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Rivian (RIVN) Unveils R2, R3 & R3X With New Midsize Platform
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Rivian (RIVN - Free Report) launched its new midsize platform that supports the R2 and R3 product lines.
R2 is the company’s all-new midsize SUV, which blends performance, capability and utility in a five-seat package suitable for both epic adventures and daily commutes. It includes a powered rear glass that drops into the liftgate for versatile gear hauling and an open-air driving experience. Its interior boasts a user-friendly design, premium sustainable materials, and fold-flat seating for ample cargo space and car camping convenience.
R3 is a compact midsize crossover with impressive performance, road capability, passenger comfort and storage. R3’s performance variant, R3X, offers advanced performance both on and off road. Its exterior and interior designs are both iconic and inviting, reflecting Rivian's brand versatility while retaining immediate recognition.
Among the two battery sizes that will be featured in R2 and R3, the larger one will attain 300 miles of range on a single charge and will provide 0-60 mph acceleration in under three seconds for the fastest powertrain configuration.
R2’s starting price is expected to be around $45,000, while R3 will be valued on the lower side, making the vehicles affordable to more people. Rivian's development teams prioritize cost efficiency through manufacturing innovative design and building a resilient supply chain. The reservation for R2 has started in the United States and the deliveries are expected to begin in the first half of 2026. The deliveries of R3 and R3X will commence after R2. The three models will be internationally available following the North American launch.
An Efficient All-New Midsize Vehicle Platform
R2 and R3 are built on all-new midsize vehicle platform that optimizes parts through smart design. It utilizes high-pressure die castings and a structural battery unit, with simplified closure systems. R2 and R3 leverage Rivian's drive unit platform, along with internally developed network architecture, computer topology and software stack.
Rivian's R2 and R3: Features at a Glance
R2 and R3 have three motor variants that include Single-Motor (RWD), Dual-Motor (AWD), and Tri-Motor (two motors in rear and one in front). The structural battery that incorporates all-new 4695 cell offers improved energy density and output. DC fast charging supports NACS (native) and CCS (with adapter), delivering 10% to 80% charge in under 30 minutes. With the new perception stack, R2 and R3 will offer enhanced autonomous driving capabilities.
Like all Rivian vehicles, the company has designed its network architecture, computer topology and comprehensive software platform to enable regular software updates, offering exciting potential for future feature expansion.
Adaptable Design
R2 and R3 showcase RIVN's adaptable design language across varying vehicle sizes and form factors. R2’s design focuses on adventure, space and refined touches. R2 offers a unique open-air driving experience with fully drop windows and a hatch-style design in R3 ensures a spacious interior while maintaining a sporty silhouette.
Both R2 and R3 prioritize rear passenger comfort with ample legroom, fold-flat seats and generous storage solutions. Rivian introduces a new steering wheel design with integrated haptic control dials for an enhanced driving experience, complemented by durable and sustainable materials throughout the interior.
R2 Production to Take Place in Normal, Illinois Facility
Rivian aims to expedite R2's launch and reduce capital needs by starting production at its Illinois facility, enhancing operational efficiency and mitigating launch risks. This strategy boosts site capacity to 215,000 units annually while preserving the Georgia plant's role in scaling R2 and R3 production.
Total savings are projected to be more than $2.25 billion compared with the original plan of launching R2 production in Georgia. This includes reduced capital spending, product development costs and better supplier sourcing. Cash reserves are expected to cover operations until R2 production begins in the first half of 2026. Following the launch of R2 and plant adjustments, the Normal facility anticipates a total annual capacity of 215,000 units across R1T, R1S, EDV, RCV and R2.
The Zacks Consensus Estimate for MOD’s 2024 sales and earnings per share (EPS) suggests year-over-year growth of 4% and 67.2%, respectively. The EPS estimates for 2024 have improved 22 cents in the past 60 days. The EPS estimates for 2025 have improved by a penny in the past seven days.
The Zacks Consensus Estimate for GM’s 2024 sales and earnings suggests year-over-year growth of 1.8% and 17.2%, respectively. The EPS estimates for 2024 and 2025 have improved 17 cents and 32 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2024 sales and earnings suggests year-over-year growth of 2.1% and 3.2%, respectively. The EPS estimates for 2024 and 2025 have improved 67 cents and 71 cents, respectively, in the past 30 days.
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Rivian (RIVN) Unveils R2, R3 & R3X With New Midsize Platform
Rivian (RIVN - Free Report) launched its new midsize platform that supports the R2 and R3 product lines.
R2 is the company’s all-new midsize SUV, which blends performance, capability and utility in a five-seat package suitable for both epic adventures and daily commutes. It includes a powered rear glass that drops into the liftgate for versatile gear hauling and an open-air driving experience. Its interior boasts a user-friendly design, premium sustainable materials, and fold-flat seating for ample cargo space and car camping convenience.
R3 is a compact midsize crossover with impressive performance, road capability, passenger comfort and storage. R3’s performance variant, R3X, offers advanced performance both on and off road. Its exterior and interior designs are both iconic and inviting, reflecting Rivian's brand versatility while retaining immediate recognition.
Among the two battery sizes that will be featured in R2 and R3, the larger one will attain 300 miles of range on a single charge and will provide 0-60 mph acceleration in under three seconds for the fastest powertrain configuration.
R2’s starting price is expected to be around $45,000, while R3 will be valued on the lower side, making the vehicles affordable to more people. Rivian's development teams prioritize cost efficiency through manufacturing innovative design and building a resilient supply chain. The reservation for R2 has started in the United States and the deliveries are expected to begin in the first half of 2026. The deliveries of R3 and R3X will commence after R2. The three models will be internationally available following the North American launch.
An Efficient All-New Midsize Vehicle Platform
R2 and R3 are built on all-new midsize vehicle platform that optimizes parts through smart design. It utilizes high-pressure die castings and a structural battery unit, with simplified closure systems. R2 and R3 leverage Rivian's drive unit platform, along with internally developed network architecture, computer topology and software stack.
Rivian's R2 and R3: Features at a Glance
R2 and R3 have three motor variants that include Single-Motor (RWD), Dual-Motor (AWD), and Tri-Motor (two motors in rear and one in front). The structural battery that incorporates all-new 4695 cell offers improved energy density and output. DC fast charging supports NACS (native) and CCS (with adapter), delivering 10% to 80% charge in under 30 minutes. With the new perception stack, R2 and R3 will offer enhanced autonomous driving capabilities.
Like all Rivian vehicles, the company has designed its network architecture, computer topology and comprehensive software platform to enable regular software updates, offering exciting potential for future feature expansion.
Adaptable Design
R2 and R3 showcase RIVN's adaptable design language across varying vehicle sizes and form factors. R2’s design focuses on adventure, space and refined touches. R2 offers a unique open-air driving experience with fully drop windows and a hatch-style design in R3 ensures a spacious interior while maintaining a sporty silhouette.
Both R2 and R3 prioritize rear passenger comfort with ample legroom, fold-flat seats and generous storage solutions. Rivian introduces a new steering wheel design with integrated haptic control dials for an enhanced driving experience, complemented by durable and sustainable materials throughout the interior.
R2 Production to Take Place in Normal, Illinois Facility
Rivian aims to expedite R2's launch and reduce capital needs by starting production at its Illinois facility, enhancing operational efficiency and mitigating launch risks. This strategy boosts site capacity to 215,000 units annually while preserving the Georgia plant's role in scaling R2 and R3 production.
Total savings are projected to be more than $2.25 billion compared with the original plan of launching R2 production in Georgia. This includes reduced capital spending, product development costs and better supplier sourcing. Cash reserves are expected to cover operations until R2 production begins in the first half of 2026. Following the launch of R2 and plant adjustments, the Normal facility anticipates a total annual capacity of 215,000 units across R1T, R1S, EDV, RCV and R2.
Zacks Rank & Key Picks
RIVN currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the auto space are Modine Manufacturing Company (MOD - Free Report) , General Motors Company (GM - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MOD’s 2024 sales and earnings per share (EPS) suggests year-over-year growth of 4% and 67.2%, respectively. The EPS estimates for 2024 have improved 22 cents in the past 60 days. The EPS estimates for 2025 have improved by a penny in the past seven days.
The Zacks Consensus Estimate for GM’s 2024 sales and earnings suggests year-over-year growth of 1.8% and 17.2%, respectively. The EPS estimates for 2024 and 2025 have improved 17 cents and 32 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2024 sales and earnings suggests year-over-year growth of 2.1% and 3.2%, respectively. The EPS estimates for 2024 and 2025 have improved 67 cents and 71 cents, respectively, in the past 30 days.