Electric vehicle manufacturer Rivian on Thursday introduced fresh, more affordable EV lineup. The company announced R2 SUV, starting at $45,000, and surprised investors with the an even lower-priced R3 and R3X models to come.
Rivian’s chief executive officer, RJ Scaringe, unveiled the new vehicles at an event from Laguna Beach, California, expressing that these models represent the future of the company. Previously, Rivian planned to build the R2 at a new $5 billion Georgia plant. However, to expedite production and save $2.25 billion, the company will instead manufacture it at its existing Illinois facility. This shift allows for a first-half 2026 launch.
Talking about the new R2 model, it aims to offer an accessible entry point into the EV market, appealing to a broader customer base. With its competitive pricing, the R2 is positioned to disrupt the midsize SUV segment, which is currently dominated by pricier alternatives. Moreover, the R2 is designed to be more than just an affordable option for consumers. With a range exceeding 300 miles on a single charge and the ability to accelerate from 0 to 60 mph in under three seconds, the R2 promises to deliver on performance as well.
The R3 and its performance variant, the R3X, were unexpected additions that caught both consumers and investors by surprise. While details on the R3 series remain sparse, Scaringe hinted at a pricing strategy that would undercut the more expensive R1 models, making the new crossovers even more attractive to potential buyers.
Prior to this launch, Rivian’s automobile lineup included R1T, an all-electric pickup truck designed for both on-road and off-road performance, and R1S, an all-electric SUV that combines luxury, performance and sustainability, designed to accommodate more passengers. The base price for the R1T with the Large Battery Pack and standard 21-inch road wheels is $87,000. On the other hand, the R1S starts at $92,000 (with the Large Battery Pack and standard 21-inch road wheels).
