- Rivian applied for a loan with the U.S. Department of Energy to restart construction on its Georgia mega plant.
- In the filing, Rivian said that mass production is scheduled to begin in late 2028.
- The Georgia factory will assemble the R2 and R3 SUVs; it will have a total capacity of 400,000 units per year.
Rivian is known for its adventure-focused R1S SUV and R1T pickup, but they’re not exactly cheap, with the most affordable model coming in at $69,900 without shipping. That’s why the smaller and cheaper R2 and R3 models have a lot riding on their shoulders.
When they were unveiled in March, people went crazy for them. Rivian claimed it received “well over 100,000” preorders for the $45,000 R2 SUV, so it was clear that the California startup had a winner on its hands.
But however attractive and surrounded with early success the R2 may be, it won’t hit the streets until 2026 in limited numbers. At first, it will be manufactured at the same Normal, Illinois plant that assembles the R1S, R1T and RCV, but the bigger bet placed by Rivian is in Georgia.
There, the RJ Scaringe-led automaker is building a brand-new $5 billion mega plant capable of churning out up to 400,000 vehicles every year–enough for Rivian to become a truly global player. But there’s one problem. Construction on the Georgia factory is on pause and, according to a recent loan filing with the U.S. Department of Energy, it won’t be ready for mass-production until the end of 2028.
Initially, production of the R2 was supposed to start at the new Georgia plant in 2026, but Rivian switched things around and decided to use the same former Mitsubishi factory in Illinois to start manufacturing what is widely regarded as a great Tesla Model Y competitor. In the process, Rivian is saving over $2.25 billion, which is a lot of money however you look at it, but it’s even more important for a startup that’s still losing cash on every car it sells.
Gallery: Rivian R2
The fact that a supply issue crippled the company in the third quarter, forcing it to deliver barely over 10,000 units, isn’t great, either. As a result, Rivian has revised its production and delivery targets for 2024–it now expects to manufacture between 47,000 and 49,000 vehicles and deliver between 50,500 and 52,000 EVs. That’s lower than last year’s total production and delivery figures of 57,232 and 50,122 units, respectively.
Two years until the R2 will start rolling off the assembly line is still a long time to wait, and four years feels like an eternity. Granted, the R1S and R1T got a significant makeover this year, but people want more affordable EVs, and the clock is ticking.
