The Rivian R2, the electric vehicle maker's highly anticipated affordable electric SUV, is powered by US-made batteries that promise to store six times as much energy as those currently in use.
South Korean company LG Energy Solutions announced that it will supply LG's 4695 cylinder batteries to Rivian under a five-year contract.
Within the first year of production, the batteries will be manufactured at LG's standalone factory in Arizona before being shipped to Rivian's factory in Normal, Illinois, for use in the R2 model, the company said in a statement. Both LG and Rivian reiterated their commitment to the Biden administration's Inflation Reduction Act (IRA). Under the IRA, electric vehicles with major components made in the United States are eligible for a $7,500 tax incentive when purchased or signed for a lease.
The larger size of LG's 4695-cylinder battery promises both long range and high levels of safety, while offering six times the capacity of existing 2170-cylinder batteries, LG says.
The LG battery also fits well with Rivian's plans to reduce manufacturing costs and will help keep the R2 on track to become the electric vehicle maker's cheapest mass-market model. Rivian expects battery pack assembly workmanship to improve by approximately 45% compared to the R1 platform.
Earlier this year, Rivian made the R2 available for pre-orders, with deliveries scheduled to begin in the first half of 2026. With a starting price of $45,000, Rivian is touting the R2 as its first truly accessible EV model, comparable to Tesla's “Model 3 Moment.” However, in terms of price, it competes with models like the Tesla Model Y and the Hyundai Ioniq 5.
The R2 promises 0-60 mph acceleration in under 3 seconds and an estimated range of over 300 miles. It's packed with technology that enables automated driving and also has unusual features, such as a fold-down rear window to provide an “open-air experience.”
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