Rivian R2 unveiled a $45,000 electric off-roader
Rivian, the R2, and its Legacy Vehicles: The Case for an Ultra-Reliable Power-Function-Energy Company
Rivian is also revealing the R2 during an especially tumultuous time — for itself and the entire auto industry. EV sales are up, but the growth has slowed as more people are hesitant to switch to EV charging reliability and high prices. Rivian is in a cash crunch, as costs grow beyond the pace of revenue.
Rivian has a major moment with the R2. The company hopes to live long enough to see the car, but this year and next is critical if they hope to do that.
Add to the mix the groundbreaking of a new $5 billion facility in Georgia, and you have a recipe for a turbulent year for the young company. (Rivian was founded in 2009 but only came out of stealth in 2018. Its public markets debut was in 2021.
The production numbers were what triggered the stock slide. Rivian predicted that the company would produce 57,000 vehicles, below the 80,000 estimated by Wall Street and slightly below last year’s numbers.
It is an especially dangerous time for a company to be in. And Rivian lacks a financial benefactor with bottomless pockets like Lucid Motors has with Saudi Arabia’s Public Investment Fund. Amazon is the largest stakeholder in Rivian, with a 16 percent stake. After the exclusive delivery van partnership ended last year, the company’s influence over Rivian has diminished.
There will be more competition by that point and you don’t need a crystal ball to know it. Companies with a lot more experience making mass-market vehicles will have a lot more EVs for sale. Rivian needs to sell more vehicles in order to survive.
Legacy car companies have whole lineups of internal combustion engine vehicles to fall back on when times are tough. Ford, GM, and others are reporting robust hybrid sales, for example, which helps take some of the sting out of the billions they’re losing on EV development and production.
The Rivian R2 Model X: Roomy, Roomy and Space-Principles. Is the R1S Roomy?
The Rivian R2 is 188.6 inches in width, and 66.9 inches in height, which is just two inches longer than the Model Y and 15 inches shorter than the R1S. There’s a substantial frunk (front truck) — Rivian described it as “roomy.” Keeping with its “adventure” ethos, the R2 will also feature a nifty bike mount system that can connect easily with the vehicle’s rear accessory ports.
