Rivian Automotive Inc.'s (NASDAQ:RIVN) upcoming R2 crossover SUV was reportedly spotted testing in Alaska, according to recently surfaced images.

R2 Spotted In Fairbanks

On Sunday, a user on the social media platform Reddit shared pictures of the SUV undergoing testing in Fairbanks, Alaska. "Spotted it earlier today at our local Supercharger station and I’m now 99% sure it’s an R2," the user shared. The images also show the SUV charging at a Tesla Inc. (NASDAQ:TSLA) Supercharger.

The vehicle was likely undergoing cold-weather testing, which determines whether an EV is capable of performing in sub-zero conditions without issues, with colder temperatures having a negative effect on EV batteries in particular.

The Rivian R2's Importance

The R2 and its $45,000 price tag could be pivotal for the RJ Scaringe-led automaker and its goal of wrestling some of the U.S. EV market share away from Tesla Inc. (NASDAQ:TSLA) and Elon Musk. Tesla's current market share in the U.S. EV sector is well over 50% and the Model Y SUV emerged as the best-selling EV in the country last year.

The price tag would also make Rivian, as a brand, more accessible to the wider market, with the current R1S and R1T models retailing in excess of $70,000. The $45,000 price tag could also qualify it for Canada’s EV rebate after the Mark Carney-led administration in Ottawa revised the country’s emissions standards.

Rivian’s Self-Driving Goals

While it could seem like a tall order, Rivian's self-driving technology, which includes a LiDAR and camera-based approach, would also be seen in the upcoming R2 models and could provide a boost to the company's sales.

Rivian's Autonomy+ subscription, which would be available for a one-time payment of $2,500 or a monthly subscription fee of $49.99, could also be key in its pursuit to grow. The automaker has said that the technology would launch sometime in early 2026.

It’s worth noting that Tesla’s Full Self-Driving (FSD) is available with a $99/month subscription or as an $8,000 one-time payment until Valentine’s Day this year.

According to Benzinga Edge Rankings, Rivian scores well on Momentum and has a favorable price trend in the Long term.

Price Action: RIVN surged 7.91% to $14.81 during regular trading on Friday and surged 1.09% to $14.97 during pre-market trading on Monday.

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Photo courtesy: Michael Berlfein via Shutterstock

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