Rivian (NASDAQ:RIVN) is working on new versions of its upcoming R2 electric vehicle lineup, according to comments from the company’s chief executive reported by Reuters, shortly after Rivian began volume production of the lower-cost SUV platform.
The automaker, which built its reputation around premium R1 electric pickups and SUVs, is targeting initial deliveries of the R2 model around June, Reuters said.
Georgia facility to support future R2 expansion
Rivian is reportedly developing multiple configurations of the R2 platform at its manufacturing facility in Georgia, where production capacity for the vehicle family is expected to expand over time.
Chief executive RJ Scaringe did not provide additional details regarding the planned variants or their specifications.
EV demand pressured after tax credit cuts
Demand for electric vehicles in the United States weakened following the removal of several major tax incentives last year.
However, higher fuel prices linked to the conflict in the Middle East have contributed to renewed consumer interest in electric vehicles since March, helping support sentiment across the sector.