EV maker Rivian will provide the first test rides of its upcoming R2 at the 2026 SXSW Music Festival & Conference.
In the 2025 edition, the company founded and led by RJ Scaringe — which is the headline sponsor of the event — showcased an early version of the R2 prototype.
This year, it is set to debut the model’s production version on the first day of the festival, which coincides with the timeline provided by the company last month — March 12.
“This year is even more exciting as we celebrate the upcoming launch of R2,” Rivian confirmed in a new blog post on Monday.
“You can check out R2 and so much more at the Electric Roadhouse, our central hub for panels, events, and live music from March 13-18,” the company added.
First Rides
One of Rivian’s recurring festival attractions is the Electric Joyride, which was also featured in last year’s edition.
At that time, the company invited participants to “ride shotgun” and “experience the electrifying on-road and off-road capability of R1 on a closed course with an expert driver.”
The experience used production units of the Gen 2 R1T pickup and the Rivian R1S SUV.
This year, however, the Electric Joyride will be dedicated to the upcoming R2 mid-size SUV.
Participants will be able to “experience the capability of R2 from the passenger seat as an expert driver navigates steep hills, sharp turns, and uneven ground on our custom off-road course built in the middle of downtown Austin.”
R2 Details
While a timeline for the first test drives remains unknown, Rivian is expected to disclose it alongside full specs, pricing details, and the first customer delivery date on March 12.
The model will launch with a dual-motor, all-wheel drive (AWD) variant, priced above the entry-level $45,000 reiterated by the company throughout the past year.
Although Rivian has not confirmed if that version will be available before the end of the year, founder and CEO RJ Scaringe told CNBC last month that the variant will be launched “shortly thereafter.”
Automotive reviewer Doug DeMuro said he has seen the R2’s pricing and described it as “quite compelling,” adding that the knowledge made him even more positive about the vehicle.
The media embargo on the first reviews of the R2 SUV was lifted on February 10, revealing more about infotainment and color options, among other specs.
R2 Delivery Guidance
Upon reporting its fourth quarter earnings last month, Rivian issued a delivery guidance of between 62,000 and 67,000 vehicles for 2026.
The company said the target includes the R1 models, the commercial electric delivery van, and the upcoming R2.
Management said it expects R1S, R1T and EDV deliveries to remain “roughly in line with our 2025 total volumes.”
As Rivian delivered a total of 42,247 electric vehicles last year, the new guidance implies the company expects deliveries of the R2 to reach between approximately 19,700 and 24,700 units.
Cash Burn and Profitability
Last week, speaking on the Buy Hold Rant podcast, RJ Scaringe said the R2 will be essential to scaling Rivian into “a very large company,” and ultimately achieving profitability.
In mid December, when asked whether Rivian would need to raise additional capital to reach profitability, Scaringe pointed to the company’s cash reserves, as previously referenced by Chief Financial Officer Claire McDonough.
“What we’ve been able to accumulate in terms of cash allows us to launch R2, ramp R2 without needing additional capital,” Scaringe said then.
Throughout 2025, Scaringe emphasized that US consumers currently have limited electric vehicle options, and that the upcoming R2 will provide more.
“The goal isn’t to sell 50,000 R2s a year,” he stated.
Addressing Rivian‘s industry record cash burn rate of over $24 billion, the CEO said he thinks that “probably the least understood part of the business is that we’re spending to become a very large company.”
“And we’re not a very large company until we have R2. R2 is how we get there,” he added.
