Rivian Unveils More Affordable $45K R2 SUV, Plus New Models; Stock Rebounds on Illinois Plant for Faster, Cheaper Launch

Rivian announced its new R2 EV SUV, a more affordable model starting at $45,000 with over 300 miles of range
The R2 will be produced at Rivian's Illinois plant beginning in 2026 rather than the Georgia plant to accelerate launch and save costs
Rivian also introduced the R3 sedan and R3X performance crossover tri-motor models
Rivian's stock price has rebounded nearly 20% since the R2 unveiling due to positive reception
Producing the R2 in Illinois rather than Georgia allows Rivian to speed up launch while saving an estimated $2.25 billion in costs