Rivian launched the highly anticipated R2 on June 9 and it appears the excitement was short-lived. One of the first models recently sold at auction and it only garnered four bids.

The electric crossover ended up selling for $63,500, which was only $2,015 above its sticker price of $61,485. This means the seller likely ended up losing money on the vehicle after factoring in taxes and expenses.

More: Rivian’s Most Affordable Model Arrives First In Its Most Expensive Form

The R2 Performance Launch Edition was listed on Cars&Bids and the auction wrapped up yesterday. The Catalina Cove crossover only had 71 miles (114 km) on the odometer and it was purchased last month.

Cars&Bids

The seller said they were a “day 1 deposit holder,” which suggests they reserved the R2 back in March of 2024. The seller added they’ve owned several Rivians over the years, but ended up buying a Kia EV9 for his wife.

Despite this, they decided to take the first Catalina Cove R2 that arrived at their local center with the expectation of keeping it and selling the EV9. She apparently liked the three-row EV better, so they decided to flip the Rivian.

While that could just be a story, it seems plausible enough as it’s hard to plan out your vehicle needs and timing nearly two and a half years in advance.

Regardless, it’s interesting that the R2 didn’t sell for more money. The model is still in short supply and the company is “inviting reservation holders to order in rolling batches.” If you reserve today, it’ll take roughly a week to get estimated timing for your order invitation.

As a refresher, the R2 Performance starts at $57,990 and features a dual-motor all-wheel drive system developing 656 hp (489 kW / 665 PS) and 609 lb-ft (825 Nm) of torque. It enables the crossover to accelerate from 0–60 mph (0-96 km/h) in 3.6 seconds and travel up to 330 miles (531 km) on a single charge.

It comes nicely equipped with Matrix LED headlights, Compass Yellow accents, and 21-inch wheels. Buyers will also find 12-way power front seats with heating and ventilation as well as heated rear seats and a heated steering wheel. They’re accompanied by birch wood trim, a nine-speaker premium audio system, and a flashlight integrated into the driver’s door.

The Launch Edition adds a handful of notable extras including a special key fob and a lifetime subscription to Autonomy+, which provides Universal Hands-Free driving on over 3.5 million miles (5.6 million km) of roads in the United States and Canada. The special edition also comes with a tow package that enables the model to haul up to 4,400 lbs (1,996 kg).

Cars&Bids

Rivian has spent years honing production, development, and its customer-facing business. Now, just days after the launch of its most important product yet, the R2, it’s cutting hundreds of jobs. All of these moves come with a single goal in mind: profitability.

According to a report from The Wall Street Journal, Rivian laid off hundreds of workers on Tuesday. A company spokesperson said the reductions represent less than 2 percent of the automaker’s workforce, which stood at roughly 15,200 employees at the end of 2025. The cuts reportedly focused on Rivian’s service and customer organization, including sales and marketing functions.

Read: Rivian’s R2 Configurator Is Live, And A Spare Tire Costs $755

That seems like an odd move, perhaps, given the brand’s efforts to expand its service network, but the timing and positions affected are key here. The hype around the launch of the R2 is real, despite pricey lease offerings. According to CBT News, around half of buyers are opting to lease the R2 rather than to buy it.

Expensive or not, buyers eager to be near the front of the line will show up regardless of how many folks in sales and marketing still have their jobs. Those affected by the layoffs are encouraged to apply for other open positions in the company. In the meantime, the move allows Rivian to save some cash and edge closer and closer to long-term profitability.

That’s important because Rivian’s premium-first strategy has struggled to generate the volume needed to cover its costs. The company brought in roughly $5.4 billion in revenue last year while selling about 42,000 vehicles, but it has yet to post an annual profit since its founding in 2009. The R2 is the brand’s best chance to change that.

For now, Rivian appears to be making a familiar Silicon Valley calculation. It’s cutting costs today to preserve the cash needed for tomorrow. Whether the R2 becomes the breakthrough product that finally validates that strategy remains the question hanging over the entire company.

Rivian has spent years honing production, development, and its customer-facing business. Now, just days after the launch of its most important product yet, the R2, it’s cutting hundreds of jobs. All of these moves come with a single goal in mind: profitability.

According to a report from The Wall Street Journal, Rivian laid off hundreds of workers on Tuesday. A company spokesperson said the reductions represent less than 2 percent of the automaker’s workforce, which stood at roughly 15,200 employees at the end of 2025. The cuts reportedly focused on Rivian’s service and customer organization, including sales and marketing functions.

Read: Rivian’s R2 Configurator Is Live, And A Spare Tire Costs $755

That seems like an odd move, perhaps, given the brand’s efforts to expand its service network, but the timing and positions affected are key here. The hype around the launch of the R2 is real, despite pricey lease offerings. According to CBT News, around half of buyers are opting to lease the R2 rather than to buy it.

Expensive or not, buyers eager to be near the front of the line will show up regardless of how many folks in sales and marketing still have their jobs. Those affected by the layoffs are encouraged to apply for other open positions in the company. In the meantime, the move allows Rivian to save some cash and edge closer and closer to long-term profitability.

That’s important because Rivian’s premium-first strategy has struggled to generate the volume needed to cover its costs. The company brought in roughly $5.4 billion in revenue last year while selling about 42,000 vehicles, but it has yet to post an annual profit since its founding in 2009. The R2 is the brand’s best chance to change that.

For now, Rivian appears to be making a familiar Silicon Valley calculation. It’s cutting costs today to preserve the cash needed for tomorrow. Whether the R2 becomes the breakthrough product that finally validates that strategy remains the question hanging over the entire company.

The Rivian R2 is finally available to lease, but shoppers expecting a budget-friendly path into the brand may be in for a surprise. While the automaker’s newest electric crossover starts well below the larger R1S on paper, the real-world lease numbers tell a different story. In fact, whether you put thousands down or nothing at all, the R2 still ends up costing about $1,000 a month to drive.

The 2026 R2 Performance is currently advertised at $829 per month for 36 months with $5,724 due at signing, which includes fees and the first month’s payment. Against its $57,990 MSRP and a 10,000-mile annual allowance, and stripping that first payment out of the upfront total, the effective monthly cost works out to roughly $965.

Read: Rivian’s R2 Configurator Is Live, And A Spare Tire Costs $755

Understandably, many shoppers prefer to evaluate leases with little or no money down. Rivian’s payment estimator shows that removing the down payment increases the monthly payment to $939 for the same 10k miles and 36 months. The amount due at signing falls to roughly $2,334 including the first month, but the effective monthly cost still lands at approximately $978. In other words, the difference between putting money down and keeping that cash in your bank account is only about $13 per month over the life of the lease.

That figure becomes even more interesting when compared to Rivian’s own lineup. CarsDirect points out that less than a month ago, the R1S Dual Standard was available for $799 per month with $5,694 due at signing. That translated to an effective monthly cost of around $935 despite the SUV carrying roughly $19,000 more MSRP than the R2.

Today, that comparison is harder to spot because Rivian quietly increased R1S lease pricing. The same R1S now lists at $899 per month with $8,794 due at signing, resulting in an effective cost of roughly $1,118 monthly. The MSRP remains unchanged, but the lease economics have shifted dramatically.

That points to why some customers say they’re going to wait. Lease programs can change quickly, and lower-priced R2 trims are still on the way. On Reddit, the theme of comments was clear. “1-1.1k/month with no down including taxes and fees is rough. Probably gotta wait for deals,” said one. “I make a good living, but offering a lease at what is essentially 10% APR ($40k in payments over three years) is ridiculous, and I fear they may have miscalculated,” said another.

That said, the hype around the R2 is big. Rivian will likely have little trouble delivering all the examples they can make this year. Once that demand slows, the deals could roll in quickly.

Photos Rivian

Amazon delivery drivers across the United States have, according to prior reporting and driver accounts, described pressure to meet demanding quotas and the presence of in-van AI cameras that monitor driving, but the challenges don’t stop there. According to a new report, the new electric delivery vans cut the air conditioning when the rear sliding door is left open while drivers step out to deliver a package, potentially posing risks for those working in hot climates.

Several drivers have revealed that the latest Amazon delivery vans, built by Rivian, have been updated to turn off the A/C if the sliding rear door is left open for more than 30 seconds. That’s a nuisance given that workers are always stopping, getting out, and delivering packages, often hundreds of times during a shift, and may open the door repeatedly on a single block.

Read: Rivian Van Owners Are Learning A Small Habit Can Lead To A Big Problem

After finding multiple reports of drivers complaining about the issue, 404Media reached out to Amazon seeking clarification about the recent software update. According to the retail giant, the A/C is only turned off if the sliding rear door is left open for 30 seconds.

Amazon Has Its Say

“Rivian recently released a software update for Electric Delivery Vehicles that actually extends climate control for drivers,” Amazon said. “As a result, the AC now runs for up to 10 minutes after a driver exits the vehicle, ensuring a cool cabin when they return. The timer resets at every stop. The AC only shuts off if the driver’s sliding door is left open for more than 30 seconds — a battery conservation measure.” 

In all likelihood, Amazon doesn’t want drivers wasting power by blasting the A/C while the sliding door is open, letting hot air into the cabin. Nevertheless, it would be frustrating for drivers, particularly if they park in one spot and have to deliver multiple packages to one block at the same time, perhaps forcing them to open and close the sliding door repeatedly, or risk the air conditioning switching off.

Will Amazon do anything to address the complaints? It remains to be seen, although Amazon does note its newer Rivian delivery vans also include ventilated seats to help drivers during the summer.

Update: After publication, Amazon contacted Carscoops to note that its delivery drivers are employed by Delivery Service Partners, which set their own routes, and to clarify that its in-van safety cameras record no audio, are reviewed only by trained personnel after a specific safety event rather than monitored in real time, and can be switched off during breaks.

Just a few short years ago, some car buyers were up in arms that new vehicles from some of the industry’s biggest names no longer shipped with AM radio. As it turns out, it’s not just AM radio that’s at risk of going extinct, as even FM radio is being omitted from some new vehicles.

Among the first new cars not to ship with a basic FM radio are the entry-level versions of the Tesla Model 3 and Model Y, and it appears that the new Rivian R2 also comes without it. An image recently snapped from the R2’s owner’s manual notes that while it offers a slew of different media sources, FM radio is not among them.

Read: Rivian Won’t Add Buttons Back, Says You Should Talk To Your Car Instead

The closest thing offered with the R2 is the ‘Rivian Digital Radio,’ powered by iHeartRadio. The typical service provided by iHeartRadio combines digital radio with the ability to tune in to terrestrial FM and AM, and Rivian’s solution presumably does the same. However, iHeartRadio requires cell coverage, so it will probably be useless for Rivian R2 owners looking to venture into the wilderness where they cannot access the internet.

Cost-Cutting?

R2 Doesn’t have FM/HD Radio
by u/AdamUCF in Rivian

The manual notes that the R2 also supports Apple Music, Audible, Spotify, Tidal, and TuneIn, but all of these require the Connect+ package or a personal Wi-Fi hotspot. TuneIn operates similarly to satellite radio, providing access to live feeds from over 100,000 local radio stations, but, of course, it requires an internet connection.

News of the R2’s lack of FM radio doesn’t appear to have gone over well among owners on Reddit, with several saying the absence of this feature alone is a deal-breaker. We’ve reached out to Rivian seeking additional information about the lack of FM radio and why it hasn’t been included in the R2 and will update this story when we hear back.

Some automakers have caved to buyer demand and started bringing physical buttons back, including VW, Audi, Mercedes-Benz, and Hyundai. Rivian, on the other hand, has no interest in joining them, insisting its advanced AI-driven voice assistant is simply a better way to control a vehicle’s functions.

While recently speaking with Rivian’s chief software officer, and co-CEO of the Rivian and VW joint venture, Wassym Bensaid, The Verge dug into the new Rivian Assistant, which rolled out to existing R1 models in mid-May. It’s built on a shared, multimodal AI foundation and can handle core vehicle functions, HVAC included.

Read: For $50 A Month, Rivian Will Make You A Passenger In Your Own EV

Existing Rivian R1 models, along with the new R2, are largely free of physical buttons, and given the brand’s commitment to its new assistant, that isn’t likely to change anytime soon.

“I deeply believe that voice has the chance to be the primary interface in the car,” Bensaid told The Verge. “I also think that buttons can exist, but they shouldn’t be the primary way with which you interact with the car. I think there’s more that is possible with voice since you can do more than one single function. You don’t have to fiddle with so many functions.”

Are Scroll Wheels The Solution?

“You don’t have to go deep into the touchscreen to look into specific features. A great voice experience can elevate all of that, allow users to talk to the car as a human would, and really take the overall experience to the next level,” he added.

Bensaid went on to note that in the R2, there are no traditional HVAC buttons; instead, the large scroll wheels on the steering wheel can be used to adjust settings like fan speed on the fly. While not quite a button, they do seem like a better solution than tapping on a small icon on the touchscreen to tweak the fan speed.

According to Rivian, “the only reason that drivers and consumers do not interact with the car through voice is that, to put it really bluntly, the technology has been broken,” up until this point. A key difference between Rivian’s Assistant and those of competitors is that it uses its own Android-based infotainment system, which doesn’t offer support for Android Auto or Apple CarPlay, so the AI-assistant works seamlessly regardless of what screen is displayed.

Rivian also points out that the system takes a more conversational approach than traditional voice assistants. Instead of barking “Open the frunk,” for instance, you can simply say “I have a bag in the front of the car,” and the assistant will pop the frunk for you. It all sounds rather slick, though we’d still take a few physical buttons. What about you?

Some car manufacturers have caved to demand from buyers to bring back physical buttons, including VW, Audi, Mercedes-Benz, and Hyundai. Rivian doesn’t seem interested in following suit, declaring that its advanced AI-driven voice assistant system is a better way to control a vehicle’s functions.

While recently speaking with Rivian’s chief software officer, and the co-CEO of the Rivian and VW joint venture, Wassym Bensaid, The Verge dived head-first into the new Rivian Assistant, introduced to existing R1 models in mid-May. It’s built on a shared, multimodal AI foundation and can control core vehicle functions, including HVAC.

Read: For $50 A Month, Rivian Will Make You A Passenger In Your Own EV

Existing Rivian R1 models, as well as the new R2, are largely devoid of physical buttons, and given the brand’s commitment to its new assistant, it doesn’t appear as though this will change.

“I deeply believe that voice has the chance to be the primary interface in the car,” Bensaid told The Verge. “I also think that buttons can exist, but they shouldn’t be the primary way with which you interact with the car. I think there’s more that is possible with voice since you can do more than one single function. You don’t have to fiddle with so many functions.”

Are Scroll Wheels The Solution?

“You don’t have to go deep into the touchscreen to look into specific features. A great voice experience can elevate all of that, allow users to talk to the car as a human would, and really take the overall experience to the next level,” he added.

Bensaid went on to note that in the R2, there are no traditional HVAC buttons; instead, the large scroll wheels on the steering wheel can be used to adjust settings like fan speed on the fly. While not quite a button, they do seem like a better solution than tapping on a small icon on the touchscreen to tweak the fan speed.

According to Rivian, “the only reason that drivers and consumers do not interact with the car through voice is that, to put it really bluntly, the technology has been broken,” up until this point. A key difference between Rivian’s Assistant and those of competitors is that it uses its own Android-based infotainment system, which doesn’t offer support for Android Auto or Apple CarPlay, so the AI-assistant works seamlessly regardless of what screen is displayed.

Rivian also notes that it provides a more conversational approach than traditional voice assistant systems. For example, you don’t have to say “Open the frunk,” and can instead say “I have a bag in the front of the car,” and the system will automatically open the frunk. It all sounds rather nice, but we’d still prefer some physical buttons. What about you?

The Rivian R1S and R1T have always been aimed at a particular type of buyer, one who hikes, camps, and treats the outdoors as a destination rather than a backdrop. Or, more honestly, one who wants to look like they do. Given that, it’s a little surprising Rivian has taken this long to revive one of the better interior options it ever offered, the one that turns the cabin into something resembling a private forest.

The cabin, aptly named Forest Edge, was offered a few years ago before quietly disappearing from the R1 family. It’s now back in both the R1S and R1T, but only for a limited time. Rivian hasn’t said exactly how long the window will stay open, though it should find plenty of takers.

Read: Rivian’s R2 Configurator Is Live, And A Spare Tire Costs $755

A rich shade of green vegan leather covers most of the cabin’s key surfaces, including the seats, door panels, and center console lid. It also climbs up the pillars and across the headliner. To keep the look from tipping into the overbearing, Rivian has paired it with Brown Ash Wood trim on the doors and dashboard, along with plenty of black faux-leather panels and a few subtle yellow accents tying everything together.

What Else Is Included?

Shoppers who want a Forest Edge interior will only be offered the chance to pair it with three exterior paints: Glacier White, Half Moon Grey, or Forest Green. In addition, models with the Forest Green configuration include the Darkout Package with 22-inch Sport Dark wheels as standard, but also available with optional 20-inch All-Terrain Dark wheels. The Sound + Vision package also comes pre-equipped, adding Rivian’s Dynamic Glass Roof and premium audio system.

Perhaps the most notable downside about the Forest Green option is that it’s only available on Dual-Motor with Max Pack configurations, which, as standard, start at $83,990 for the R1S and $79,999 for the R1T. The Forest Edge Package adds $9,000 to the price tags of both, lifting their MSRPs to $92,990 for the R1S and $88,990 for the R1T.

Rivian is gearing up to launch the highly-anticipated R2 on June 9. That means we’re less than two weeks away from order invitations going out and demo drives beginning.

With sales right around the corner, the automaker is informing customers of how things will progress. Order invitations will go out on a “rolling basis,” which will be sent in batches as deliveries ramp up.

More: A Tornado Hit Rivian’s Factory, But It Didn’t Stop The R2 From Going Into Production

Rivian went on to explain that your location and when you made a reservation are the “primary factors that determine when you receive your invite.” The automaker added that customers located near Rivian service and demonstration centers will generally receive invitations sooner as this allows them to deliver vehicles more quickly in the initial ramp up period. R1 owners will also be given priority as well as customers with expiring leases.

As the automaker has previously explained, the first models will be R2 Performance SUVs with the Launch Package. The R2 Premium will arrive late this year, while the R2 Standard will follow in 2027.

If customers prefer to wait for a future version, they’ll be notified once it becomes available to order. Once customers make an order and it’s confirmed, delivery should occur within 2–6 weeks.

While many customers still have a wait ahead of them, they can schedule a test drive in an R2. Priority will be given to reservation holders who have been invited to order their vehicle.

Configurator

Besides telling fans what to expect in the days and weeks ahead, Rivian launched the R2 configurator. It echoes the one for the R1 lineup and allows customers to select between Performance, Premium, and Standard trims.

The R2 Performance is offered with six colors at launch, but only Esker Silver is free. The remaining hues cost between $1,000 and $2,000.

It’s a similar story inside as the model comes standard with a Black Crater Signature interior. It you want the warmer Coastal Cloud Signature cabin, you’ll have to shell out an additional $1,000 and wait until later this year.

While the R2 Performance comes well-equipped, you’ll need to spend $755 to get a spare tire. An 11.5 kW wall charger will set you back $800, while floor mats cost $225.

As a refresher, the R2 Performance starts at $57,990 and has a dual-motor all-wheel drive system developing 656 hp (489 kW / 665 PS) and 609 lb-ft (825 Nm) of torque. It enables the model to accelerate from 0–60 mph (0-96 km/h) in 3.6 seconds and have a range of 330 miles (531 km).

Rivian broke the mold by bringing the R1T, an electric pickup truck, to market before anyone else. Now, it’s trying to gain a far more stable foothold in the industry with its all-new R2. A new report sheds light on how Rivian cut costs but evidently not quality in this new SUV. According to the brand, it costs around half as much to build as the R1S despite keeping the performance and utility that fans love.

At the core of the R2’s cost-cutting approach is ruthless simplification. Rivian says its new zonal electrical architecture slashes wiring complexity, trimming 2.3 miles of harness length and reducing connectors by 60%. High-voltage cabling is down 70% thanks to consolidating multiple power modules into a single unit.

The same philosophy carries over to the powertrain. Rivian’s new “Maximus” drive unit uses 41% fewer parts than the Enduro units found in the R1 lineup. By integrating the inverter directly into the drive unit and even using its housing as a mounting structure, Rivian cuts both material cost and assembly time.

Read: Rivian Lost $416 Million Last Quarter And Just Bet Bigger On Georgia

According to InsideEVs, even the sensors got a rethink. Swapping ultrasonic sensors for corner radars yields a claimed 50% cost reduction, a move that reflects a broader trend toward fewer, more capable components. In theory, that could help Rivian reduce repair costs, a known concern for the brand.

The front suspension ditches the more complex double-wishbone setup used in the R1 for a simpler MacPherson strut design, cutting costs by 70%. Large die-cast sections reduce underbody part count by 90%, while rear doors shed 65% of their complexity.

There’s also a less glamorous but equally important factor: scale. When Rivian launched the R1T and R1S, it was a newcomer building expensive, low-volume vehicles. Now, with higher production targets in sight, it can negotiate better supplier pricing.

Something as basic as a windshield reportedly costs half as much on the R2 compared to the R1. Add in the fact that the R2 is simply smaller, and therefore uses fewer raw materials, and the math starts to make sense. At this point, all that’s left is to see how Rivian executes on production and sales.

The R2 recently went into production in Normal, Illinois, and Rivian expects it to be a success. As a result, they’ve announced a new plan for their Stanton Springs North plant in Georgia.

Under the new strategy, the automaker is increasing the plant’s initial production capacity to 300,000 vehicles annually. That’s 100,000 units more than the original target and Rivian said the change will “facilitate a lower cost per unit, while also providing significant room for future expansion of capacity in later phases.”

More: Biden Admin Finalized Rivian’s $6.6 Billion Loan Before Trump Took Office

As part of the change, Rivian worked closely with the Department of Energy to update its original $6.6 billion loan. Its value has been reduced to $4.5 billion and is “aligned with the updated facility design and roadmap for the initial phase.”

The devil is in the details, with CNBC reporting that the loan was originally structured for two phases of production and an annual capacity of 400,000 units. The new agreement reportedly just has one phase and enables Rivian to “draw on the loan sooner and have greater initial production.”

Rivian expects to start using those funds in 2027, and the plant is scheduled to begin production in late 2028. Vertical construction is set to begin this spring, and “preparations are underway for the development of the stamping press area, one of the most capital-intensive and technically demanding projects within the plant from a construction perspective.”

Q1 Results

Besides the Georgia plant changes, Rivian announced its first-quarter results. The automaker built 10,236 vehicles and delivered 10,365 to customers.

Consolidated revenue increased 11% to $1.38 billion, and the company posted a $416 million net loss for the quarter. That’s down from a $541 loss in Q1 2025, but they “benefited from a $506 million gain in other income related to the Series A capital raise and related deconsolidation of Mind Robotics.”

Their outlook for 2026 isn’t stellar as they’re expecting to deliver between 62,000 and 67,000 vehicles. While those are decent numbers, their adjusted EBITDA is a $1.8 – $2.1 billion loss.

When Rivian unveiled the production R2 last month, the company briefly mentioned a Launch Package. With production now underway, the automaker has circled back and provided a few more details.

For a “limited time,” the Launch Package comes standard on the R2 Performance and effectively rewards early owners for their vote of confidence. As their way of saying thanks, Rivian throws in a handful of extra features at no-cost.

More: Rivian R2 Goes Into Production As A Make Or Break Electric Vehicle

Most of the upgrades are relatively minor, but consumers will receive a special key fob that resembles a carabiner and features a green anodized finish. It appears to be contrasted by a golden accent on the lower half.

Customers will also find a standard tow package, which is typically an option on the R2 Performance. It enables the electric crossover to tow up to 4,400 lbs (1,996 kg), which is considerably more than the Jeep Recon’s rating of 3,300 lbs (1,497 kg).

One of the biggest upgrades is a lifetime subscription to Autonomy+. This provides Universal Hands-Free driving on over 3.5 million miles (5.6 million km) of roads in the United States and Canada.

Autonomy+ normally costs $49.99 per month or $2,500 as part of a one-time purchase. As a result, it’s free inclusion in the Launch Package is a pretty big deal.

Last but not least, customers can get their R2 in Launch Green. The hue debuted on Launch versions of the R1 and will be an extra cost upgrade. Rivian hasn’t said how much it will cost, but noted the model will also be offered in Esker Silver, Catalina Cove, Half Moon Grey, Glacier White, Midnight, and Forest Green.

As a refresher, the R2 Performance starts at $57,990 and features a dual-motor all-wheel drive system developing 656 hp (489 kW / 665 PS) and 609 lb-ft (825 Nm) of torque. It enables the crossover to accelerate from 0–60 mph (0-96 km/h) in 3.6 seconds and travel up to 330 miles (531 km) on a single charge.

Other highlights include Matrix LED headlights, integrated tow hooks, and a rear liftgate with drop down glass. They’re joined by Compass Yellow accents and 21-inch wheels.

The interior is available in two colors known as Black Crater and Coastal Cloud. Both feature Birch wood trim and “soft textile accents.” They’re joined by 12-way power front seats with heating and ventilation as well as heated rear seats and a heated steering wheel. Buyers will also find a nine-speaker premium audio system and a flashlight integrated into the driver’s door.

Top Detroit automaker CEOs like Ford’s Jim Farley and GM’s Mary Barra earn hundreds of times what their company’s line workers do, but they look like they’re living on the bread line compared with Rivian’s boss.

Rivian founder and CEO RJ Scaringe was paid a shocking $403 million last year, company filings reveal. That compares with $27.5 million for Farley and $29.9 million for Barra over the same period. Rivian delivered 42,247 EVs in the United States last year, while Ford moved 2.2 million vehicles, GM 2.85 million domestically, and Tesla sold roughly 1.65 million globally in 2025.

Related: Mary Barra’s $29.9 Million Payday Came In The Same Year GM Lost $7.9 Billion On EVs

That makes Scaringe one of the most highly paid automaker bosses in the world, and means his pay package is thousands of times the size of the one awarded to the men and women who make Rivian’s cars and trucks. It’s not quite up there with Tesla CEO Elon Musk’s pay package, which could net him $1 trillion over the next decade, but it’s still huge.

Sales Down, CEO Pay Up

What makes Scaringe’s pay award all the more shocking is that it comes at a time when Rivian hasn’t exactly been going from strength to strength. Yes, it managed to post its first-ever gross profit in 2025 by cutting costs, and began production of the smaller R2 SUV, but its stock price is still way down from its 2021 peak, and sales slumped last year.

Of course, Scaringe didn’t scoop the whole $403 million in cash. The award consisted of $373.5 million in stock options, $26.6 million in stock awards, and a more modest $1.12 million taken as a salary.

Pay Could Hit $4.6 Billion

Rivian’s board last November voted to scrap a previous performance-related pay structure for Scaringe, laid out in 2021, that was later deemed unrealistically ambitious. Under the terms of the new deal, his salary is set to increase to $2 million, and he could net $4.6 billion through stock options if he grows the company’s stock price to $140 over the next 10 years.

But given that the stock has mostly hovered below $20 for the past three years, down from $130 when Rivian went public in 2021, Scaringe has his work cut out.

A little over two years after unveiling the R2 concept, the production model is now being built in Normal, Illinois. That’s particularly impressive considering a tornado hit and damaged the facility last Friday.

Rivian didn’t have much to say about the production process itself, but noted the first vehicles will undergo a series of final quality and validation checks. If everything pans out, the first customer deliveries will begin later this spring.

More: Rivian’s Most Affordable Model Arrives First In Its Most Expensive Form

The automaker called production a “milestone moment” for the R2 and said it means the “manufacturing process has been verified, every weld has been checked, every software string has been validated, and every interior material has been scrutinized to meet the high bar we set for ourselves and for you, our community.”

Rivian’s COO Javier Varela went further as he said the R2 “represents a major advance in engineering excellence and manufacturing efficiency, driving meaningful improvements in cost and quality.” Those sentiments were echoed by CEO RJ Scaringe, who called the vehicle “incredible.” The executive added he can’t wait until customers get their hands on the EV.

The R2 is being launched in $57,990 Performance guise, which features a dual-motor all-wheel drive system developing 656 hp (489 kW / 665 PS) and 609 lb-ft (825 Nm) of torque. It enables the model to accelerate from 0–60 mph (0-96 km/h) in as little as 3.6 seconds and have a range of up to 330 miles (531 km).

The range-topping variant comes nicely equipped with a Black Crater Signature interior with Birch wood trim as well as 12-way power front seats with heating and ventilation. They’re joined by heated rear seats, a heated steering wheel, and a nine-speaker premium audio system.

Early models also come with a Launch Package, which includes a lifetime subscription to Autonomy+ as well as a towing package that enables the crossover to haul 4,400 lb (1,996 kg). Buyers will also find a green anodized key fob as well as an available Launch Green paint job.

A more affordable R2 Premium is scheduled to follow later this year. It starts at $53,990 and has a dual-motor all-wheel drive system with 450 hp (356 kW / 456 PS) and 537 lb-ft (727 Nm) of torque.

The R2 Standard lineup is set to arrive in 2027 and offer Short and Long Range variants. The former will cost “around $45,000” and have a range in excess of 275 miles (443 km).

Rivian has high hopes for the R2, and they have reason to be excited as the model easily beats the Jeep Recon on paper. However, it appears Mother Nature isn’t a fan.

According to a company e-mail, Rivian’s factory in Normal, Illinois, was hit by a tornado on April 17. The national weather service reports a supercell traveled across the state on Friday night and spawned 25 tornados.

More: Rivian’s Most Affordable Model Arrives First In Its Most Expensive Form

The tornado that struck the plant started at 9:57 pm and was an EF1 twister that produced winds up to 110 mph (177 km/h). It traveled 10.3 miles (16.6 km) and was 800 yards (2,400 feet) wide. The government said it “damaged several metal buildings,” caused significant tree damage, and flipped over a semi on I-55.

Pictures posted on the Rivian Forums show a section of the exterior wall collapsed and the ceiling partially caved in. There’s also debris in the surrounding area, as well as a flipped-over semi-trailer, and damage to another building.

In a message seen by CNBC, Rivian CEO RJ Scaringe said “Building 2 has sustained damage and is closed for the time being as we complete our assessments.” He added, “I am incredibly relieved to share that there were no injuries at our plant.”

Damage reportedly occurred in areas related to “parts storage and logistics” for the R2. While the pictures look pretty bad, Scaringe suggested operations in these sections could resume as early as this week.

The R2 will be launched in $57,990 Performance guise, featuring an 87.9 kWh battery pack and a dual-motor powertrain with 656 hp (489 kW / 665 PS) and 609 lb-ft (825 Nm) of torque. This enables it to accelerate from 0–60 mph (0-96 km/h) in as little as 3.6 seconds and have a range of up to 330 miles (531 km).

Additional variants will follow, including an R2 Standard Short Range in late 2027. It’s slated to cost around $45,000 and have a range in excess of 275 miles (443 km).

In a market where electric SUVs are starting to blur into one another, standing out is no longer optional. The Rivian R2 is a pivotal model for the brand, bringing its EV technology into a smaller, more affordable package. If Rivian wants to grow into a true volume manufacturer and challenge legacy players, the R2 needs to land with buyers.

Its biggest hurdle is persuading shoppers to choose it over the Model Y, still America’s best-selling EV by a wide margin that even Tesla’s own Model 3 does not approach, let alone anything else. As these side-by-side photos of an R2 and a Model Y show, the pair have similar footprints but look absolutely nothing alike.

Read: Rivian R2 And Jeep Recon Solve The Same Problem, But Which One Solves It For You?

These photos, captured by Reddit user SciencesNotStudies at Rivian’s headquarters, show both vehicles charging next to each other. Whereas Tesla opted for a sleek profile in the Model Y, making it look like a bloated Model 3 rather than a traditional SUV, the Rivian R2 is very different. It’s boxier, stands taller, and is much more upright, looking just like the R1, albeit on a slightly smaller scale.

Interestingly, the Model Y is slightly longer than the R2, measuring 188.6 inches (4,790 mm) compared to the Rivian’s 185.9 inches (4,722 mm). The R2 is also slightly narrower at 75 inches (1,905 mm), versus 75.6 inches (1,920 mm) for the Tesla.

The biggest gap appears in height, with the R2 standing 66.9 inches (1,700 mm) tall compared to the Model Y’s 63.9 inches (1,624 mm). The Rivian’s wheelbase is also 1.8 inches longer, at 115.6 inches (2,935 mm) compared to 113.8 inches (2,890 mm) for the Tesla.

The ground clearance also differs dramatically between the pair. Like the R1, the R2 has been designed to be right at home off-roading, offering 9.6 inches (245 mm) of clearance compared to the Model Y’s 6.0 inches (152 mm).

What About Performance?

The first version of the R2 to be sold, the Performance Launch Edition, rocks a pair of electric motors delivering 656 hp and an 88.7 kWh battery pack, giving it slightly more power than the Model Y Performance with 618 hp and better range, 328 miles (528 km) compared to 306 miles (492 km). However, as the Tesla weighs less, it hits 60 mph (96 km/h) in 3.3 seconds compared to the R2’s 3.6 seconds.

Where The Numbers Stop Favoring Rivian

And then there’s pricing, which is not doing Rivian many favors on paper. The R2 Performance Launch Edition starts at $57,990, essentially mirroring the $57,490 Model Y Performance. However, step down to the mid-tier R2 Premium with 450 hp and all-wheel drive, and you’re still looking at $53,990, a noticeable jump over Tesla’s Model Y Premium AWD at $48,990.

Also: Rivian R2 Starts At $57,990, But Cheaper Versions Are Still Coming

Rivian has confirmed a base rear-wheel-drive R2 at $45,000, though that version will not arrive until 2027, which is a long wait. Tesla, meanwhile, already covers that ground with two RWD options, starting at $39,990 for the standard version and $44,990 for the Premium.

Although the R2 is Rivian’s answer to the Tesla Model Y, matching its sales volume will be a tall order. Like the R1, it appears to lean toward a more niche appeal and could end up competing more closely with models like the Jeep Recon.

Lead image Reddit / SciencesNotStudies