GoKawiilFor years, Rivian made one argument: Serious all-electric adventure vehicles had to cost serious money. The R1S, still one of the more capable off-roaders on any surface, starts at $75,900. The Tri Max configuration tips well past $105,000. A great SUV. Not a mass-market product. The R2 is Rivian's answer to its own problem.
This midsize, five-seat electric SUV, built on an entirely new platform, is not merely a stripped-down R1S. No, the R2 is a ground-up rethink of what a Rivian can be with one crucial target in mind: volume sales. Starting at a competitive $45,000, this is the make-or-break budget EV for the car company that initially began life as Mainstream Motors in 2009.
In the past eight years, Rivian has burned through nearly $25 billion in cash. Its historic free cash flow compared to other automakers is “bracing,” shall we say, as it has essentially spent more money over the same amount of time versus almost every pure EV maker. The company's stock price has dropped from $130 to around $16. The R1 went on sale in 2021; since then, Rivian has sold 175,000 cars. In the same period, Tesla sold 8 million.
Yes, that's an unfair comparison, but it gives some impression of the mountain Rivian's new off-roading SUV has to climb. Despite billion-dollar deals with VW Group and Uber, to survive in its current form, Rivian has to start selling cars in larger numbers. Just in the nick of time, it seems, this is precisely what the R2 has been built to do.
Does This R2 Unit Have a Bad Motivator?
No doubt burned by the serious headaches induced by launching three products at once last time, Rivian is cautiously rolling out the new R2 in four trims from now through late 2027.
The only R2 available at launch is the Performance model at $57,990, or in reality $59,485 with the mandatory $1,495 destination charge. However, it makes 656 horsepower and 609 pound-foot of torque from a dual-motor all-wheel drive setup. Zero to 60 mph is a rapid 3.6 seconds, and the EPA-estimated range is 330 miles.
The launch edition adds lifetime Autonomy+ (Rivian's L2+ hands-free, eyes-on driving system), which usually sets you back a hefty $50 per month, or a one-off outlay of $2,500, and a tow package rated at 4,400 pounds. Yes, it's not what many would describe as cheap, but the entry R1S costs $18,000 more and makes 123 fewer horsepower in base form.