Rivian Unveils More Affordable R2 Electric SUV Starting Under $40K, Aiming for 2026 Production
- Rivian unveils new, cheaper R2 SUV priced around $40,000, qualifying for $7,500 EV tax credit
- R2 production to begin in 2026 at Rivian's Georgia factory
- Aims to fill gap in EV market between $45,000-$55,000 price range
- Rivian stock gets buy rating from Jefferies; shares up ahead of R2 reveal
- Q4 earnings miss estimates; 2024 production target unchanged at 57,000 vehicles