion spent over eight years, viewing it as a necessary investment to establish the brand and prepare for the high-volume launch of the R2 SUV.
Rivian aims for profitability by minimizing manufacturing costs on the upcoming R2, using fewer parts and simplified assembly, targeting the competitive EV crossover market dominated by Tesla Model Y. Increased factory output is also planned.
