Core News Facts
Rivian Automotive (NASDAQ: RIVN) has begun deliveries of its new R2 electric SUV, priced from $57,990 for the Performance with Launch Package. Subsequent trims, R2 Premium and R2 Standard Long Range, will follow later this year at $53,900 and $48,490, respectively, with a base version expected in summer 2027 at $44,990.
The R2 aims to enter the broader mid-luxury market, providing a larger revenue opportunity for the company. Rivian has made strides in reducing production costs through improved sourcing and manufacturing efficiencies. Additionally, the company is collaborating with Volkswagen to develop autonomous driving software, targeting point-to-point capabilities by late 2026.
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