Rivian R3 will be ‘materially’ cheaper than R2, and R4 goes even lower

Rivian's CEO says the company's next electric SUV, the R3, will cost "materially" less than the R2, and a later model, the R4, will be cheaper still. No exact prices were given, but the R2 currently starts around $45,000 for its base version (not due until late 2027), with pricier trims arriving sooner. Rivian's CEO has previously suggested the R3 could land in the "mid to high 30s," which would fit with a price well below that $45,000 R2 base.

Don't expect either car soon. The R3 is set to be built at Rivian's Georgia factory, where production is planned to start in 2028. The R4 is even further out — it's described only as a future, lower-priced direction, with no engineering team or timeline yet in place.

For homeowners tracking EV options as part of an energy upgrade, this points to more affordable electric vehicles arriving over the next few years, though the cheapest versions are still a while away. In the meantime, Rivian's current R2 is shipping now, with deliveries running ahead of expectations this year. If you're weighing an EV purchase alongside things like home solar or a charger, the near-term choice is really about the R2's various trims, since the lower-cost R3 and R4 remain years from showroom reality.