Drops as R2 Launch Expands EV SUV Lineup

TLDR

• Rivian R2 deliveries begin as RIVN falls 4.24% to $16.13.
• RIVN stock drops despite Rivian’s first public R2 SUV deliveries.
• Rivian starts R2 deliveries with Performance Launch Package first.
• R2 expands Rivian’s EV SUV lineup with cheaper trims ahead.
• Rivian shares slip as R2 launch broadens its mid-size EV push.

Rivian (RIVN) shares fell Tuesday as the company began public deliveries of its all-new R2 mid-size electric SUV. RIVN dropped to $16.13, down 4.24%, after a steep morning selloff from around $17.00. The decline came despite a major product milestone that expands Rivian’s reach beyond its higher-priced R1 lineup.

Rivian Automotive, Inc., RIVN

Rivian Begins Public R2 Deliveries

Rivian started the first public customer deliveries of the R2 from its Normal, Illinois manufacturing plant. The company had already delivered early units to employees in April. Moreover, it began sending order invitations to existing reservation holders in rolling batches.

The R2 first debuted on March 7, 2024, in Laguna Beach, California. Since then, Rivian tested the SUV across North America in extreme heat, cold, and rough terrain. The company said its development fleet covered heavy mileage before public deliveries began.

The first available version is the R2 Performance with Launch Package, starting at $57,990. Premium configurations will follow in late 2026, while Standard versions will arrive through 2027. Rivian expects confirmed customers to receive vehicles within two to six weeks after ordering.

R2 Expands Rivian’s Mid-Size EV Strategy

Rivian built the R2 on a new mid-size platform aimed at a broader market. The SUV weighs nearly 2,000 pounds less than the R1 and uses a shorter 115.6-inch wheelbase. However, it keeps Rivian’s off-road focus with 9.6 inches of ground clearance.

The Performance with Launch Package offers dual-motor all-wheel drive, 656 horsepower, and 609 lb-ft of torque. It can accelerate from 0 to 60 mph in 3.6 seconds. In addition, Rivian estimates up to 330 miles of EPA range for the model.

The R2 also includes advanced software and driver assistance features. Its Autonomy+ package supports hands-free assisted driving across 3.5 million miles of roads in the U.S. and Canada. Besides, Rivian plans a limited Point-to-Point driving rollout later this year.

Stock Weakens Despite Production Milestone

RIVN’s stock move showed pressure remained on the shares despite the R2 launch update. The stock slipped sharply in morning trading before a small rebound near 11:00 AM. Still, the session kept Rivian under pressure as traders reacted to the broader setup.

The R2 launch adds a lower-priced model to Rivian’s product range. The Premium trim starts at $53,990, while the first Standard version starts at $48,490. Another Standard version will arrive in summer 2027 with a starting price of $44,990.

Rivian currently builds the R2 in Illinois alongside the R1S and R1T. The company also plans to assemble vehicles at its Georgia facility from late 2028. That site could add up to 300,000 units of annual capacity during its first phase.