Rivian Automotive [RIVN] announced that it will begin selling its highly anticipated R2 midsize electric vehicle this spring, starting with a special "Launch Package" performance model priced at approximately $57,990.
The first version of the R2 will feature dual motors, all-wheel drive, and a driving range of up to 330 miles. The vehicle delivers 656 horsepower and 609 pound-feet of torque, allowing it to accelerate from 0 to 60 mph in as little as 3.6 seconds. It will also include lifetime access to Rivian's Autonomy+ advanced driver-assistance system.
Chief Executive Officer RJ Scaringe has described the R2 as a turning point for the company after billions of dollars in losses and slowing demand for its current vehicles, including the R1 SUV and pickup.
Rivian stated that the R2 will feature redesigned software, electrical architecture, and components intended to improve efficiency and profitability.
The electric vehicle maker plans to release additional versions of the R2 lineup over the next two years, including a premium model in late 2026 and lower-priced trims beginning in 2027, with entry-level pricing expected around $45,000.
The new SUV is expected to compete with vehicles such as the Tesla Model Y, currently one of the world's best-selling electric vehicles. Analysts say the R2 could be critical to Rivian's long-term growth as the company attempts to scale production and move toward profitability.
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