Rivian R2 Arrives With 656 Horsepower and a $45,000 Promise

Rivian today pulled back the curtain on the R2, the midsize SUV the company is counting on to transform it from a niche truck maker into a mainstream electric vehicle brand. Two years after the original concept reveal, the full pricing, performance specs, and trim lineup are finally public — and the picture is more layered than a single sticker price suggests.

The first R2 to reach customers will be the Performance trim, also referred to as the Launch Edition, starting at $57,990 plus a $1,495 delivery charge. Powered by a 656-horsepower dual-motor, all-wheel drive powertrain, it carries an approximately 87-kilowatt-hour battery, up to 330 miles of range, and a 0-60 mph time of 3.5 seconds. A semi-active suspension rounds out the performance package. Production is expected to begin in mid-2026.

Next in line is the R2 Premium, priced at $53,990 and slated for late 2026. It retains the 330-mile range but steps down to 450 horsepower and swaps the semi-active setup for a standard suspension. Buyers who hold out for the base R2 Standard, the single-motor model targeting a $45,000 starting price, will need to wait until late 2027.

That sequencing is a familiar EV industry playbook: launch with a high-margin performance variant to fund production scale, then introduce the more affordable trim that actually captures the mass market. The $45,000 price point has been the figure Rivian has dangled since the R2 was first teased, and it carries significant weight in a segment where federal tax credits and household budget limits define the addressable market.

The R2 also brings practical features designed to broaden its appeal beyond performance metrics. Front seats fold completely flat for car camping, and the rear window drops fully into the tailgate. Native NACS charging support means R2 buyers can access Tesla's Supercharger network immediately, removing one of the persistent friction points for new EV owners.

The stakes for Rivian are substantial. The company is banking on the R2 platform, alongside its developing autonomy stack, to reach profitability by the end of 2026. For a manufacturer that has burned through capital building out its Normal, Illinois factory and premium R1 lineup, the R2 represents the first genuine attempt to compete in the volume segment of the EV market.

To sharpen the positioning as the R2 launches, Rivian is simultaneously clearing R1 inventory with an aggressive final lease offer: 2026 R1 Dual Standard units at $749 per month for 36 months with an additional $3,000 off, contingent on lease approval by March 19 and vehicle delivery by March 31. The R1T Dual currently lists at $79,990 and the R1S Dual at $83,990, a price gap that now frames the R2 as unambiguously the accessible entry point into the Rivian ecosystem.

Whether the R2 can deliver on its $45,000 base promise at scale, and whether that base trim arrives before 2028, will determine how much of the broader EV market Rivian can actually claim.