Rivian — an American electric vehicle (EV)opens in same window manufacturer and outdoor adventure company — revealed its new R2 model at the Rivian Theater in Laguna Beach, Calif., on March 7, 2024. The upcoming model was presented by CEO RJ Scaringe to a packed live audience. The vehicle created headlines as an all-new midsize EV SUV, with an anticipated range of 300+ miles at a starting price of approximately $45,000.
The R2 model is a promising sign of the growth of EVs. The vehicle is expected to begin delivering in the first half of 2026, and consumers reserved 68,000 R2s within 24 hours after the reveal. Rivian also plans to make R2 available in Europe in 2027.
The R2 was "designed for the adventurous,"1 with off-road capabilities and features that make it easy to go biking, camping or exploring. All seats — including the front — fold down for sleeping and storage. The side windows can pop out for airflow, and the back window rolls down for easy access. Other features include a front trunk, two glove compartments, a flashlight in the driver door, and accessory ports.
In addition to the fast-expanding Rivian Adventure Network of charging sites, the R2 will be compatible with Tesla’s Supercharger network, opening access to 15,000+ Supercharging stations. The price and charging capabilities may appeal to more potential customers: two of the top reasons for not purchasing EVsopens in same window were high costs and lack of nearby charging stationsopens in same window, according to a study by Cox Automotive.2
During the launch event, Scaringe surprised the audience when he revealed two additional models, the R3 and R3X, that will be released after the R2. The models are smaller than the R2, and feature a hatchback. While specific pricing hasn’t been released, Scaringe said the R3 will cost less than the R2.
In Summary
Rivian — an innovative American electric vehicle company — revealed three new EV models at an event in Laguna Beach, Calif., in March 2024. The R2 model is a mid-size SUV with an anticipated 300-mile range and a starting price point of approximately $45,000. In addition to the R2, Rivian also announced two new models, the R3 and R3X, which will become available after the R2. More than 68,000 customers have already reserved the R2 ahead of its release in the first half of 2026 — a promising outlook for the growth of EVs and Rivian’s future success.
Chase provides financing to Rivian customers through Rivian Financial Services*.
To learn more about EVs, visit www.Chase.com/EVopens in same window.
Same page link returns to footnote reference * The tradename Rivian Financial Services and the Rivian logo are owned by Rivian, LLC (Rivian) or its affiliates and are licensed to JPMorgan Chase Bank, N.A. (Chase). Rivian is solely responsible for its products and services and for promotional statements about them, and is not affiliated with Chase or its affiliates. Auto finance accounts are owned by Chase and are subject to credit approval, terms and conditions.
