Rivian Unveils More Affordable $45K R2 Crossover and Two Additional Future EVs, Aims for 2024 Profitability Despite Flat Production

Rivian revealed the R2 crossover, a more affordable EV starting at $45,000 that could appeal to a broader consumer base
The R2 will have up to 330 miles of range and room for 5 passengers, similar in size to the popular Tesla Model Y
Rivian surprised investors by announcing two additional future vehicles the R3 crossover and a R3X performance version
Rivian is accelerating R2 production timeline, with manufacturing beginning in early 2026 instead of waiting for its Georgia factory
Cost-cutting efforts and lower lithium prices could help Rivian reach gross profitability in late 2024 despite flat production projections