For years, Rivian has been promising to make a smaller, more affordable electric SUV that will sit alongside its pricier R1T and R1S vehicles, and that day is finally here. The company revealed the R2 in a livestreamed event from Laguna Beach, California, at 10AM PT on March 7th, 2024. The more affordable SUV is targeting a launch in the first half of 2026. It will have a starting price of $45,000, an estimated range of 330 miles on a charge, and a 0–60mph time under three seconds.
Rivian also showed off another smaller vehicle, the R3 crossover, and a sport-trimmed R3X variant. It’s a crucial vehicle for Rivian, which has been struggling to reach profitability amid a broader slowdown in EV sales growth. Rivian is what’s known as a “pure EV play,” meaning it only makes EVs and doesn’t have any internal combustion engines, or even hybrids, to fall back on when sales start to dip.