BONUS: Rivian R2 – Full Specs, Range and Price Confirmed From $45,000

Rivian has spent four years and billions of dollars building electric vehicles that most people cannot afford. The R2 — a mid-size SUV that starts at $45,000 and tops out at $57,990 — is the company's answer to that problem. Full pricing and trim details dropped today, 12 March 2026, and deliveries of the first Performance variant begin this spring. If it works, Rivian becomes a proper carmaker. If it does not, the maths gets ugly fast.
From Concept to Concrete
The R2 platform was first announced in 2022, with production originally pencilled in for 2025 at a planned factory in Georgia. That changed in March 2024, when RJ Scaringe, Rivian's founder and chief executive, unveiled the production-ready R2 alongside the smaller R3 and R3X crossovers at a packed event at the Rivian Theater in Laguna Beach, California. Mr Scaringe also confirmed he was scrapping the Georgia plan — at least for now — and would build the R2 at the existing Normal, Illinois plant instead. That decision saved more than $2.25 billion in capital expenditure and, crucially, pulled the launch date forward.
Within 24 hours of its unveiling, Rivian had taken more than 68,000 reservations at $100 apiece. By July 2024, the company's VP of manufacturing Tim Fallon said reservations had surpassed 100,000 and were still climbing. Rivian has not updated that figure publicly since.
Production began in January 2026. Validation vehicles rolled off the Normal line first, and the factory is now ramping toward a target capacity of 155,000 R2 units per year — alongside the R1 models it already builds there. Each R2 takes roughly 15 hours to assemble, down from 18 hours for an R1.
Why the R2 Matters More Than Any Vehicle Rivian Has Built
The R1T pickup and R1S SUV earned Rivian a devoted following and the top spot in Consumer Reports owner satisfaction surveys. They also bled money. Rivian posted a net loss of $3.65 billion in 2025, on top of a $4.75 billion loss in 2024. The R1S starts near $75,000 (around £59,000) — a price that limits the addressable market to a sliver of American buyers.
"R2 is really instrumental for driving the business to positive cash flow and overall profitability," Mr Scaringe told CNBC in February. He was not exaggerating. The bill of materials for the R2 is roughly half that of the R1. Rivian slashed the number of computing units from over 60 in a traditional vehicle to seven, and cut wiring length by about two miles (3.2 km). The result is what Mr Scaringe called "a dramatic reduction in the cost structure to build it."
Rivian did scrape together a positive gross profit in the fourth quarter of 2025 — a milestone, though the margin was wafer-thin at around 2%, compared with Tesla's 17%. 
The R2, with its leaner architecture and lower price, is meant to close that gap at volume. Analysts expect around 15,000 R2 deliveries in 2026, though some believe Rivian could exceed that figure. By 2027, with three full shifts running, the Normal plant could produce roughly 155,000 R2s annually.
Today's Pricing: What You Get
The lineup spans four trims, all sharing an 87.9 kWh usable battery and a $1,495 destination charge. Here is how they break down:
The Performance trim arrives first, this spring, at $57,990 (around £46,000) including the Launch Package. It runs dual-motor all-wheel drive with 656 horsepower, 609 lb-ft (826 Nm) of torque and a 0–60 mph (0–97 km/h) time of 3.6 seconds. Highway overtaking is savage: 50–70 mph (80–113 km/h) in 1.55 seconds. EPA-estimated range sits at up to 330 miles (531 km). The Launch Package bundles lifetime Autonomy+ access, a tow package rated at 4,400 lbs (1,996 kg) and an exclusive Launch Green paint option.
The Premium trim follows in late 2026 at $53,990 (around £43,000). It shares the 330-mile range and dual-motor AWD layout but dials the power back to 450 hp and 537 lb-ft.