Photo Credit: RivianTesla has long been seen as the benchmark for electric vehicle efficiency, especially in the crossover segment.Even Rivian CEO RJ Scaringe previously drove a Tesla Model Y — but now his company may have built a very close rival.What's happening?According to The Motley Fool, Rivian recently unveiled the full R2 lineup as a mainstream compact-to-midsize electric SUV. Newly published Environmental Protection Agency certification figures suggest the R2 could stand shoulder to shoulder with Tesla's Model Y on one of the most important EV metrics: efficiency.AdvertisementAdvertisementEPA certification figures show the Rivian R2 Performance AWD and Tesla Model Y are both rated at 105 MPGe combined and use 32 kilowatt-hours per 100 miles, The Motley Fool reported. In other words, they consume energy at the same rate.Where Rivian seems to hold the advantage is range. The R2 is rated for 330 miles, compared with 306 miles for the Model Y, due in part to a larger battery pack — 86.8 kilowatt-hours versus 84.0 kilowatt-hours.Rivian said reservation holders will begin receiving final-order invitations on June 9, and deliveries are expected two to six weeks after confirmation.Why does it matter?Tesla's efficiency lead has helped define the category for years. The R2 matches the Model Y in energy use despite being slightly heavier and boxier.AdvertisementAdvertisementThat suggests Rivian has made meaningful gains in engineering and battery performance. The R2 and Model Y target similar buyers and price points. It is a direct challenge in the compact-to-midsize crossover SUV space.More competition in the segment could improve value. EVs can already help owners save money on fuel, especially compared with gas-powered SUVs, and they typically come with lower routine maintenance costs as well.If more automakers can deliver strong efficiency alongside long range, it could make the switch easier for buyers who have been waiting for a practical, everyday electric SUV.What's next?Rivian is now moving the R2 closer to customers, with final-order invitations and deliveries just around the corner.AdvertisementAdvertisementTesla still has highly efficient vehicles in its lineup, including the Model 3. But in the crossover matchup many families are likely to care about most, Rivian's R2 appears to have arrived as a true peer — and one that goes even farther.Get TCD's free newsletters for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here.