Rivian Automotive announced Thursday it will launch its highly anticipated R2 midsize electric SUV this spring exclusively in a top-tier Performance trim priced at $57,990. The California-based automaker confirmed the previously heavily marketed $45,000 entry-level version is delayed until late 2027.
The pricing strategy marks a critical pivot for the company as it attempts to scale operations and compete directly with the Tesla Model Y. The higher initial entry point arrives just as the United States automotive market faces the expiration of the $7,500 federal electric vehicle tax credit and newly implemented import tariffs on auto parts.
Performance Specifications and Launch Details
The initial wave of R2 deliveries will consist entirely of the Performance variant. This model features a dual-motor, all-wheel-drive configuration producing 656 horsepower.
Rivian stated the $57,990 SUV accelerates from zero to 60 miles per hour in 3.6 seconds and provides an estimated driving range of up to 330 miles on a single charge.
The delayed $45,000 R2 Standard model will eventually feature a smaller battery pack and a rear-wheel-drive setup.
Market Strategy and Pre-Order Backlog
Rivian currently holds over 100,000 reservations for the R2 platform. Financial analysts tracking the industry note a large portion of those initial deposits were placed by consumers anticipating an effective $37,500 purchase price, calculating the $45,000 base cost minus the now-defunct federal tax subsidy.
Rivian Chief Executive Officer RJ Scaringe has previously categorized the R2 rollout as the definitive inflection point for the automaker. The company requires a high-volume product to offset the heavy initial production costs associated with its premium R1 series trucks and SUVs, which can retail for more than $100,000.