The 2027 Rivian R2 is here.

Well, almost. The only model available this spring will be the most expensive Rivian R2 Performance trim. Which is what usually happens with new EV launches.

That base $45,000 Rivian R2 is not available yet. We will have to wait until the end of next year for it. It will actually cost $46,500 and come with a smaller battery rated at around 275 miles of range. That figure is decent, but not exactly groundbreaking in today’s EV market where range expectations keep increasing.

By looking at the whole lineup, it seems the R2 Premium could become the obvious best seller. Even if it starts at around $54,000. For that money, you do get a full “Rivian Experience.” With the wood trim, the AWD system, and honestly too much power for daily driving. But you still get a 330-mile range, which is really good and puts it right in the competitive sweet spot for a midsize electric SUV.

However, $55,000 is quite high. It is about $5,000 more than the Tesla Model Y Premium AWD, which will likely be seen as the R2’s main competition.

A Hyundai Ioniq 5 Limited AWD is even less expensive at around $49,000, and it comes extremely well equipped. Features like ventilated seats, ultra-fast charging, and a tech-heavy interior make it one of the best value EVs currently on the market.

However, the only model available this year, the R2 Performance trim, is priced right against the Model Y Performance. The Tesla starts at $57,500. Just $500 below the R2. That makes the comparison almost unavoidable for buyers looking for a sporty electric SUV.

I guess the pricing is pretty competitive but not that amazing. Rivian isn’t massively undercutting its rivals the way Tesla did in its early days. Instead, it seems to be positioning the R2 as a premium alternative with a distinctive design and brand identity.

You also don’t get that much for your $46,000 in the base car. A FWD model with a smaller battery is really not that competitive against the loaded Ioniq 5 Limited RWD for roughly the same price. Many buyers might prefer the Hyundai simply because of its equipment and proven reliability.

However, you’ll get something new that most people haven’t seen yet. And the Rivian brand is rather unique and still has a very cool image in the EV world. Rivian vehicles stand out on the road and carry a certain adventurous lifestyle appeal that few other EV brands have managed to capture so far.

That brand factor might matter more than raw specs for many buyers. The R2 could attract people who want something different from the sea of Model Ys already on the road.

Now we’ll have to see what Lucid is working on with the 2027/28 Lucid Earth. If Lucid manages to deliver its usual class-leading efficiency and long range in a more affordable SUV, the competition in this segment could become even more interesting. By the time that vehicle arrives, the midsize EV SUV market might look very different from today.

Which one would you get?