Rivn stock still trades nearly 80% below its IPO price of $78, even as Rivian launched the R2 SUV in the U.S. on June 9. The new model gives the company a cheaper path to volume, and investors now have a clearer benchmark for whether that lower entry price can translate into more deliveries.
Leo Sun noted that Rivian went public in 2021 with three electric vehicles, the R1T pickup, the R1S SUV, and custom electric delivery vans for Amazon and later other companies. Rivian’s launch editions started at $75,000 for the R1T and $77,500 for the R1S, then moved to $85,000 to $95,000 for later versions, so the R2’s $57,990 starting price is a meaningful reset for buyers comparing the lineup.
R2 SUV price resets Rivian
$57,990 is the launch price Rivian set for the R2 SUV, and the company plans an even cheaper version at around $45,000 by the end of 2027. That path gives Rivian a lower-priced model to sell before the cheaper trim arrives, while keeping a second price point available for customers who wait.
62,000-67,000 vehicles is Rivian’s delivery target for this year if the R2 rollout works as intended. That range matters because Rivian’s annual production fell from 57,232 vehicles in 2023 to 42,284 vehicles in 2025, a drop that shows how much volume the company has to rebuild before the stock story changes.
Leo Sun on Rivn stock
Nearly 80% below the IPO price is the gap Leo Sun highlighted, and that is the tension in the story: Rivian is launching a lower-priced model that may improve margins, but its stock still trades far under $78. The R2 has to do more than arrive on schedule; it has to broaden demand enough to matter to the delivery numbers Wall Street watches.
Three times this year’s sales is where Rivian stock now trades, a valuation that leaves little room for execution errors. Analysts expect revenue to more than triple from 2025 to 2028 if the R2 effort pays off, so the next read on Rivn stock is straightforward: whether the lower sticker price turns into a higher delivery run rate fast enough to justify that multiple.
