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Rivian is gearing up to reveal its Rivian R2 in the coming weeks, bringing with it exciting details ahead of the launch. Notably, Rivian has confirmed that the R2 will be available in Europe, signaling an expansion of its market beyond North America.
The official Rivian R2 page outlines the company’s plan to release the EV in Europe, with specific details to be disclosed during the vehicle’s unveiling on March 7, 2024, at 19:00 CET. While pricing and delivery times for the United States and Canada will be unveiled during the event, additional information regarding the R2’s European release is promised for the future.
The estimated cost of the Rivian R2 SUV falls within the range of $40,000 to $60,000. Rivian’s Chief Financial Officer, Claire McDonough, previously discussed the pricing strategy with Deutsche Bank’s Emmanuel Rosner, stating that the R2 is positioned to compete in the midsize SUV crossover market, targeting the price range of $40,000 to $60,000.
Rivian recently implemented price reductions for its entry-level R1T and R1S models, reducing the cost by $3,100 for each vehicle. After the adjustments, the base models of the Rivian R1T and R1S are priced at $71,700 and $76,700, respectively.
Considering the recent price cuts on the R1 vehicles, McDonough’s projections for the R2’s price range align with expectations. The speculated $40,000 to $60,000 price bracket for the R2 positions it as a more affordable option compared to the R1 vehicles. Additionally, there are speculations that the R2 may qualify for tax incentives under the Inflation Reduction Act (IRA), providing potential buyers with further cost reductions.
The live-streamed R2 reveal will take place at the Rivian Theater in Laguna Beach, as documented by the Laguna Beach City Council. As Rivian continues to expand its EV lineup and global presence, the R2’s unveiling marks a significant step forward for the company in the rapidly evolving electric vehicle market.
Courtesy of EVANNEX.
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