Rivian R2 Vehicles Are Coming In 2026, Will Cost $40K-$60K

• Rivian will show the more affordable R2 line in 2024.
• The first production models are expected to launch in 2026.
• Rivian plans to work with suppliers to keep the price tag in the $40K-$60K range.

Rivian, now somewhat safely free of the perils it faced over the last few years — the least of which included lawsuits, poor delivery numbers and supply chain issues — is ready to take its next steps. The company’s CFO, Claire McDonough, recently spoke at the Deutsche Bank Global Auto Industry Conference. There, she revealed some details about the newest vehicles in the automaker's pipeline, dubbed the R2 series.

This isn’t a singular model but a common platform that will support several body styles. It works like this: Rivian’s current truck and SUV, the R1T and R1S, respectively, share a common platform, battery pack and powertrain. The most significant difference is that the R1S swaps the R1T's pickup bed for a third row of seats and an enclosed cargo area.

The R2 line will work in a similar manner. Hypothetically, a small truck would be called the R2T and an SUV would bear the R2S moniker. McDonough had this to say at the conference: “One of the keys is, as we’ve been in a position over the course of 2022 to ramp and demonstrate Rivian’s ability to ramp, we’ve now turned the corner in our ability to showcase the technology road map of what’s coming [...] the R2 program that will be launched in 2026.”

Work is already underway. When asked point blank when Rivian would unveil the R2, McDonough said that the R2 will be shown “to the world [in] early 2024.” Right now, the vehicle is very much under development, and design teams are still working with clay models.

Deutsche Bank also asked the Rivian CFO what the plan is for the R2’s pricing and market positioning. McDonough: “From an overall price vantage point, we see this really targeting the meat of the broader midsized SUV crossover market. So straddling the broader ranges of $40,000 to $60,000 area in aggregate.”

The R2 will be positioned as a more affordable line compared to the R1 products. On its face, this looks like a recipe for success — Rivian has spent years building itself up as a premium, outdoor-focused, environmentally responsible automaker for the young, hip, wealthy market. Now it's time to expand that idea to buyers who are also more price-conscious.

The R2 will maintain “some of that adventure aesthetic” with “capabilities that allow [Rivian] to maintain that more affordable price point[s].” Rivian has also learned from the R1’s production processes. During the interview, McDonough strongly emphasized getting the cost of materials down. On top of that, the automaker seeks to leverage new tech, like its Enduro electric motors currently used in the R1T and R1S dual-motor variants. In those applications, power figures are north of 600 hp, though we think it’s unlikely the R2 will feature such stratospheric power figures.

Aesthetically, Rivian’s signature look will likely carry on in the R2. McDonough elaborates: “They are very noticeable when you’re driving down the road. And I think the opportunities that we have as well is to continue to allow R2 to stand out and really sort of lean on some of that success that we’ve brought to market with R1.”

The R2 will be shown next year and should be hitting the trails sometime in 2026. We expect it will be just as compelling and competent as the R1T and R1S.

Edmunds says

While specifics are light for now, we’re very excited about a more affordable Rivian. How it stands up in a hypercompetitive segment will have to wait. One thing is for sure — Rivian’s mix of minimal-luxury branding, socially conscious marketing and production techniques, and brand identity means whatever rides on the R2 platform will be in high demand.