Rivian R3 will cost significantly less than R2 — InsideEVs

In the United States, electric vehicle manufacturer Rivian plans to set the price of its upcoming R3 hatchback substantially lower than that of the R2 model. Company founder and CEO R. J. Scaringe said this in an interview with The New York Times, InsideEVs reports.

The R3 price has not yet been announced

Rivian has not yet disclosed the exact price of the R3. At the same time, Scaringe said that the company’s next product will lower the brand’s price threshold. According to the publication, the current entry-level R2 Performance with the Launch Package costs about $60,000.

By the end of 2027, Rivian plans to release the base R2 Standard version priced at $45,000. It will have rear-wheel drive and a company-stated range of more than 275 miles, or about 443 km. InsideEVs notes that based on these benchmarks, the R3 price could be below $40,000, although Rivian has not confirmed this.

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R4 and R3 production

Scaringe also mentioned the R4 model, which, he said, will cost even less than the R3. There are no details about its body type or technical specifications. Earlier, the Rivian chief said that the R4 and R5 would be two different vehicles on a shared platform.

The R3 will be produced at Rivian’s future plant in Georgia, where production is expected to begin in 2028. The company plans to start sales of the model with the R3X, a high-performance version designed for off-road driving.

At present, Rivian’s main new vehicle is the R2. Deliveries of this model began in June, and the automaker expects it to help sell up to 70,000 electric vehicles this year.