That's about triple Rivian's sales last year of the R1T truck and R1S SUV. It's an ambitious target for its first mass-market product.
Rivian plans to make up to 155,000 R2 SUVs annually at its plant in Normal, Illinois, the electric vehicle startup said on Tuesday. It shows just how much Rivian expects the upcoming model to juice its sales and addressable market. In its first-quarter earnings report on Tuesday, the EV maker said that upcoming upgrades to its Illinois factory would yield a total production capacity of 215,000 units.
It seems like production won't improve meaningfully until R2 production is in full swing. Then, Rivian expects sales to take off, pretty much exclusively on the back of the R2. Still, Rivian will have some flexibility in how it achieves that 215,000 units of production, explained company CFO Claire McDonough. The plant will be set up to produce a maximum of 85,000 R1 vehicles, a maximum of 65,000 commercial vans and the aforementioned 155,000 R2s, she said.
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