Rivian’s debut of its long-awaited R2 electric SUV at South by Southwest in Austin, Texas, on Thursday was upstaged before it even began, after key specs and pricing details leaked online a day early, giving EV watchers a detailed preview of what Rivian hopes will be its most consequential vehicle yet.
Tech site Ars Technica accidentally published the details ahead of Thursday’s official reveal, then quickly pulled the article, but not before the information spread widely across automotive forums and social media. Rivian Forums users pieced together the full spec sheet from what was briefly online.
A more accessible Rivian
The R2 is designed to bring Rivian’s adventure-oriented brand identity to a broader audience. The company’s existing R1T pickup and R1S SUV, built on the R1 platform, start north of $70,000, putting them out of reach for many buyers. The R2 is aimed squarely at the mid-size SUV market, competing directly with vehicles like the Tesla Model Y.
According to the leaked specifications, the R2 lineup spans four trims across a wide price range. Leading the lineup is the R2 Performance, or Launch Edition, priced at $57,990 before delivery. It features an 87.9-kWh battery pack with an estimated 330 miles of range, the ability to charge from 10 to 80 percent in approximately 29 minutes, and output of 656 horsepower and 609 lb-ft of torque. The top trim also includes 21-inch wheels, matrix LED headlights, and heated and ventilated front seats with heated rear seats.
Size-wise, the R2 is a true midsize SUV — 185.9 inches long, 78.1 inches wide and 66.9 inches tall, riding on a 115.6-inch wheelbase. Ground clearance comes in at 9.6 inches, and the vehicle is rated to tow up to 4,400 pounds.
The R2 Premium, due later in 2026 at $53,990, steps down to 450 hp and 537 lb-ft of torque and forgoes some features found on the top trim, including semi-active suspension and drive modes such as Rally, Soft Sand, and Launch Mode.
A Single Motor RWD version, expected to arrive in 2027 at $48,490, makes 350 hp and 355 lb-ft, still uses the 87.9-kWh battery, and is rated for an estimated 345 miles of range. That trim is more modestly equipped, with 19-inch wheels, a black interior, heated front seats only, and a five-speaker audio system. It also lacks the all-terrain drive mode and the R2’s signature drop-down rear glass window.
The most affordable variant, the R2 Standard, is projected to arrive in late 2027 at around $45,000 with a smaller battery and approximately 265 miles of range.
A separate leak also revealed the R2’s available paint colors: Half Moon Grey, Glacier White, Borealis, Launch Green, Midnight, Forest Green, Esker Silver and Catalina Cove.
A challenging market
The R2 launch comes as Rivian and the broader EV industry face significant headwinds. The Trump administration’s elimination of the $7,500 federal EV purchase tax credit last September has weighed heavily on demand, helping push U.S. EV sales down 36% year over year in the fourth quarter, according to Barron’s.
Barclays analyst Dan Levy noted that while Rivian had originally unveiled the R2 concept in March 2024 with a roughly $45,000 starting price target, “a number of factors have moved against Rivian from the initial unveil, with higher tariff costs and the elimination of regulatory credits further pressuring [the company’s] profitability,” according to Barron’s.
Wall Street is projecting Rivian’s 2026 sales volume at approximately 65,000 vehicles, up from around 42,000 in 2025. Deliveries of the R2 are expected to begin in the first half of 2026. TD Cowen analyst Itay Michaeli is more bullish on the model’s potential, forecasting annual R2 demand could eventually top 200,000 units, and possibly exceed 330,000, suggesting significant upside to 2027 delivery estimates, Barron’s reported. By comparison, the Tesla Model Y sold 357,528 units in the U.S. in 2025, making it the country’s top-selling EV.
Despite the enthusiasm surrounding the launch, Rivian stock fell 2.6% in early trading Thursday to $16.22, with the company’s shares down roughly 16% on the year heading into the event. Nearly 40% of analysts covering the stock hold a Buy rating, per FactSet, below the S&P 500 average of about 59%, though Rivian has picked up three additional Buy ratings over the past three months. The average analyst price target stands at approximately $18 per share.
Rivian planned to follow Thursday’s official unveil with hands-on consumer rides at its Electric Joyride event at the 800 Block of Congress in Austin from Friday through Wednesday, where drivers will take passengers through a custom off-road course.
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