Rivian R3 Could Start in the $30,000s

Rivian is getting ready to make its electric vehicles more accessible, and the upcoming R3 could play a major role in that strategy. Rivian founder and Chief Executive Officer RJ Scaringe says the smaller electric vehicle will be priced “materially lower” than the R2, giving buyers an idea of where the company plans to position its next major model.

The R2 is designed to bring Rivian into a more affordable segment than the larger R1S and R1T. An entry level R2 is expected to eventually start around $45,000. If Rivian intends to price the R3 materially below that figure, it could potentially push the company’s starting price into the $30,000 range. Rivian has not announced an official R3 price, however, so any specific figure remains an estimate for now.

The R3 will also be noticeably smaller than the R2. Rivian previously announced plans for multiple powertrain configurations and 2 battery sizes, with the larger battery targeting more than 300 miles of driving range. A high performance configuration is also expected to accelerate from 0 to 60 miles per hour in under 3 seconds.

Rivian is developing an R3X as well, giving the compact model a more performance focused personality with additional capability and distinctive styling.

The R3 is expected to follow the R2 rather than compete with it directly at launch. Production is currently targeted for 2028 at Rivian’s Georgia manufacturing facility.

Scaringe has also indicated that Rivian plans to go even further downmarket after the R3. A future vehicle known as the R4 is expected to move the company’s price point lower again.

That creates an interesting long term strategy for Rivian. The R1 family established the brand at the premium end of the electric vehicle market, the R2 expands its reach, and the R3 could eventually bring Rivian within reach of a much larger group of buyers.