Rivian announces two new EV SUV lines, including one surprise
CEO RJ Scaringe said he has 'never been more excited to launch new products'
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Rivian’s electric vehicle lineup is getting bigger – including a product line that hadn’t been expected.
Two midsize SUV product lines – the R2 and the R3 – are slated to become part of the EV maker’s consumer offerings alongside its existing R1T and R1S, with the latter of the new platforms not having been previously announced. The surprise line includes the R3 midsize crossover and its performance variant, the R3X, according to Rivian.
"I have never been more excited to launch new products – R2 and R3 are distinctly Rivian in terms of performance, capability, and usability, yet with pricing that makes them accessible to a lot of people," CEO RJ Scaringe said in a statement.
The exterior of Rivian's R3 electric SUV. | Fox News
Rivian described its newly-unveiled R2 as a "midsize SUV delivering a combination of performance, capability and utility in a five-seat package optimized for big adventures and everyday use." It has a starting price of $45,000.
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The R2 will start becoming available to consumers in the first six months of 2026, according to the EV maker. In the meantime, the company has already opened up the option for U.S. customers to reserve one of the midsize SUVs.
The exterior of Rivian's R2 electric SUV. | Fox News
"In less than 24 hours, we’ve taken more than 68,000 R2 reservations," Scaringe said Friday on Instagram. "We are thrilled to see R2 (as well as R3 and R3X) resonate so strongly with our community."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RIVN | RIVIAN AUTOMOTIVE INC. | 9.04 | +0.52 | +6.10% |
Rivian said it would not begin delivering the R3 and its performance variant until after R2 "to ensure a smooth launch and rapid ramp" of the R2. When the R3 debuts, it will cost less than the midsize SUV, according to the company.
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The R3X will feature "even more dynamic abilities both on and off road" than its sister R3.
Rivian said R2 and R3 vehicles can reach 60 miles per hour in less than three seconds with the "quickest powertrain configuration." The three available options include single-motor, dual-motor and tri-motor.
The interior of Rivian's R3 electric SUV. (Rivian / Fox News)
Consumers looking at both types of mid-sized platforms will have two battery sizes to pick from. They will also be able to charge the vehicles, which can go over 300 miles with the larger size, with both NACS and CCS plugs, Rivian said.
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The announcement of the R2 and R3 comes several years after the company first started making deliveries of its vehicles. Its market capitalization stood at $12.46 billion as of Friday.
Rivian Automotive
Rivian said in January that its 2023 production totaled about 57,300 EVs, and its deliveries hit roughly 50,100.