Rivian Automotive (RIVN) is poised to show off the new R2 model this week at SXSW in Austin, with pricing, specs, and public ride experiences scheduled around the week-long event.
Earlier guidance framed the R2 as Rivian’s (RIVN) mass-market mid-size SUV positioned below the R1. The R2 itself is a two-row, five-seat mid-size SUV built on a new structural battery pack with cylindrical cells and offered with single-motor rear drive plus dual- and tri-motor all-wheel-drive configurations, with Rivian citing sub-3-second 0–60 mph capability. Pricing is expected to be competitive with electric SUVs like the Tesla (TSLA) Model Y, Hyundai (HYMTF) Ioniq 5, and Ford (F) Mach-E.
Rivian (RIVN) has suggested that it expects total R2 deliveries in the mid‑tens of thousands. The first customer deliveries are expected to be made in June.
Ahead of the R2 launch, Morgan Stanley analyst Andrew Percoco noted that the vehicle will be key in driving scale and profitability for the electric vehicle maker. The firm remains cautious on near-term demand for Rivian (RIVN) but sees it as fairly well positioned to gain share once Gen 3 hardware and autonomy have been integrated into the vehicle.
Notably, Rivian is now inviting people to “meet the full lineup” at SXSW on March 12 in an indication that other models could be revealed.