Rivian Targets 20,000 To 25,000 R2 Deliveries This Year

The R2 crossover’s launch is a make-or-break moment for Rivian. The EV startup’s success largely hinges on how buyers react to its first mass-market model—and how quickly it can ramp up production.

On Thursday, the carmaker shared its rough volume expectations for the R2’s first year on the market. On Rivian’s fourth quarter earnings call, CFO Claire McDonough said the company aims to deliver 62,000-67,000 vehicles across its portfolio in 2026. She added that Rivian’s R1T, R1S and commercial van volumes will be roughly in line with last year’s numbers, which came in at a little over 42,000 units.

That means the R2 is expected to drive Rivian’s growth in 2026. Some simple math leaves us with an implied 20,000 to 25,000 units for the R2. If you’re an R2 reservation holder, that may give you some indication as to when you’ll actually be able to order a vehicle. 

Production will start in the second quarter, and McDonough said not to expect meaningful R2 volume until the back half of the year. The launch edition model will be manufactured on one shift to start, she said, with a second shift at the company’s plant in Normal, Illinois, planned for later in 2026.

Looking further ahead, Rivian founder and CEO RJ Scaringe told CNBC on Thursday that he expects the R2 will make up the “majority” of Rivian’s volume by the end of 2027. Rivian has said that its newly expanded Normal plant will have the capacity to product 215,000 units annually, including up to 155,000 R2s. Later this decade, the company plans to make R2s and future vehicles at a new plant under construction in Georgia. 

Rivian aims to deliver 62,000-67,000 vehicles this year. 

Photo by: Patrick George

Rivian has touted a $45,000 base price for the R2, about half the transaction price of the bigger, pricier R1S. But the launch edition will likely cost considerably more than that. More details of the debut model will be revealed on March 12, but Rivian has said that it will be a dual-motor, all-wheel-drive version similar to the prototype we tested earlier this month. 

The EV maker posted better than expected results for the fourth quarter, including $1.29 billion in revenue and a $120 million gross profit. It also posted its first-ever full year of gross profit. (Gross profit is a measure of profitability that excludes many of the costs that aren’t directly associated with making and selling a product.) The company’s stock soared 15% in after-hours trading on the news. 

But Rivian also warned that it expects to keep losing money in 2026: between $1.8 billion and $2.1 billion, according to its latest guidance. 

Positive early reviews of the R2 that came out this week, including ours, suggest that Rivian succeeded in shrinking down the charming, high-tech R1S into a more affordable package. And it looks like Rivian has a formidable challenger to the Tesla Model Y, America’s best-selling EV by a huge margin.

Still, success isn’t guaranteed. Rivian needs to scale up production quickly with minimal issues. The vehicle needs to click with buyers. And the company needs to overcome the loss of the $7,500 EV tax credit and a generally gloomy environment for electric car sales. 

Scaringe told InsideEVs last year that the company is far better prepared to scale up production of the R2 than it was for its debut R1T and R1S in 2021. He’s also said that what’s holding the EV market back is a lack of truly excellent options to rival the Model Y. Soon, we’ll learn if that theory holds up. 

Contact the author: Tim.Levin@InsideEVs.com

Updated Thurs Feb. 12 9:30 pm ET with additional information on Rivian’s fourth-quarter and full-year earnings.