Electric vehicle maker Rivian Automotive Inc (NASDAQ:RIVN) on Thursday unveiled pricing and specifications for its upcoming R2 midsize electric SUV, with models starting at about $45,000 as the company seeks to broaden its lineup and appeal to a wider market.
The company said deliveries will begin in spring 2026 with the R2 Performance trim with Launch Package, priced from $57,990. Additional Premium versions are expected in late 2026, while lower-priced Standard models are slated to arrive through 2027.
The R2 is built on a new midsize platform and represents a more affordable offering than Rivian’s current flagship vehicles, the Rivian R1S SUV and Rivian R1T pickup, while retaining the company’s design and performance features.
“We wanted R2 to embody everything we’ve learned as a company,” said RJ Scaringe, Rivian’s CEO, in a statement.
The top-end Performance model features dual motors producing 656 horsepower and can accelerate from 0 to 60 miles per hour in 3.6 seconds. Rivian estimates a driving range of about 330 miles from an 88-kilowatt-hour battery pack, with charging from 10% to 80% in roughly 29 minutes.
A Premium version starting at $53,990 will also offer dual motors but with lower output of about 450 horsepower and a slightly slower 0–60 mph time of 4.6 seconds. Both trims have a towing capacity of 4,400 pounds and come equipped with a North American Charging Standard port.
Rivian also outlined two lower-priced Standard trims. A rear-wheel-drive model starting at $48,490 will offer up to 345 miles of range and deliveries beginning in 2027. Another entry-level configuration priced at about $45,000, with a range of roughly 275 miles, is expected to arrive later that year.
All variants share the same body dimensions, measuring about 186 inches in length with 9.6 inches of ground clearance and more than 90 cubic feet of total storage capacity.
The automaker said reservations for the R2 are open with a $100 refundable deposit. The vehicle will also be showcased publicly at the SXSW festival in Austin from March 13 to 18, where Rivian is serving as a headline sponsor.
Analysts at UBS said the initial launch version is expected to compete closely with vehicles such as the Tesla Model Y Performance, which starts at roughly $57,500.
Shares of Rivian were down about 6.8% in Thursday afternoon trading.