Rivian Unveils R3 and R3X, Targets Broader EV Market with More Affordable Models

The electric vehicle maker aims to compete with industry leaders by introducing compact and competitively priced options.

Rivian introduces the R3 and R3X, expanding its electric vehicle lineup with more affordable and compact options.
The R3, Rivian's smallest car yet, aims to compete with models like the Hyundai Ioniq 5 and Tesla Model 3, with a design that includes a hatchback and a sloping rear.
Rivian's R3 is expected to have a range of around 300 miles, with charging to 80% in under 30 minutes, and aims to be priced lower than the R2's starting point of $45,000.
CEO RJ Scaringe emphasizes Rivian's commitment to making electric vehicles more accessible, targeting a broader market with the R2, R3, and R3X models.
Rivian's new models, including the R3 and R3X, are part of a strategy to offer compelling options in the EV market, amidst growing competition and a softening EV market.