RivianTrackr

The R2 configurator is live and you can finally price one out, but the only trim you can build is the $57,990 Performance, and the roughly $45,000 R2 we were all sold on is nowhere on the page yet. Add in colors that mostly cost extra and a Performance that lands dollar for dollar with a Model Y Performance, and the attainable Rivian still feels like a future-tense thing.

R2 production officially started in April, Q1 came in ahead of estimates with a third straight quarter of positive gross profit, deliveries grew 20 percent year over year, and Volkswagen raised its stake to 15.9 percent. RIVN is down 31 percent on the year anyway. The gap between what Rivian is doing and what the market is pricing in has rarely been this wide.

Rivian's AI-defined vehicle framing sounded like marketing theater when Chief Software Officer Wassym Bensaid first dropped it on stage at Autonomy and AI Day back in December. Five months later, with Rivian Assistant actually shipping and a wider AI strategy coming into focus across voice, autonomy, and the Volkswagen joint venture, it's a lot harder to write off as buzzword theater.