Rivian CEO: R3 will be 'materially' cheaper than R2, R4 to follow

Rivian CEO RJ Scaringe said in a New York Times interview that the upcoming R3 crossover will be priced "materially lower" than the R2, and that a follow-up model, the R4, will push prices down further. He did not give specific numbers, but the comments are the clearest sign yet that Rivian intends to move its lineup toward the mass market after the R2 launch.

The comparison is complicated by the R2's pricing structure. The base R2 is widely cited at $45,000, but that version is not due until late 2027; the launch edition costs $57,990. Scaringe previously said the R3 would land in the "mid to high 30s," which would put it materially below the base R2.

R3 is planned for production at Rivian's Georgia factory, where manufacturing is scheduled to start in 2028. The R4, described as a sibling to the R5 on an entirely new platform, has no engineering team assigned yet and no announced date. Meanwhile, Rivian raised its 2026 delivery guidance to 65,000–70,000 vehicles after R2 deliveries began in June, though the company still expects an adjusted EBITDA loss of $1.8 billion to $2 billion this year.