Rivian R2 price to start at $47,000, qualifying for $7,500 Federal Tax Credit

In two days, Rivian will unveil its latest Rivian R2 electric vehicle (EV) and its major leak has revealed a surprising entry model price.

Chris Hilbert, a tech enthusiast, has shared the specifications on the social media site X. The price has been crawled from the official Rivian website.

The vehicle could start at $47,500 which may become a huge buying factor for the customers. Rivian CEO, RJ Scaringe said in his previous interview that the price will be an interesting part of this vehicle and it now appears to be true.

Compared to this, Rivian R1T starts at $70,000, and the R1s at $75,000. That’s approx 30 percent price reduction in this new model and it will help the company to achieve its primary goals of introducing a vehicle at a lower price point and achieving full Federal tax credit.

Tax Credit:

Rivian vehicles have garnered a big demand in the U.S. EV market but its vehicles aren’t eligible for a full $7,500 Federal tax credit due to high MSRP. Therefore, both of these models can only tap half of the Federal subsidies.

With R2, Rivian could expand its market even further and bring more customers into its range with this low price point.

With a Federal tax credit, this price would go down to $40,000 for the entry buyer. This price will make the vehicle over 40 percent more affordable than Rivian’s other two options.

That makes a difference for any person who’s looking to buy a new electric vehicle. There could be more drive systems available when the vehicle launches but we’ll have to wait to find that out.

Rivian R2 will launch officially on March 7 and it will be livestreamed on social media site X.