Rivian Automotive said Thursday it will begin selling its pivotal R2 midsize electric vehicle in spring 2026 with a higher-priced “Launch Package” model starting at $57,990, kicking off the rollout ahead of the lower-cost versions the company has pitched as a broader-market play.
Launch Package Leads the Lineup
The first R2 variant will be a performance-focused model offering dual motors, all-wheel drive, and an estimated 330-mile range. Rivian said the Launch Package will deliver 656 horsepower and 609 lb-ft of torque, with 0–60 mph acceleration in as quick as 3.6 seconds.
The model also includes “lifetime” access to Autonomy+, Rivian’s advanced driver-assistance suite. The company is targeting more capable hands-free features over time, a push aimed at narrowing the gap with Tesla as driver-assistance becomes a major purchase consideration in the EV market.
Cheaper R2 Versions Arrive Later
Rivian has marketed an entry point around $45,000, but said that version will not arrive until late 2027. In the meantime, Rivian outlined a stepped rollout.
Late 2026 brings an R2 Premium starting at $53,990, with dual-motor AWD and up to 330 miles of range. Rivian said it will produce 450 horsepower and 537 lb-ft of torque.
First half of 2027 adds an R2 Standard starting at $48,490, shifting to rear-wheel drive with 350 horsepower and 355 lb-ft of torque. Rivian said this version can reach up to 345 miles of range.
Late 2027 is when Rivian expects the lowest-priced R2, starting at roughly $45,000. The company said it is targeting more than 275 miles of range for that model, with limited additional details disclosed.
Why the R2 Matters for Rivian’s Turnaround
The R2 is widely viewed as a critical inflection point for Rivian, which has burned billions of dollars while demand softened for its higher-priced vehicles, including the R1 SUV and pickup and its delivery van business. Rivian’s current vehicles generally start above $70,000, leaving the company exposed to a narrower band of buyers in a market where EV adoption has been slower than many automakers expected.
RJ Scaringe, Rivian’s founder and CEO, has framed R2 as a profitability and scale transition, citing reworked software, a new electrical architecture, and efforts to reduce parts complexity to improve manufacturing efficiency. Morgan Stanley analyst Andrew Percoco called R2 the company’s “key transition vehicle” toward becoming a scaled automaker, while noting near-term caution as Rivian shifts to its third-generation electrical platform.
Other analysts have been more skeptical, with concerns centered on policy and demand headwinds as R2 approaches market. Barclays analyst Dan Levy has pointed to uncertainty tied to changing incentives and costs, including the potential loss of the $7,500 federal EV credit, reduced regulatory credit dynamics, and tariff-related pressures, all against what some expect to be softer U.S. EV demand at launch.
Rivian is positioning the R2 not only against EV rivals such as the Tesla Model Y, but also against mainstream gasoline SUVs. Still, the Model Y’s lower entry price and established driver-assistance features highlight the competitive bar Rivian must clear as it expands beyond the premium segment.
Rivian said its 2026 outlook includes adjusted pretax losses of $1.8 billion to $2.1 billion and capital expenditures of $1.95 billion to $2.05 billion, compared with about $2.1 billion in adjusted pretax losses and $1.7 billion in capex last year. Shares have risen ahead of the R2 details, helped by a recent TD Cowen upgrade to buy based on its work on demand trends.