Rivian's next-generation R3 electric vehicle is expected to launch at a significantly lower price than the R2.

On Sept. 21, electric vehicle outlet InsideEVs reported that Rivian founder and CEO RJ Scaringe (RJ 스캐린지) said in a recent interview, "We will make the R3's price range meaningfully lower than the R2."

In an interview with The New York Times, Scaringe described the R3 as "the next product" and said it would come with a lower price point. He said he had not yet disclosed the price but it would be "significantly lower." He also mentioned the follow-on R4 as "a product that goes even lower." This effectively formalises Rivian's pricing strategy to expand from the midsize R2 into cheaper models.

The entry trim of the R2 currently on sale is close to $60,000, based on the launch high-performance model and launch package. Rivian has said it plans to introduce an R2 standard trim starting at $45,000 by the end of 2027. The model will be rear-wheel drive and is expected to have a range of more than 275 miles, based on Rivian estimates.

By that measure, the R3 is more likely to come in at a lower price than even the R2 standard. The outlet, based on this, suggested the R3 could start below $40,000. Rivian has not disclosed an exact price, but that is why there is speculation the R3 could effectively serve as the brand's mass-market electric vehicle.

The R3 drew attention from its unveiling, rivaling the R2, but detailed specifications are still known only in limited form. Production is planned at a new factory Rivian plans to build in Georgia, with production start presented as 2028. Sales are expected to begin with the R3X, a high-performance, off-road-oriented model. Scaringe previously identified the R3X as the first R3 variant to go on sale, aligning with that direction.

The next lineup is less clear. The R4 Scaringe mentioned is expected to be priced lower than the R3, but its body type has not been disclosed. Still, Scaringe said in a 2025 podcast interview that the R4 and R5 were "two very different vehicles, but sibling products that share the same platform." It suggests Rivian is looking to target a broader price range with a single platform.

For now, Rivian's top priority is establishing the R2. The company began R2 deliveries in June this year and expects the new vehicle could help it sell up to 70,000 electric vehicles this year. Scaringe also said in a podcast last year that the R2 "must succeed." The specific competitiveness of the R3 and R4 is expected to become clearer after Rivian's ramp-up of R2 production and its market acceptance are confirmed.