Rivian launches new model R2 to speed up market launch and save money

Rivian unveiled the smaller, lower-priced R2 last month, with a starting price of about $45,000. CEO RJ Scaringe also unveiled the smaller, lower-priced R3, similar to Steve Jobs' "One More Thing." 24 hours after the order was opened, Rivian received more than 68,000 orders for the R2. Rivian's decision to produce the R2 at its Normal plant instead of building a new $5 billion plant in Georgia will speed up the R2's time to market and save the company $2.25 billion.