California-based EV maker Rivian Automotive (NASDAQ:RIVN) unveiled its new R2 SUV and showcased its upcoming R3 crossover at an event at Laguna Beach on Thursday and there are already over 68,000 reservations for the five-seater SUV.

What Happened: “Overwhelmed by the wonderful response to our new vehicles: R2, R3 and R3X,” Rivian CEO RJ Scaringe wrote on X, formerly Twitter, on Friday.

“In less than 24 hours, we've taken more than 68,000 R2 reservations.”

Rivian hopes to start production of the R2 in the first half of 2026 at its factory in Normal, Illinois. Despite the many months until production starts, the company has already opened reservations for the vehicle for a $100 deposit which will be refunded on confirming the vehicle order.

The EV maker lost nearly $43,372 per vehicle delivered in the last quarter — up from nearly $31,000 in the previous quarter but significantly down from the $124,000 during the same period in 2022.

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Read More: Did Tesla Crash Rivian’s R2 Launch Party With A Livestream About Model 3? Here’s Who Won The Most Eyeballs

Photo via Richard Truesdell on Wikimedia