TLDR
- RIVN drops 5.64% as Rivian starts public R2 SUV deliveries
- Rivian opens R2 orders while shares slide after morning selloff
- R2 deliveries begin as Rivian targets broader electric SUV buyers
- Rivian launches R2 rollout with pricing from $57,990 initial trim
- RIVN weakens despite R2 milestone and expanded production plans
Rivian (RIVN) shares began public deliveries of its R2 mid-size SUV while RIVN shares fell 5.64% to $15.89. The stock dropped after a sharp mid-morning selloff, although it recovered part of the decline by 2:32 PM EDT. The launch gives Rivian a broader-market vehicle as competition intensifies across the electric SUV segment.
Rivian Starts R2 Deliveries From Illinois Plant
Rivian said the first public R2 customer deliveries have started after months of employee deliveries. The company began employee handovers in April at its Normal, Illinois manufacturing facility. Also, Rivian has started sending order invitations to existing reservation holders in rolling batches.
The R2 entered development after its March 2024 unveiling in Laguna Beach, California. Since then, Rivian tested the SUV across deserts, frozen regions, and difficult terrain. The company said its validation work covered temperatures from minus 45 degrees Fahrenheit to 122 degrees Fahrenheit.
Rivian designed the R2 on a new mid-size platform for a lower price point. The vehicle weighs nearly 2,000 pounds less than the R1 and uses a 115.6-inch wheelbase. However, it still keeps 9.6 inches of ground clearance and Rivian’s off-road design focus.
R2 Pricing, Range and Order Rollout
Rivian will begin with the R2 Performance with Launch Package, starting at $57,990 before taxes and fees. The model includes dual-motor all-wheel drive, 656 horsepower, and 609 pound-feet of torque. It also offers up to 330 miles of EPA-estimated range, depending on selected options.
The Performance version can reach 60 mph in as quick as 3.6 seconds. Besides, it includes Autonomy+ and supports hands-free assisted driving on selected roads. The package also includes a tow setup with a 2-inch hitch and 4,400 pounds of towing capacity.
Rivian plans to launch the R2 Premium trim in late 2026 at $53,990. The R2 Standard range will follow in 2027, with prices starting at $48,490 and later $44,990. Once customers confirm an order, Rivian expects delivery within two to six weeks.
RIVN Stock Falls Despite Major Product Milestone
The R2 plays a key role in Rivian’s plan to reach more buyers beyond its R1 lineup. Its smaller size, lower starting price, and broader configurations support that goal. Moreover, the SUV gives Rivian a product aimed at a deeper electric vehicle market.
Rivian also tied the R2 program to its wider U.S. manufacturing strategy. The Normal plant builds the R2, while the company plans a second facility in Georgia. That site should begin production in late 2028 and add up to 300,000 units of annual capacity.
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