During their Q2 earnings call RJ Scaringe touched on some things about the new R2 platform that will be coming.
  • The R2 platform will meet the pricing requirements of the Inflation Reduction Act (IRA)
  • R2 platform will launch in 2025 at the Rivian Georgia facility
  • Rivian is spending $2 billion through 2025
  • Rivian has been planning for the R2's long term supply chain.

Yet, the R2 platform may become a priority as incentives expect to ramp up EV demand. The company said it’s confident in its funding ($15 billion in cash and equivalents) to launch the R2 platform.

Rivian’s CEO, when asked about supply chain difficulties with the R2 platform, responded:
That’s been something that’s been work underway for quite some time. And as we have contemplated and planned for the long-term supply chain for R2, we have always looked at it through the lens of making sure we had domestic supply chain to support the ramp-up of that product.
Meanwhile, the company’s CFO, Claire McDonough, explained that Rivian is planning capital spending (CapEx) around the low $2 billion through 2025 and added that the spending
Allows us to continue to invest in the expansion of our plant in Normal, Illinois, where right now we are adding our in-sourced motor production lines. It also entails us the opportunity to invest in the first 200,000 units of capacity for R2 in Georgia.
In the meantime, Rivian is focusing on working out the production knots and ramping production of its R1 series. Rivian has significant plans for growing its EV market share, and there’s no doubt the R2 platform will play a major role. But, the company will have plenty of hurdles to clear before it arrives. Let’s see if the company can first hit its goal of producing 25,000 units this year.