Rivian CEO Announces Lower Pricing for R3 and R4 EVs

Rivian CEO RJ Scaringe announced a pricing strategy for the company's upcoming electric vehicle lineup, stating that the R3 hatchback will be priced "materially lower" than the R2. A subsequent model, the R4, will be priced even lower than the R3. While specific figures remain unannounced, the R2 Standard is expected to start at $45,000 by late 2027, indicating the R3 will likely target a price point below $40,000.

Production for the R3 is scheduled to begin in 2028 at the company's Georgia factory, with initial sales led by the high-performance R3X variant. Scaringe described the R4 and R5 as a "sibling set" that will share the same platform.

The viability of these budget-friendly models depends on the current launch of the R2. Deliveries for the R2 began in June, and the company has set a sales target of up to 70,000 units for the current year.