Rivian launches R2 production and previews midsize R3 crossover

Rivian began delivering its new R2 Performance Launch Edition, priced at $57,990, to customers after the Illinois plant rolled out 12,613 vehicles in Q2 2026 and delivered 12,194 units, surpassing its internal guidance of 9,000‑11,000. The strong quarter prompted the company to raise its full‑year 2026 delivery outlook to 65,000‑70,000 vehicles. The R2 targets the Tesla Model Y with comparable pricing and performance, offering up to 656 hp, 609 lb‑ft of torque, a 0‑60 mph time of about 3.6 seconds and an EPA‑rated range of up to 330 miles.

Separately, Rivian announced its upcoming R3 midsize crossover, slated for a 2027 launch. The R3 will be offered with single‑motor, dual‑motor and tri‑motor configurations and two battery sizes, the larger promising roughly 300 miles of range. Rivian claims the R3 can accelerate from 0‑60 mph in under 3 seconds, positioning it as a high‑performance family EV. The company continues to invest heavily in its vertically integrated platform, including a joint venture with Volkswagen that will bring $5.8 billion of German investment into Rivian’s software and architecture development while it expands manufacturing capacity for future models.