Rivian R2, Europe Expansion, and Autonomy Plans Highlighted by CEO RJ Scaringe

R2 on Track

The $45,000 R2 is Rivian’s biggest program yet, broadening the brand beyond the $90,000 R1T and R1S. Validation builds are underway, with deliveries still targeted for the first half of 2026. RJ called the R2 the most exciting product Rivian has ever developed.

Production and Europe

The Illinois plant will build up to 150,000 R2s per year, alongside R1 and commercial vans. Rivian is preparing suppliers early to avoid the launch struggles it faced with R1. R2 and R3 were designed for Europe, and with US-EU tariffs at 0%, Rivian plans to expand overseas.

R1 and Vans

The R1 remains the top-selling premium electric SUV in the US, with strong demand for new tri- and quad-motor trims. Amazon’s 100,000-van order is still in progress, and Rivian expects broader fleet adoption over time as costs favor EVs.

VW Partnership

RJ spent significant time on Rivian’s electrical and electronic architecture, calling it one of the company’s biggest strengths. Unlike most automakers that still rely on 100+ small ECUs, Rivian vehicles run on just three central computers with fully in-house software.

Volkswagen’s $5.8 billion partnership validates that approach, with the upcoming VW ID.1 set to showcase Rivian’s scalable architecture. RJ said Rivian may license the platform to more OEMs in the future, noting that outside of Tesla, Rivian is the only Western automaker with this level of tech.

Autonomy

Rivian plans to launch situational Level 3 autonomy in 2026, starting with limited scenarios like traffic jams. RJ believes by 2030, customers will expect vehicles that can drive fully point-to-point with hands and eyes off.

He highlighted Rivian’s AI-driven approach, where a fleet-trained foundation model learns driving end-to-end rather than relying on human-coded rules. This, he argued, will accelerate progress dramatically over the next five years. Rivian is hosting an AI Day in December to showcase more.

Financial Outlook

Despite EV incentives like the $7,500 credit set to phase out, Rivian still expects to hit adjusted EBITDA breakeven in 2027. RJ said the R2’s lower cost structure was designed with reduced incentives in mind, supporting healthy margins even without subsidies.