Rivian R2 prices revealed: you’re going to have to wait longer for that $45,000 version

When Rivian first revealed the R2 in 2024, a lot of the excitement was centered on the starting price of $45,000 — placing it slightly below the current average selling price for a new internal combustion vehicle.

Finally, here was a decently sized electric SUV with great design and impressive software that wouldn’t require taking out a 7-8 year auto loan. Of course, we all knew that a $45,000 starting price for the base model was aspirational and would take a while to get here — like other automakers, Rivian is prioritizing its pricier trims — and now we have more details about how long it will actually take.

Today at SXSW, Rivian revealed final pricing and specifications for the R2, a midsize electric SUV that according to CEO RJ Scaringe is “maybe the most important thing we’ve launched to date.” And while Rivian is sticking to its guns on the $45,000 starting price for the base model, its extremely likely, when all is said and done, that the vast majority of R2 customers will end up paying a lot more than that.

(The prices leaked ahead of the announcement, and the reactions on Reddit were decidedly mixed.)

I’m not saying this is another case of the $35,000 Tesla Model 3, an ephemeral version of Tesla’s bestselling EV that never really quite materialized — but I’m also not not saying that. Rivian has an uphill battle to fight if it wants the R2 to be as affordable as promised. We’ll see what happens next year, when the $45,000 base model is scheduled to launch.

But let’s dial it back. The first version of the R2 will be the dual-motor Performance trim, starting at $59,485 (including a $1,495 destination charge). Rivian expects the first Performance R2s to reach customers starting in spring 2026 — so, any day now. This version certainly lives up to its badging, with 656 horsepower, 609 lb-ft of torque, a 0-60mph time of 3.6 seconds, semi-active suspension, and an EPA-estimated range of 330 miles.

There’s a whole host of standard features with the Performance trim, including Compass Yellow brake calipers, Esker Silver exterior paint, premium interior with Birch wood accents, and heated/ventilated/massaging seats. It’ll also come with Rivian’s 975-Watt Premium Audio system that features nine speakers, two mid-woofers, and two subwoofers that are positioned to cancel out internal cabinet vibrations. You’ll also get the R2’s most talked about feature: the rear-drop glass, which enables the back window to retract fully into the tailgate.

Customers who buy the R2 Performance will get a robust list of drive modes, including All-Purpose, Conserve, Snow, and All-Terrain. Additional modes that are exclusive to this version include Rally, Soft Sand, Sport, and Launch Mode.

The R2 Performance also includes 21-inch Liquid Tungsten all-season wheels and Dynamic Adventure Lighting, featuring Matrix LED headlights with Adaptive High Beams that can “shape” light around oncoming traffic. And fans of Rivian’s Easter Eggs will delight in the rechargeable Torch flashlight that can be found embedded in the door frame.

Rivian is also sweetening the deal for those who opt for the Launch Package by throwing in a lifetime subscription to the Autonomy Plus package, which includes hands-free driving. The Launch edition also comes with a tow package that unlocks 4,400-lbs of towing capacity, an exclusive Launch Green exterior option, and a special Rivian Green anodized key fob — but only for a limited time.

The 87.9 kW battery can be charged through a native NACS charging port that provides access to Tesla’s Supercharger stations. Both subsequent trims feature the same battery, which Rivian is producing in the US in partnership with LG Energy. Rivian says you’ll be able to charge from 10-80 percent in 29 minutes when hooked up to a DC fast charger.

Up next will be the Premium trim, starting at $55,485 and arriving late 2026. This dual-motor AWD EV will put out 450 hp and 537 lb-ft of torque, with a 0-60mph time of 4.6 seconds. It’ll also get up to 330 miles of EPA-estimated range.

The Premium trim comes standard with a lot of the same stuff as the R2 Performance, but with less power and fewer off-road features. Owners can still option up if they want the Autonomy Plus package, either as a one-time upgrade of $2,500 or a monthly subscription of $49.99.

Here’s the trim for the budget-conscious buyer who still doesn’t want to wait all the way until the end of 2027 (or longer) for the base model R2. The R2 Standard (Long Range) will be available early 2027 at the starting price of $49,985 (including destination fee), with 345 miles of EPA-estimated range, 350 hp, 355 lb-ft of torque, and a 0-60mph acceleration of 5.9 seconds.

The Standard boasts more range than its predecessors because it’s missing one of the motors, with only a single motor situated in the rear axle. But you still get a lot of the bells and whistles of the higher trim levels, including heated seats, heated steering wheel, 12-way power driver seat with lumbar adjustment, and at least four of the drive modes (All-purpose, Conserve, Sport, and Snow). The R2 Standard will roll on 19-inch Machined Graphite all-season wheels and sports a less fancy 525W audio experience of 5 speakers and 2 mid-woofers.

And then there’s the $45,000 Standard version, which is expected to come out in late 2027. This version will get 275 miles of EPA-estimated range, but Rivian is holding off on revealing any more details until closer to launch. Expect an even less well-appointed interior, fewer features, and more basic technology. Oh, and that starting price won’t even be $45,000 because it doesn’t include the $1,495 destination charge. The true price will be $46,495.

The R2 is a Rivian, so of course it’s brimming with technology, including 5G-connectivity with a 65MP camera and radar system. Its Autonomy Plus package enables Level 2 Plus hands-free driving on 3.5 million miles of road. Under the hood, a 200 TOPS edge AI compute powers an offline-capable voice assistant, with new haptic “halo” steering wheel dials — which can be scrolled, clicked, pushed, and tilted — and dual displays behind the steering wheel and in the center dash.

Rivian also released detailed measurements of the R2, so we can get a better sense of how it stacks up to the competition. The company is aiming for that sweet spot in the market, which also happens to be its most popular segment: the midsize SUV. Comparing it the larger Rivian R1S, the R2 is about 15 inches shorter, possibly making it a better sell for customers concerned about tight city streets and normal-sized garages. It’s also nearly 2,000 lbs lighter than the R1S and sits on a shorter wheelbase (115.6 in).

There’s also the other most-talked about feature, which is the fold-flat seating system that turns the entire cabin into a level loading surface or perhaps a sleeping arrangement.

But how does it stack up to the Tesla Model Y, which is the top selling EV in the US? The R2 is nearly 3 inches shorter than the Model Y but features a longer wheelbase (115.6 in vs. 113.8 in). It also has over 50 percent more ground clearance than the Model Y (9.6 in vs. 6.4 in).

Look, I have no doubt the R2 will be a hit. People are clamoring for more affordable models, and Rivian has already proved that its design approach can successfully win over customers. The company has a built in fan base; the real challenge is reaching the uninitiated.

Scaringe said the R2 will be Rivian’s most important launch yet, and it’s hard to argue. The company is also betting it will be one of the most popular EVs ever to come out, predicting 20,000-25,000 delivered before the end of 2026. That means the company expects to sell at least 20,000 Performance and Premium trims by the end of this year. That could be tough with the most affordable version still over a year away, but Rivian is confident it can defy the odds.