RIVN Stock Clocks Best Day In Over 3 Months: Governor Pritzker Hails R2 As The ‘Model T Moment’ For EVs

• Pritzker also praised Rivian as “the best EV maker in the entire world.”
• Rivian began ramping up R2 production in recent weeks following earlier setbacks, including a tornado that damaged the facility.
• R2 is Rivian’s first mass-market vehicle.

Illinois Governor JB Pritzker is among the Rivian Automotive (RIVN) customers awaiting the company’s upcoming R2 midsize SUV slated to start deliveries this Spring.

Pritzker said on Tuesday that he already owns an R1 model that he uses on his farm and has preordered an R2 as his “more in-town vehicle.” Pritzker was speaking at Rivian’s plant in Normal, Illinois.

“It’s a product for the middle class,” he said about the upcoming vehicle. “It’s a product for people who haven’t otherwise been able to afford an electric vehicle in the U.S., and I’m proud it’s being made right here in Normal and in Illinois.” He further highlighted Rivian’s $1.5 billion investment to expand R2 production at the former Mitsubishi plant, now employing thousands, and the development of a nearby supplier park.

RIVN shares closed 6% higher on Wednesday, clocking its best session in nearly three months.

Model T Moment

Pritzker also praised Rivian as “the best EV maker in the entire world” and positioned the R2 — which starts below $50,000 for the base variant— as a vehicle that could broaden electric vehicle adoption in the same way the Ford Model T democratized automobiles for the middle class a century ago.

Rivian began ramping up R2 production in recent weeks following earlier setbacks, including a tornado that damaged the facility. The five-seat SUV offers up to 345 miles of range and aims to bring EVs to a wider audience than the company’s higher-priced R1 lineup.

About Rivian R2

The R2 is Rivian’s first mass-market model and is designed to compete directly with vehicles like Tesla’s best-selling Model Y. The company received more than 100,000 reservations for the vehicle after its unveiling last year.

R2’s online configurator shows three variants, namely standard, premium, and performance, priced between $48,490 and $57,990.

Deliveries will commence with the Performance variant in Spring this year, followed by the Premium variant slated for later this year, and the Standard variant, which is slated to be launched next year.

For the whole of 2026, Rivian now expects to deliver 62,000-67,000 vehicles, up from the 42,247 vehicles delivered in 2025. However, the ramp of R2 delivery will be “back-half weighted,” according to Rivian CFO Claire McDonough.

How Did RIVN Retail Traders React?

On Stocktwits, the retail sentiment around RIVN stayed in ‘neutral’ territory over the past 24 hours, while message volume jumped from ‘normal’ to ‘high’ levels.

A Stocktwits user contemplated the chances of a buyout for Rivian.

Yet another user expressed anticipation for the start of customer deliveries for the vehicle.

RIVN stock has fallen 19% over the past 12 months. 

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