R2 update per Q2 2025 earnings report

Electric Rivilution · Aug 5, 2025

During the second quarter we made significant progress towards our development of R2, and advancements in AI. Due to our sourcing efforts and contracts we have in place, we are confident R2 will launch at an advantaged cost structure as compared to R1 and expect it to have a quick path to positive gross profit.

We made progress on our R2 platform and are currently producing design validation vehicles primarily using production tooled parts. We believe R2 will embody the performance, capability, utility, and experience of the Rivian brand, but at a significantly lower price point than R1. We have substantially completed the facilities expansion in Normal, Illinois and have begun installing manufacturing equipment which is designed to manufacture up to 155,000 R2 vehicles annually.

In addition to the model year cutover, at the end of the second quarter, we took one week of downtime in the Normal Plant to complete the first phase of the paint shop upgrade in preparation for R2. Starting in September, we expect the production lines to be down for approximately three weeks as we increase the annual production capacity of the Normal Plant to approximately 215,000 units. We anticipate the third quarter to be our highest delivery quarter for the year across both our consumer and commercial vehicles.

From the Q2 shareholder letter -- https://downloads.ctfassets.net/2md...1c6b361/EX_-_99.2_2Q25_Shareholder_Letter.pdf

AlphaSnowbordergirl · Aug 5, 2025

I need to know a date of anything RJ! When is it coming out. When is the configurator coming out. They wouldn't tell us reservation numbers either.

They also mentioned that the premium version will be first which confirms the first configuration being top end (we speculated that but some people hoped dual motor max would be first) and still mentioned a 45k version at the low end.

SANZC02 · Aug 5, 2025

Electric Rivilution said:
During the second quarter we made significant progress towards our development of R2, and advancements in AI. Due to our sourcing efforts and contracts we have in place, we are confident R2 will launch at an advantaged cost structure as compared to R1 and expect it to have a quick path to positive gross profit.

We made progress on our R2 platform and are currently producing design validation vehicles primarily using production tooled parts. We believe R2 will embody the performance, capability, utility, and experience of the Rivian brand, but at a significantly lower price point than R1. We have substantially completed the facilities expansion in Normal, Illinois and have begun installing manufacturing equipment which is designed to manufacture up to 155,000 R2 vehicles annually.

In addition to the model year cutover, at the end of the second quarter, we took one week of downtime in the Normal Plant to complete the first phase of the paint shop upgrade in preparation for R2. Starting in September, we expect the production lines to be down for approximately three weeks as we increase the annual production capacity of the Normal Plant to approximately 215,000 units. We anticipate the third quarter to be our highest delivery quarter for the year across both our consumer and commercial vehicles.

From the Q2 shareholder letter -- https://downloads.ctfassets.net/2md...1c6b361/EX_-_99.2_2Q25_Shareholder_Letter.pdf

One thing stated during question and answer period by Javier Varela was the sourcing for R2 is 100% complete.

Rade · Aug 6, 2025

The last weekend of September 2024, we went to a Rivian Experience center in Boston. We got to test drive an R1T and kept our guide busy with WAY more questions than we ever could have thought possible (my husband is good at these things). When we came home that afternoon, we configured and ordered our R1T.

We have "reserved" our R2. The only caveat we have is - we what to see one in person. It looks good in the videos. The vloggers we follow all seem to feel it will be the game changer for the future of affordable, yet well appointed EV's. But until we can actually see one, sit in it, perhaps test drive one...

Let's hope they roll out demo models soon.

Sgt Beavis · Aug 6, 2025

Rade said:
The last weekend of September 2024, we went to a Rivian Experience center in Boston. We got to test drive an R1T and kept our guide busy with WAY more questions than we ever could have thought possible (my husband is good at these things). When we came home that afternoon, we configured and ordered our R1T.

We have "reserved" our R2. The only caveat we have is - we what to see one in person. It looks good in the videos. The vloggers we follow all seem to feel it will be the game changer for the future of affordable, yet well appointed EV's. But until we can actually see one, sit in it, perhaps test drive one...

Let's hope they roll out demo models soon.

Keep an eye on your Boston space. They’ve had the R2 and R3 on display at the Denver space on multiple occasions. They let us get up close and touch both vehicles. The only thing they wouldn’t let us do is open the doors and sit in them. But they did let us stick our heads in the window. That said, it absolutely looks as good in person as in the videos. The R3 looks even better.

Rade · Aug 6, 2025

Sgt Beavis said:
Keep an eye on your Boston space. They’ve had the R2 and R3 on display at the Denver space on multiple occasions.

Will do!!! Thanks for the heads up!!!

kurtlikevonnegut · Aug 6, 2025

I'm not shocked that they are starting with high trim levels to drive ASP up, but I do think there are diminishing returns there if the ASP is so high that it reduces demand beyond maximum production capacity and/or cannibalizes sales from low end R1 models. I'm hopeful that there's a moderate gap in price between a top end R2 and an entry level R1.

I think they will struggle to move everything they build in the high 60 to low 70 thousand price range, I just don't think there is a huge market for a 2 row compact SUV at $65k and up even if it's a high performance variant. I'm hopeful that R2 tops out in the low 60s for the Tri-Motor Ascent.

Rade · Aug 6, 2025

kurtlikevonnegut said:
I'm not shocked that they are starting with high trim levels to drive ASP up, but I do think there are diminishing returns there if the ASP is so high that it reduces demand beyond maximum production capacity and/or cannibalizes sales from low end R1 models. I'm hopeful that there's a moderate gap in price between a top end R2 and an entry level R1.

Agreed. I hope they don't start with a Max Pack Quad Motor blah blah blah when working class folk and retirees are just anxiously awaiting something reasonably affordable.

mkg3 · Aug 6, 2025

I would not expect Sri-motor variant. That would kill both the tri and quad R1S.

Do expect dual motor max pack as the premium launch edition at mid $60sK.

The bulk of R2 volume probably will come from dual motor large pack with roughly 300~320 miles range at mid to upper $50sK.

The $45K base is probably a stripped down single motor standard pack with range of 250 miles.

VandalSibs · Aug 6, 2025

We're assuming there is gonna be the same three battery pack choices for R2. I would actually imagine that there will be only two - Standard and Large. For a "max" pack situation to get up to a 400+ mile range is gonna make something the size of the R2 waaaay too heavy. I just don't see it.

This is all my personal thoughts and guesses though. Maybe I've missed some report or something from the announcement last year?

Great Gatsby · Aug 6, 2025

mkg3 said:
I would not expect Sri-motor variant. That would kill both the tri and quad R1S.

Do expect dual motor max pack as the premium launch edition at mid $60sK.

The bulk of R2 volume probably will come from dual motor large pack with roughly 300~320 miles range at mid to upper $50sK.

The $45K base is probably a stripped down single motor standard pack with range of 250 miles.

They have very much advertised a tri-motor variant. It would also not "kill" the tri and quad R1S. They have done a good job at differentiating the vehicles. Air suspension, towing capacity, vehicle size (3rd row), automated frunk, range - all things the R1S will have and/or do better. Makes sense that the R2 can likely be their playground for performance given its smaller size.

The tri will likely be the top end for the R2. Given that they are targeting the Model Y, the price range of $45k-$65k makes sense if they want to be competitive in the space.

jeeden · Aug 6, 2025

We love our R1S LE and I technically reserved my R2 before it rolled out on stage as soon as the website opened. I am hoping for a factory pickup this time. That said, as much coin as I am willing to muster toward it, it will be a second vehicle (actually 4th when you consider some older vehicles the teens are driving) and I wouldn't be able to handle much above 50k.

I get they want to maximize profits and they can't do the bare bones version for 45k out of the gate, but if it comes out over 50K every headline will be about how Rivian's "$45k compact EV is actually $5xK" and the press will be pretty bad I think. ESPECIALLY if the Fords that get unveilied in a week are as cheap as they say they are going to be (that's a big IF on product and price for Ford of course)

IMO the R2 pricing needs to mirror the Bronco's pricing almost exactly which is starting at 46k, most are 50K and then you can get the loaded up 60+K. They don't have to start with the 46, but they CAN'T start with the 60+

mkg3 · Aug 6, 2025

VandalSibs said:
We're assuming there is gonna be the same three battery pack choices for R2. I would actually imagine that there will be only two - Standard and Large. For a "max" pack situation to get up to a 400+ mile range is gonna make something the size of the R2 waaaay too heavy. I just don't see it.

This is all my personal thoughts and guesses though. Maybe I've missed some report or something from the announcement last year?

During the earnings call, RJ talked about the R2 when one of the analysts asked about it. He said essentially that the $45K is the base model with mid and high level offerings. He further said that the initial R2 will be the premium version. The replay is available online so you can listen for yourself, if you so desire.

They may not call it standard, large and max but it makes it easy for folks here at the form to get the point that about the differentiation - that's all.

VandalSibs · Aug 6, 2025

That might be in regards to motor count, not pack size..... but we'll find out at some point, I guess!

mkg3 · Aug 6, 2025

Great Gatsby said:
They have very much advertised a tri-motor variant. It would also not "kill" the tri and quad R1S. They have done a good job at differentiating the vehicles. Air suspension, towing capacity, vehicle size (3rd row), automated frunk, range - all things the R1S will have and/or do better. Makes sense that the R2 can likely be their playground for performance given its smaller size.

The tri will likely be the top end for the R2. Given that they are targeting the Model Y, the price range of $45k-$65k makes sense if they want to be competitive in the space.

Very much appreciate what has been said. When that was said, the EV topology was very different with incentives and the market demand for EVs.

I don't doubt what you are saying. I am saying something different. The original comment was made with the majority of peoples's purchasing decisions and the cost of vehicles.

Vast majority of people are not enthusiasts or those that are looking for particular features. Yes, agree that there is a quite a bit of difference, if one is looking for size, seating and ultimate performance. The question is that most people who wants tri/quad-motor R1S is looking for "ultimate" SUV vehicle or something close that costs $40K less.

R2 update per Q2 2025 earnings report

Electric Rivilution

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AlphaSnowbordergirl

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SANZC02

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Rade

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Sgt Beavis

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Rade

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Rade

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