The Rivian R2 program is three years away from manufacturing, but it surely’s already beginning to come into focus.

On Thursday, Rivian Chief Monetary Officer Claire McDonough spoke with Emmanuel Rosner from Deutsche Financial institution at an auto business convention concerning the R2’s worth and reveal timeline.

McDonough mentioned the R2 can be revealed in early 2024. The chief has frolicked within the design studio with the group and evaluated the clay fashions. Rivian CEO RJ Scaringe and design boss Jeff Hammond teased the R2 clay mannequin, which was beneath a sheet, throughout an Instagram query and reply session in Could.

Regardless of being lined, it is clear the clay mannequin represents an R2S SUV because it encompasses a boxy profile just like the R1S SUV, although it is significantly smaller. The R2S is anticipated to be concerning the dimension of the Jeep Grand Cherokee. Rivian has proven no different physique types for the R2, although it has trademarked the R2T title, indicating a potential pickup truck as effectively.

Rivian is aiming at a broader market with the R2 to attract increased volumes. McDonough mentioned pricing will straddle the $40,000-$60,000 vary. The R1S begins from about $78,000.

The CFO famous the corporate will intention to refine the associated fee foundation from manufacturing to provide chain for the R2. The automaker will begin in a distinct place when establishing contracts with suppliers than it did as a startup with no product for the R1 in 2018.

Initially, Rivian deliberate for the R2 platform to enter manufacturing in 2025, however in 2022 the corporate mentioned the smaller, inexpensive mannequin was delayed a 12 months till 2026. In 2019, Scaringe mentioned the automaker deliberate to have six fashions within the lineup by 2025.

The R2 can be constructed at Rivian’s new automobile plant being constructed close to Atlanta, Georgia. Rivian misplaced some tax breaks related to the plant that might have allowed it to keep away from paying property tax. The Georgia plant is anticipated to have an annual capability of as much as 400,000 automobiles.