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

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

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

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.

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

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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