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Rivian (RIVN) reveals R2 electric SUV launching in 2026 & starting at $45,000 USD

Rivian's upcoming R2 SUV represents a less pricey offering from the company as it attempts to meet customer demand for a more cost-effective EV.

TJ Denzer

March 7, 2024 12:30 PM

Image via Rivian

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EV company Rivian (stock symbol: RIVN) has revealed its next major product: A new electric SUV being called the R2. This vehicle represents Rivian’s move towards a more affordable product in its catalogue to meet customer demands for a lower priced heavy duty EV. The vehicle is set to start at $45,000 USD and will launch sometime in 2026. Reservations for the vehicle are available now.

Rivian revealed the R2 electric SUV during a livestream event this week, but the detail and order pages for the vehicle are live on Rivian’s website now. Today’s announcement of the R2 was also joined by a tease of the R3 and R3X, which will offer further SUV variants, the latter being a “performance variant”. Rivian CEO RJ Scaringe led the company in revealing the products, claiming that the new R2 and R3 vehicles “represent our future.” Rivian has opened reservations for the vehicle and would-be customers can get in on the action for a deposit of $100 USD.

In a conversation with investors, Scaringe went on to claim that the R2 should offer customers a solid and competitively priced model in a landscape where Tesla has one of the few popular heavy-duty EVs on the market with its Cybertruck.

Priced at $45,000, the Rivian R2 undercuts the Cybertruck by over $10,000, especially after Tesla raised the base price of the Cybertruck to $60,990 USD back in November 2023.

If the Rivian R2 launches successfully, it could mark a major splash in the EV market. As one of the few EVs that makes a product even close to on par with what Tesla has been offering for years, it will be interesting to see if Rivian’s bet on more affordable vehicles pays off. With a launch window of 2026 set, stay tuned for more news and details on Rivian’s R2 and other products in the years ahead.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.