Rivian Pushes Back its "Tesla Killer" SUV

EV startup Rivian is pushing back its much-hyped $45K electric R2 SUV until late 2027, choosing to launch a pricier performance trim first.

The base R2 Standard, with rear-wheel drive, projected 275-mile range and starting at $46,495 has been projected to late 2027 while the R2 Performance, starting at $57,990, nearly $12K more than the R2 Standard, will launch this year.

To cut costs, Rivian is redesigning its stack, bringing more hardware in-house, and absorbing the blow from lost EV tax credits and new import tariffs.

Rivian is targeting up to 25K R2s on the road by the end of 2026, betting that early adopters will tolerate higher prices to keep the fledgling automaker afloat.