Rivian (RIVN) Stock: What to Know About New R2 EV Models Coming Soon

TLDR

• Rivian CEO RJ Scaringe confirmed the company is developing undisclosed variants of its R2 EV platform, including a possible R2X performance version.
• Volume R2 production has begun in Normal, Illinois, with first deliveries expected around June 2026.
• The R2 lineup starts at $58,000, with a more affordable $45,000 trim with 275+ miles of range coming by late 2027.
• Rivian’s new Georgia plant is being built to support multiple R2 configurations.
• Analysts hold a Moderate Buy on RIVN with an average price target of $18.09, implying 24% upside.

Rivian (RIVN) stock edged up 0.62% on Tuesday and was trading up another 0.34% in pre-market Wednesday as the company confirmed it is quietly developing new undisclosed variants of its R2 electric vehicle platform.

Rivian Automotive, Inc., RIVN

The R2 is central to Rivian’s near-term growth story. Volume production kicked off in Normal, Illinois, with employee deliveries already underway. Public deliveries are expected to start around June.

The lineup begins at $58,000. Cheaper versions follow later in 2026 and into 2027. The most anticipated trim — a $45,000 version with over 275 miles of range — is expected by late 2027 and is seen as the model that could pull in a much wider buyer base.

Georgia Plant Built for Flexibility

Rivian has already laid out the broader mid-size platform: the R2 SUV, the smaller R3 crossover, and the R3X performance version. The R2 variants Scaringe referenced sit alongside these but haven’t been formally announced.

R2 Is Critical to Rivian’s 2026 Targets

Rivian is forecasting a 53% jump in deliveries this year. Analysts estimate that implies roughly 22,000 to 23,000 R2 units, assuming production scales smoothly and demand holds.

The R2 is also the vehicle at the center of Rivian’s $1.25 billion robotaxi deal with Uber (UBER). Under that agreement, Uber plans to deploy 10,000 fully autonomous R2 vehicles starting in 2028.

Rivian posted a Q1 adjusted operating loss of $621 million on revenue of around $1.4 billion. But gross profit came in at $119 million — well above expectations — pointing to better cost control. Deliveries hit 10,365 vehicles, up from 8,640 a year ago.

Analysts currently hold a Moderate Buy consensus on RIVN, based on 10 Buys, 8 Holds, and 4 Sells over the past three months. The average price target sits at $18.09, representing roughly 24% upside from current levels.

The post Rivian (RIVN) Stock: What to Know About New R2 EV Models Coming Soon appeared first on CoinCentral.