The Rivian R3 is expected to take the company’s electric vehicle lineup into a lower price range, with CEO RJ Scaringe confirming that the upcoming model will cost materially less than the R2. Rivian also has an R4 planned, which Scaringe said will move pricing even further downward.
Rivian R3 Could Target a Sub-$40,000 Price
Speaking with The New York Times, Scaringe discussed Rivian’s upcoming products and confirmed that the R3 will bring the automaker’s price point down significantly.
“The next product, which we creatively call R3, is going to take the price point down. We haven’t announced pricing yet, but it will move materially lower. There’s a product beyond that, called R4, which again moves that further,” Scaringe said.
Rivian has not announced pricing for either the R3 or R4. The R2 is currently available at nearly $60,000 in Performance Edition with Launch Package guise, while a more affordable R2 trim is planned for 2027 with a targeted price of $44,990 before destination.
Based on those price points, the R3 is expected to target a price below $40,000. The model would compete against vehicles including the Hyundai Ioniq 5, Subaru Unharted, and Toyota bZ.
R3 Production and Expected Launch
The Rivian R3 will be produced at the company’s upcoming Georgia facility. Like the R2 and R1, the R3 will initially debut in a more costly trim, with the off-road-biased R3X set to lead the model’s launch.
The R3 is unlikely to arrive before 2028, meaning pricing conditions could change before the vehicle reaches the market.
Rivian Could Expand Beyond the R3 and R4
Scaringe has also said that Rivian’s future lineup could eventually include an R4, R5, and even an R6. However, the company has not revealed what forms those electric vehicles may take.
A product roadmap shown in 2024 concealed future products under canvas. Smaller, more affordable vehicles could become part of Rivian’s expansion, potentially alongside new fleet-ready vehicles beyond the Amazon delivery van.
Rivian’s Push Toward More Affordable EVs
Rivian entered the market with the R1 twins, but the truck and SUV both cost more than $80,000 when destination charges are included. Their size, positioned between mid-size and full-size vehicles, can also make them impractical for some customers.
The R2 has broadened Rivian’s product offering, and additional models with different price levels could allow the automaker to reach a larger group of buyers. Potential future additions mentioned include an R2 Performance and an R2T pickup.
With the R3 and R4 planned as lower-priced additions to the lineup, Rivian is preparing for further expansion beyond its existing models, although pricing and the exact forms of several future vehicles have yet to be announced.
