Rivian Shifts R2 Production to Illinois, Aiming for 2026 Launch

The move is expected to save $2.25 billion and speed up production, with over 68,000 reservations received in less than 24 hours.

Rivian announces R2 production will start in Illinois, moving from its planned Georgia plant, aiming for a 2026 launch.
The move to Illinois is expected to save Rivian $2.25 billion and speed up the R2's launch, with the state offering additional incentives.
Rivian's R2, a more affordable electric SUV, received over 68,000 reservations in less than 24 hours after its unveiling.
Despite a challenging year with a stock decline of about 45%, Rivian's shares surged nearly 20% following the R2 announcement.
Analysts remain cautious about Rivian's ability to bring its new product line to market without additional capital, despite the recent positive developments.