Rivian Automotive (RIVN) formally introduced its R2 mid-size electric SUV on Thursday.
The electric vehicle maker said R2 deliveries will start this spring, beginning with the R2 Performance with Launch Package (starting at $57,990), followed by additional premium configurations in late 2026 and standard configurations in 2027 with a starting price of $46,495. The R2 lineup will offer up to 656 horsepower, 0–60 mph in as quick as 3.6 seconds, while offering a Rivian-estimated range of up to 345 miles. Standard features will include a native NACS charging port and Autonomy+ hardware.
“R2 embodies so many of our learnings that we have accumulated—the passion and attention to detail from our team is visible everywhere,” highlighted Rivian (RIVN) CEO RJ Scaringe.
Benchmark Capital sees the R2 launch as a positive for Rivian (RIVN). “We view the event as an important demand signal and proof point for manufacturing execution,” updated analyst Mickey Legg.
In Car and Driver’s review of the R2, the model was noted to have more rear-seat space than rivals such as the Ford (F) Mustang Mach-E and the Tesla (TSLA) Model Y. The model was also said to have reasonable off-roading abilities.
Rivian (RIVN) plans to show off the model at the SXSW festival in Austin, Texas, today.
Shares of Rivian (RIVN) were down 3.5% in late morning trading.