Overview
- Rivian confirmed the R2 Performance Launch Package at $57,990, a $53,990 Premium trim due late 2026, and an entry Standard model around $45,000 pushed to late 2027.
- The company says first R2 customer deliveries are slated for Q2 2026, with production beginning at its Normal, Illinois plant on a single shift and 2026 deliveries guided to 62,000–67,000, including 20,000–25,000 R2s.
- Rivian shares fell roughly 2.9% to $14.86 after the pricing reveal, then gained about 3% Monday after TD Cowen upgraded the stock to Buy with a $20 target.
- Early R2s ship with Gen 2 driver-assist hardware without LiDAR, while a LiDAR-equipped Gen 3 stack arrives late 2026 with no retrofits planned, a staggered rollout analysts warn could defer some purchases.
- Sales chief Gary Gaines said the R2’s SXSW reception exceeded management expectations, yet reservations topping 100,000 face conversion tests as rivals undercut on price and many sign-ups predated loss of the federal tax credit.