Yahoo Autos 2026 Rivian R2 will have a more powerful battery - who is leading its development?
Rivian is having rookie success as an American EV startup that saw it move nearly 50,000 units in its first full calendar year for 2023. It’s projected to sell even more vehicles before the end of 2024, which is impressive considering it only has two models in its portfolio, the R1S and R1T.
Despite this, Rivian has struggled to report a profit. That may change as the lineup will eventually undergo an expansion effort courtesy of smaller utes dubbed the R3 and the R2, the latter of which we've learned will turn to a third party when it comes to battery manufacturing. LG Energy Solution, the prolific ex-smartphone maker, will supply 4695 cylindrical batteries to support the platform of Rivian’s inbound new models.
Breakthrough battery architecture
Rivian
Dubbed the 46 series, this is the latest generation of cylindrical batteries and is set to eventually replace the current 2170 units. With a 46mm diameter and 95mm height, these batteries boast six times the energy capacity, leveraging their larger size to achieve higher energy density, improved space efficiency, and enhanced safety. That last part is captivating attention across the industry because of how EV batteries react in a vehicular crash.
The 4695 cylindrical batteries will empower Rivian’s vision of long range, durability, and efficiency with the R2 and potential future models. It will also aid the company’s long-term plan to use fewer parts per vehicle with an emphasis on efficiency. This will also reduce production costs, which lowers the company’s bottom line and passes the savings on to consumers who will soon be able to buy Rivian’s most affordable model yet.
Joint venture benefits both
LG Energy Solution
This joint venture means the South Korea-based LG Energy Solution will see a greater presence in the United States.
“Due to the dynamic nature of the current EV market, an increasing number of global automakers are demonstrating a strong preference for a diverse range of battery form factors," said David Kim, the company’s CEO. "This large-scale order from Rivian for 4695 batteries marks a key milestone for LG Energy Solution in expanding its client base within the cylindrical battery segment.”
For the first year, the new batteries will be produced at LG’s brand-new facility in Queen Creek, AZ before they’re shipped out to Rivian’s plant in Normal, IL. The supply agreement is expected to last five years, with both companies ensuring their commitment to the Inflation Reduction Act, which guarantees a $7,500 tax credit for EVs with key parts made in the United States.
Rivian
Final thoughts
Presently, Rivian’s R1 utes qualify for half that amount. The R2 platform will target contemporary rivals such as the Tesla Model Y and the Hyundai Ioniq 5, both coming in at a considerably lower price point. At the time of writing, Rivian says the 2026 R2 will start at $45,000.
Nonetheless, the 46 series cylindrical batteries are making waves in the industry. LG Energy Solution may accommodate more carmakers in the future if the Rivian partnership is successful in bringing the R2 to market.
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