Their first-quarter earnings report revealed plans to significantly increase production, with a big focus on their new R2 SUV.

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Rivian's Illinois factory is getting a major upgrade, allowing them to build a whopping 215,000 vehicles per year.

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This includes not just the new R2, but also their existing R1 pickup truck, R1S SUV, and commercial delivery vans.

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The R2, unveiled in March, is a game-changer for Rivian. This $45,000 crossover SUV takes aim at the heart of the American car market, going head-to-head with Tesla's popular Model Y.

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Compared to Rivian's pricier R1 models, the R2 is expected to reach a much wider audience and boost their financial stability.

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They're perfectly positioned to win big in the booming electric vehicle market, especially with this strategically priced and designed offering.

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