April 15, 2024


Rivian’s R2 model will include fast charging and self-driving capabilities.

Rivian’s R2 model will include fast charging and self-driving capabilities.
Screenshot: Rivian

Electric vehicles are still capturing the hearts, minds and wallets of at least some consumers. In less than 24 hours, Rivian’s new R2 model got more than 68,000 reservations, the company’s chief executive said.

“We are thrilled to see this vehicle resonate so strongly with our community!” Rivian CEO RJ Scaringe said Friday on X.

U.S. customers paid a $100 deposit fee, while Canadian residents paid $150 to reserve their car, according to the company’s website. Rivian promises a full refund for customers who change their mind.

During an event Thursday in California, the EV maker revealed the R2 model, a midsized electric SUV that seats five. The Rivian R2 is expected to start at about $45,000, the company said, with deliveries to begin in the first half of 2026.

Read more: EV startup Rivian is betting on a cheap(er) new electric SUV to save its business

Details of how many reservations Rivian’s R3 and R3X models have attracted haven’t been revealed. But according to the company, the cars will have “tighter dimensions” and will be priced lower than the R2.

Rivian plans to make the R2 model at its Illinois factory rather than the Georgia plant where it had planned to invest $5 billion.

Rivian stock, which rose Thursday following the release of the R2, was trading up about 2.5% Friday afternoon.





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