AUTO

Rivian Unveils Electric SUV Lineup: R2, R3, and R3X Models, Starting at $45,000

March 8, 2024

Rivian launched its highly anticipated electric SUV crossovers: the R2, R3, and R3X models.
Rivian said its R2 will start at around $45,000, with deliveries beginning in the first half of 2026, followed by the R3 and R3X.
Rivian’s strategic moves include ending its exclusive deal with Amazon, shifting production to Illinois, and downsizing its workforce by 10%, reflecting efforts to navigate challenges in the EV market.

On March 7, Rivian revealed its long-anticipated R2, R3, and R3X Rivian electric SUV crossovers. The R3X is a sportier version of the R3. Rivian said the Rivian R2 platform will be the same as the R3. The company offers reservations with a $100 refundable deposit.

The Rivian R2

The anticipated starting price for the Rivian R2 is approximately $45,000, with the R2’s release date is slated for the first half of 2026.

Rivian R2 Features

0-60 under 3 seconds.
Up to 300+ miles of range.
Room for five and all your camping gear.

Rivian stated that R2 pricing may vary based on vehicle options. Additional taxes and fees on the vehicle will apply based on location. The R2 features a NACS charge port (also known as SAE J3400) and an estimated range of up to over 300 miles. The R2’s 360-degree open-air experience allows drivers to feel the breeze from all directions, including a powered rear window. The open-air experience is perfect for outdoor adventures, which Rivian is known for. Seats in the Rivian R2 can lay flat for additional storage and for the ultimate car camping experience.

Rivian R3 electric SUV using Tesla NACS SAE J3400 charger port

The Rivian R2 SUV is expected to be the fourth Rivian product. The R2 follows the Rivan commercial delivery van. The larger, more expensive R1S SUV and R1T pickup truck are currently available for purchase and immediate delivery, starting at roughly $70,000 and can exceed $100,000.

“R2 represents the essence of our brand while targeting the significant mid size SUV segment, a massive market with limited compelling EV options beyond Tesla,” Rivian CEO RJ Scaringe told investors. “R2 has been developed with vertically integrated propulsion platforms, electronics, and software to create an incredible user experience.”

The Rivian R3 Electric SUV Is Designed for Maximum Performance, Capability, and Fun

The Rivian R3, inspired by rally racing, is an electric SUV designed for maximum performance, capability, and fun. Deliveries will begin after the R2. It is built on the same midsize platform as the R2 but is smaller and offered at a lower price point. The R3 sits on a wheelbase five inches shorter than that of the R2.

Like the R2, the Rivian R3 and sportier R3X will feature Rivian’s new 4695 cylindrical battery cells. These cells are 15 mm taller than Tesla’s 4680 cells. The R3 will have a native version of Tesla’s NACS charging port built directly into the vehicle.

The R3 will have two battery options. The larger battery will get over 300 miles of range and will reach 60 mph from zero in less than 3 seconds in its most powerful configuration.

The R3X is a sports version of the R3. It is a small rally car featuring a tri-motor drivetrain, larger wheels, and increased ground clearance.

“We’re so excited about what this delivers beyond what we’ve seen [with] R2,” said Rivian CEO RJ Scaringe about the R3. “It takes the package of R2, the platform of R2, it shrinks it, it puts it into our take on ‘What is a crossover?'”

Rivian Ended Exclusive Deal with Amazon for its Electric Delivery Vans

Amazon rolled out more than 10,000 custom Rivian electric delivery vans across the U.S., as part of its co-founding of the The Climate Pledge in 2019. The company made a commitment to achieve net-zero carbon by 2040. Rivian said in November 2023 that it will allow other companies to purchase its electric delivery vans, ending the exclusive agreement with Amazon.

New Rivian Electric SUV Reveals Come at a Crucial Time

After OEMs flooded the market with high-cost, all-electric vehicles in recent years, Rivian has had slower-than-expected EV sales in the U.S. recently.

Investors were disappointed by recent news about decreased sales and cash reserves at Rivian. Rivian cited plant downtime as a reason for forecasting slightly lower production in 2024. It also missed quarterly estimates. The company has been burning cash to narrow losses and improve current EV production. Rivian stock prices plunged at the end of February, but they showed significant improvement during the first week of March.

Rivian said in a press release it would shift production of the R2 to the company’s plant in Normal, Illinois, saving $2.25 billion. This is a change from the in-development plant in Georgia and will also allow the vehicle to begin production earlier. Rivian said it will pause construction on the Georgia plant, resuming “later.”

At the end of February 2024, Rivian said it was laying off 10% of its workforce as concerns about its slower electric vehicle sales continued to reverberate across the EV industry.

Rivian has gone through several rounds of layoffs. It had already let go of 6% of its workforce in both July 2022 and May 2023. The current layoffs are expected to affect over a thousand workers at the company, which has a workforce of 16,700 employees.

Rivian’s Love of the Outdoors

The exciting Rivian electric SUV offerings capture an essential part of the automotive sector for outdoor enthusiasts. The company website says, “Rivian is an electric vehicle manufacturer on a mission to keep the world adventurous forever.”

Outdoor adventures go hand-in-hand with electric vehicles. Those who enjoy the outdoors and frequently go camping are typically more eco-conscious than those who don’t take these trips often. The use of electric vehicles, featuring zero emissions, make these campers feel good that they are helping to fight climate change. Camping with an EV is a better alternative than camping with a gas-powered vehicle. Rivian should be lauded for serving outdoor enthusiasts with high-quality, rugged electric vehicles.