Rivian reveals R2 and R3: smaller, more affordable Tesla-fighters

• Rivian revealed its latest electric vehicles on Thursday, the R2 and R3.
• The R2 SUV starts at a more affordable $45,000.

Rivian on Thursday revealed two new SUVs: the long-awaited R2 SUV and a surprise, smaller version called the R3.

The smaller and more affordable follow-ups to its popular R1T truck and R1s SUV are designed to reach more mainstream customers than Rivian's pricey R1 and R2 trucks.

The R2's $45,000 starting price puts it more in line with the average new car transaction price at a time when demand for more expensive EVs is drying up.

The smaller size and lower pricing for the R2 also positions Rivian to compete with Tesla's popular Model 3 and Model Y. Tesla CEO Elon Musk has used pricing reductions on both of these vehicles to undercut competitors in a tightening EV market.

The launch of the more affordable R2, which is being pulled up so the company can begin deliveries in early 2026, will be crucial for Rivian's future.

Pricing for the R3, built on the same midsize platform as the R2, wasn't announced Thursday. An expected delivery date also wasn't specified, with CEO RJ Scaringe only saying R3 (and R3X variant) deliveries will start after the R2.

"These represent our future," Scaringe said of the R2 and R3, which he said will position Rivian's brand to be more accessible to more people.

Pricing

The R2's starting price is $45,000, Rivian announced Thursday. You can reserve yours now with a $100 deposit.

Vehicle configurations aren't yet available on Rivian's website, so it's not clear yet how much more expensive add-ons or higher trims will run you. It's also not clear yet whether the R2 would qualify for the $7,500 federal EV tax credit.

This lower starting price hits what Scaringe has called a "really important sweet spot" in the EV market that Rivian isn't currently hitting. The R1S currently costs around $80,000 while the R1T pickup truck costs around $73,000.

Tesla's Model Y starts at about $43,000, while the Model 3 starts at $38,990.

Pricing for the R3 and R3X haven't been released yet.

Range

The R2 delivers a driving range of over 300 miles, Scaringe said.

That's about in line with the standard range on the R1S and R1T, though both modes have and top-end range around 400 miles of range with the Max battery pack.

Range details for the R3 vehicles weren't released Thursday.

Design, specs, and other features

The R2 looks like a smaller version of the R1S, with the same boxy stance and bright, anime-like grille and headlights.

The R2 is about 15 inches shorter than the R1S at about 15.5 feet long. It also sits about 5.5 inches lower than the R1S at roughly 5.5 feet tall.

The R2 boasts some fun new features, like a rear window the rolls all the way down to accommodate longer cargo (Scaringe's example was, of course, a surfboard.

After several R1 owners asked for them, the R2 also features two large glove compartments in the front seat.

R3 and R3X

The R3 and R3X performance variant bring a different look the the Rivian lineup as its first crossovers, with a more angular rear-end.

Little was shared Thursday about the R3, but it appears even smaller than the R2, and appears to feature an eye-popping glass roof.

Are you placing a pre-order for the R2 or R3? Reach out to this reporter at nnaughton@insider.com