Rivian R3 Price Could Drop Below $40,000, R4 To Go Even Lower: What We Know

Rivian is gradually moving its electric vehicle lineup toward more affordable segments. The company’s upcoming Rivian R3 crossover will come at a significantly lower price point than the R2, while the R4 that will follow will move further down the price ladder.

Rivian CEO RJ Scaringe described the R3’s price as “materially lower” than the R2 in a recent interview, but the company has not yet announced an exact starting price.

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This development is significant for Rivian, as the company has so far focused primarily on premium electric vehicles. With the R2, Rivian has already begun shifting its pricing into lower segments, and with the R3, the brand may be targeting an even broader EV customer base.

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Rivian R3 Price: Will it be below $40,000?

The biggest question right now is the Rivian R3 price. Official figures are not available, but current statements indicate that the R3 will be priced lower than the R2’s base price.

Rivian stated when unveiling the R3 in March 2024 that the R3 would be priced lower than the R2. At that time, a starting price target of around $45,000 was given for the R2.

Now, in September 2026, RJ Scaringe has explained this direction more clearly. According to him, the R3’s price point will move “materially lower,” while the R4 will be even lower. However, an official dollar figure for the R3 has not yet been announced.

Scaringe also talked about targeting the R3 in the roughly $35,000–$40,000 range for 2024. But this is a historical target, not a current confirmed MSRP. Therefore, the actual launch price may differ from this range.

How far below the R2’s current pricing can the R3 go?

Current R2 pricing is important to understand the R3’s expected positioning. According to Rivian’s official configurator, the R2 Performance has a starting price of $57,990, while the Premium trim starts at $53,990. The official starting price of the Standard R2 is listed at $44,990, although the availability timeline for the lower-priced Standard version is later.

Rivian’s March 2026 announcement stated that the Standard Long Range R2 would launch at $48,490, and an additional Standard variant at around $45,000.

Taking this $45,000-level R2 as a reference, the R3’s “materially lower” price could theoretically be below $40,000. However, this is a calculation/expectation, not Rivian’s confirmed pricing.

What is the Rivian R3?

The Rivian R3 is a midsize crossover based on the company’s new midsize platform, along with the R2. Rivian introduced the R3 with a more compact form factor than the R2, but the company isn’t positioning it simply as a smaller EV. The R3 is being developed with a combination of performance, off-road capability, passenger comfort, and storage.

Rivian also showcased the R3X, a performance-focused version of the R3. According to the original announcement, multiple battery configurations are planned in the R2 and R3 families, with larger battery versions targeting more than 300 miles of range.

However, the R3’s final US-market battery sizes, EPA range, horsepower, exact dimensions, and production specifications have not yet been officially announced, along with final pricing.

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R4 Price Will Be Lower Than R3

The most interesting part of Rivian’s latest update is the R4. RJ Scaringe has stated that the R4, which will succeed the R3, will move to an even lower price point than the R3.

But information here is quite limited. Rivian has not announced the R4’s official starting price, detailed specifications, launch date, or production timeline. Recent reporting suggests that the R4 and R5 will be developed on a new platform, but very little confirmed information is currently available about the R4 compared to the R3.

Therefore, describing the R4 as a “$30,000 EV” or with any specific price tag would not be accurate at this time.

When will R3 production begin?

Production of the Rivian R3 is associated with the company’s Georgia manufacturing facility. According to current reports, R3 production is planned to begin in 2028 at the Georgia plant. The facility is eventually designed for a total capacity of around 400,000 vehicles per year in two phases.

This means the R3 is not an immediate launch product. Rivian is first scaling the R2 and will then move the R3 into production.

Where will the Rivian R3 fit in the affordable EV market?

Rivian’s R3 strategy represents a major shift for the company. After premium models like the R1T and R1S, the R2 entered Rivian into a relatively accessible segment, while the R3 could make that positioning more aggressive.

If the R3 eventually starts below $40,000, Rivian’s product portfolio will move closer to the broader US EV market. But final pricing, range, and standard equipment will determine how competitive a package the R3 will be in the actual market.

Auto India Daily Verdict

Pricing for the Rivian R3 has not yet been officially revealed, but the company’s CEO’s latest statement provides clear direction: the R3 will be priced materially lower than the R2, and the R4 will be positioned even lower. The previously stated $35,000–$40,000 target does not reflect the current confirmed price.

The R3 could be particularly important for Rivian as it brings the brand toward a wider customer base, while the upcoming R4 could eventually push the company even deeper into the mainstream EV market. The most important updates for now will be official pricing, production timeline, and final battery/range specifications.

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